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Star Health lists at 6% discount against issue price of Rs 900 a piece #ipo #starhelth #shorts
Star Health and Allied Insurance Company (Star Health) made a weak stock market debut with its equity shares getting listed at Rs 845, a 6 per cent discount to its issue price of Rs 900 per share on the National Stock Exchange (NSE). On the BSE, the stock opened at Rs 848.80, the exchange data shows. Ace investor Rakesh Jhunjhunwala is a promoter of Star Health, which is India's first and largest private standalone health insurance company.
At 10:01 am, the stock was trading at Rs 875.20, after hitting a high of Rs 899 on the BSE in the intra-day trade. On the downside, it hit a low of Rs 827.50 intra-day. On the NSE, the stock hit a high of Rs 895 and a low of Rs 828. A combined 2.6 million shares had changed hands on the NSE and BSE till the time of writing of this report.
Star Health, the largest private-sector health insurance company, got poor response due to expensive valuations, dent in profitability due to Covid-19 and fragile sentiments post a weak listing of Paytm. "The listing was expected to be on a poor note; however, the long-term outlook for the industry and Star Health Insurance is promising. Therefore, we can expect buying interest at lower levels," said Aayush Agrawal, senior Research Analyst - Merchant Banking at Swastika Investmart.
Star Health's Rs 7,250-crore initial public offering (IPO) — the third largest this year and eighth largest ever — had just about managed to sail through despite a poor response from investors, garnering just 79 per cent subscription.
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1 STAR HEALTH
2 STAR HEALTH IPO
3 STAR HEALTH IPO APPLY OR AVOID
4 LISTING GAIN
5 STAR HEALTH IPO LISTING GAIN
6 STAR HEALTH IPO GREY MARKET PREMIUM
7 STAR HEALTH LATEST NEWS
8 STAR HEALTH IPO REVIEW BY
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10 STAR HEALTH INSURANCE
11 HOW TO APPLY FOR STAR HEALTH IPO
12 HOW TO APPLY FOR STAR HEALTH IPO
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14 APPLY FOR STAR HEALTH IPO FOR LONG TERM INVESTMENT
15 LATEST IPO NEWS
16 SMKC
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20 STAR HEALTH INSURANCE LATEST GREY MARKET PREMIUM
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