Star Health shares are expected to be distributed on December 7th to successful purchasers
Star Health backed by Rakesh Jhunjhunwala is expected to announce its stake allocation process tomorrow i.e. December 7th. Successful bidders will be able to check the allocation status of their shares. them through the BSE website and also the website of the registrar KFintech.
Star Health and Allied Insurance Company launched an initial public offering (IPO) last week. However, the offering did not receive a great response from investors due to its high value.
It’s only 79% registered as employees and high net worth individuals stay away from the offer.
The IPO attracted 35.6 million shares bid compared to 44.9 million shares offered. Eligible institutional buyers only book 1.3 times the portion reserved for them. The retail buyer category has been registered 1.1 times. However, non-organizational buyers and employees only signed up for 19% and 10% of their share.
Meanwhile, successful bidders can check the status of their stake allocation on Star Health by following these steps on the BSE website:
Visit the following link on the BSE website: https://www.bseindia.com/investors/appli_check.aspx. This will take the investor to a page called ‘Issuance Application Status’. There is one who needs to select the ‘Equity’ option.
Then select the option “Star Health and Allied Insurance Company Limited” which will be selected from the drop-down menu. When this is done, the contractor will mention the application number and the Permanent Account Number (PAN). After clicking the “I’m not a robot” option to verify myself, click “Search”. This will show the status of the application.
The same process will be performed while checking the allocation status on the KFintech website.
