Star Health IPO gets 79% subscription on last day

NEW DELHI: The initial public offering (IPO) of Star Health and Allied Insurance Company Ltd received 79 per cent subscription on the final day of the share-sale on Thursday.

Star Health, a leading private health insurer, is owned by a consortium of investors such as Westbridge Capital and Rakesh Jhunjhunwala.

The IPO received bids for 3,56,02,544 shares against 4,49,08,947 shares on offer, translating into 79 per cent subscription, according to data available with the exchanges.

The category for retail individual investors (RIIs) garnered 1.10 times subscription, qualified institutional buyers (QIBs) 1.03 times, while non-institutional investors portion got subscribed 19 per cent.