CHENNAI: After a tepid response to its IPO final week, Star Well being and Allied Insurance coverage made a weak debut on the BSE, itemizing on Friday at a 5.8% low cost to its situation worth of Rs 900 apiece. However it ended the day larger at Rs 907.
Billionaire investor Rakesh Jhunjhunwala and his spouse collectively maintain a 17.5% fairness stake within the firm. The inventory, which opened at Rs 849, quickly hit the day’s excessive at Rs 940 by afternoon, earlier than closing practically 7% larger. The IPO for Star Well being & Allied Insurance coverage was undersold on the final day of the provide with solely 79% of the overall variety of shares subscribed.
Traders utilized for about 3.6 crore shares in opposition to 4.5 crore on provide, translating into 79% of what was provided.
Billionaire investor Rakesh Jhunjhunwala and his spouse collectively maintain a 17.5% fairness stake within the firm. The inventory, which opened at Rs 849, quickly hit the day’s excessive at Rs 940 by afternoon, earlier than closing practically 7% larger. The IPO for Star Well being & Allied Insurance coverage was undersold on the final day of the provide with solely 79% of the overall variety of shares subscribed.
Traders utilized for about 3.6 crore shares in opposition to 4.5 crore on provide, translating into 79% of what was provided.
Supply: Times of India