Star Health raises Rs. 3,217 crores from 62 anchor investors

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Star Health and Allied Insurance Company Limited, the largest private health insurance company and the largest retail health insurance company in India by health GWP, with a 15.8% overall health insurance market share and a 31.3% retail health insurance market share in fiscal 2021, according to CRISIL Research has allocated Rs. 3,217 crores ahead of the company’s proposed IPO at the upper band of Rs. 900 per share (including share premium of Rs. 890 per Equity Share) with face value of Rs. 10 per equity share.

Monetary Authority of Singapore, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, BNP Paribas Arbitrage and Societe Generale are among the anchor investors. In addition, SBI Life Insurance Company, HDFC Life Insurance Company and Edelweiss Mutual Fund have been allocated shares.

The initial public offering (IPO) comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders. Those offering shares through the offer for sale are promoter and promoter group — Safecrop Investments India LLP, Konark Trust, MMPL Trust — and existing investors Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.

The public offer includes a reservation of shares worth ₹100 crore for employees. The issue, with a price band of ₹870-900 a share will open for public subscription between November 30 and December 2.

The anchor allocation as follows:

S. No.Name of Anchor InvestorNo. of Equity Shares allocated% of Anchor Investor PortionBid Price Rs. per Equity ShareTotal Amount Allocated (Rs.)
1MONETARY AUTHORITY OF SINGAPORE24,64,3366.89%9002,21,79,02,400.00
2GOVERNMENT OF SINGAPORE3,11,8880.87%90028,06,99,200.00
3THE NEW ECONOMY FUND 24,82,9286.95%9002,23,46,35,200.00
4BAILLIE GIFFORD PACIFIC FUND A SUB FUND OF BAILLIE GIFFORD OVERSEAS GROWTH FUNDS ICVC 27,76,2087.77%9002,49,85,87,200.00
5WF ASIAN SMALLER COMPANIES FUND LIMITED27,30,9927.64%9002,45,78,92,800.00
6VALIANT MAURITIUS PARTNERS OFFSHORE LIMITED11,58,7043.24%9001,04,28,33,600.00
7VALIANT INDIA OPPORTUNITIES LTD 8,27,6482.32%90074,48,83,200.00
8VALIANT MAURITIUS PARTNERS LIMITED 4,96,5761.39%90044,69,18,400.00
9UNIVERSITIES SUPERANNUATION SCHEME LIMITED (USSL) AS TRUSTEE OF UNIVERSITIES SUPERANNUATION SCHEME A/C12,40,3203.47%9001,11,62,88,000.00
10ABU DHABI INVESTMENT AUTHORITY – BEHAVE7,75,2002.17%90069,76,80,000.00
11THORNBURG DEVELOPING WORLD FUND5,78,8161.62%90052,09,34,400.00
12DESJARDINS EMERGING MARKETS FUND 6,31,4081.77%90056,82,67,200.00
13LAZARD EMERGING MARKETS CORE EQUITY PORTFOLIO1,78,8960.50%90016,10,06,400.00
14ABU DHABI INVESTMENT AUTHORITY – MERLION4,65,1201.30%90041,86,08,000.00
15AL MEHWAR COMMERCIAL INVESTMENTS L.L.C. – (WHITING)2,03,4080.57%90018,30,67,200.00
16ASHOKA INDIA OPPORTUNITIES FUND10,46,0162.93%90094,14,14,400.00
17ABU DHABI INVESTMENT AUTHORITY – WAY2,59,6480.73%90023,36,83,200.00
18ASHOKA INDIA EQUITY INVESTMENT TRUST PLC1,44,7040.40%90013,02,33,600.00
19ABERDEEN NEW INDIA INVESTMENT TRUST PLC1,31,6800.37%90011,85,12,000.00
20THE INDIA FUND, INC.1,45,5200.41%90013,09,68,000.00
21ABERDEEN GLOBAL INDIAN EQUITY LIMITED3,01,6160.84%90027,14,54,400.00
22MORGAN STANLEY INDIA INVESTMENT FUND, INC.4,59,8721.29%90041,38,84,800.00
23MORGAN STANLEY INVESTMENT FUNDS INDIAN EQUITY FUND1,18,9440.33%90010,70,49,600.00
24WCM FOCUSED EMERGING MARKETS FUND13,85,4243.88%9001,24,68,81,600.00
25JNL MULTI-MANAGER EMERGING MARKETS EQUITY FUND3,19,7600.89%90028,77,84,000.00
26NATIXIS INTERNATIONAL FUNDS (LUX) I – WCM GLOBAL EMERGING MARKETS EQUITY FUND1,11,1200.31%90010,00,08,000.00
27SEI INSTITUTIONAL INVESTMENTS TRUST – EMERGING MARKETS EQUITY FUND MANAGED BY WCM INVESTMENT MANAGEMENT1,11,1200.31%90010,00,08,000.00
28WCM FOCUSED EMERGING MARKETS FUND LP1,39,7920.39%90012,58,12,800.00
29JANCHOR PARTNERS PANASIAN MASTER FUND19,01,8405.32%9001,71,16,56,000.00
30SBI LIFE INSURANCE COMPANY LTD8,26,8802.31%90074,41,92,000.00
31HDFC LIFE INSURANCE COMPANY LTD8,26,8802.31%90074,41,92,000.00
32FALCON EDGE GLOBAL MASTER FUND,LP1,93,3120.54%90017,39,80,800.00
33MORAINE MASTER FUND LP5,99,9201.68%90053,99,28,000.00
34FALCON Q LP1,11,1200.31%90010,00,08,000.00
35NVIT EMERGING MARKETS FUND4,53,6641.27%90040,82,97,600.00
36MIRAE ASSET INDIA SECTOR LEADER EQUITY FUND2,89,4080.81%90026,04,67,200.00
37MIRAE ASSET ASIA SECTOR LEADER EQUITY FUND2,89,4080.81%90026,04,67,200.00
38HORNBILL ORCHID INDIA FUND7,44,2212.08%90066,97,98,900.00
39MAX LIFE INSURANCE COMPANY LIMITED A/C ULIF01108/02/07LIFEGRWSUP104 – GROWTH SUPER FUND2,44,4480.68%90022,00,03,200.00
40MAX LIFE INSURANCE COMPANY LIMITED A/C PARTICIPATING FUND1,93,4080.54%90017,40,67,200.00
41MAX LIFE INSURANCE COMPANY LIMITED A/C ULIF00125/06/04LIFEGROWTH104 – GROWTH FUND1,22,2240.34%90011,00,01,600.00
42JUPITER INDIA FUND1,09,8080.31%9009,88,27,200.00
43JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED – SOUTH ASIA ACCESS FUND55,5680.16%9005,00,11,200.00
44EDELWEISS TRSUTEESHIP CO LTD.- EDELWEISS MF AC – EDELWEISS RECENTLY LISTED IPO FUND.1,65,3760.46%90014,88,38,400.00
45EDELWEISS ALTERNATIVE EQUITY SCHEME87,9040.25%9007,91,13,600.00
46IIFL SPECIAL OPPORTUNITIES FUND – SERIES2,77,7760.78%90024,99,98,400.00
47THE TIFF KEYSTONE FUND L.P2,03,9520.57%90018,35,56,800.00
48CATHOLIC ENDOWMENT FUND L.P.1,97,3440.55%90017,76,09,600.00
49TIFF GLOBAL EQUITY FUND L.P.91,5040.26%9008,23,53,600.00
50MAKRANA SINGAPORE FUND I PTE LIMITED57,8720.16%9005,20,84,800.00
51SAMSUNG INDIA SECURITIES MASTER INVESTMENT TRUST EQUITY57,8720.16%9005,20,84,800.00
52BHARTI AXA LIFE INSURANCE COMPANY LTD1,65,3760.46%

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