With this IPO, which is through an offer-for-sale, the government is aiming to divest its 3.5 per cent stake in the insurer by selling 22,13,74,920 shares.
Updated Jan 16, 2021 | 06:57 IST
Standalone health insurance provider Star Health Insurance is reportedly planning to raise Rs 3,000 crore via a fresh issue and OFS route in an upcoming IPO Star Health Insurance likely to raise Rs 3,000 cr in upcoming IPO: report | Photo Credit: Times Now
Insurance provider Star Health Insurance has plans to go join the IPO frenzy and go public in 2021, according to a report.
The development comes amid a surge in demand for health insurance amid the Covid-19 pandemic.
Chennai-based Star Health Insurance has been valued in excess of $3 billion, according to a report in Moneycontrol. The insurer backed by star investor Rakesh Jhunjhuwala plans to raise Rs 3,000 crore through the proposed public route but a final call is yet to be taken on the matter, it added.