Rakesh Jhunjhunwala backed Star Health IPO: The IPO (Initial Public Offering) of the health insurance giant Star Health and Allied Insurance Company, which is owned by the stock market’s Big Bull Rakesh Jhunjhunwala, is going to open on Tuesday.
The IPO of Star Health & Allied Insurance will open on November 30 and will be available for subscription till December 2. The company plans to raise Rs 7500 crore through IPO. The price band of Star Health’s IPO has been decided. The price band of Star Health’s IPO has been fixed at Rs 870-900 per share. This is the third biggest IPO of 2021. Earlier, Paytm had brought a fresh issue of Rs 18,300 crore and Zomato Rs 9375 crore.
Rakesh Jhunjhunwala Connection
But do you know that Big Bull Rakesh Jhunjhunwala of the stock market has 8.23 crore shares and 14.98 percent stake in Star Health and Allied Insurance Company. He bought a stake in Star Health at a price of Rs 155.28 per share in nine transactions between March 2019 and November 2021. In the last one year, he has bought 93,24,087 shares at Rs 256.44 per share.
6 times investment in 32 months
The price band of Star Health’s IPO has been decided. The price band of Star Health’s IPO has been fixed at Rs 870-900 per share. This means that in just 32 months, Rakesh Jhunjhunwala’s investment in Star Health has increased by 6 times. Not only this, Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala also has 1.78 crore shares of Star Health, which makes up 3.23 percent. Meaning Big Bull and his wife have a total stake of 17.26 percent. The company’s second promoter Safecrop Investments India LLP holds 45.32% stake.
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