Star Health IPO share allotment: Check status via BSE, KFintech, grey market premium; listing on Dec 10

The initial public offering of Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company Limited was undersubscribed at just 79%.

Star Health shares, following the poor response to the IPO, were trading at a discount of Rs 80 in the grey market

By Harshita Tyagi

The initial public offering of Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company Limited was undersubscribed at just 79%. The price band for the IPO, which was open for subscription during 30 November-2 December, was fixed at Rs 870-900 per share. The company is supposed to finalise the IPO allotment by today (7 December), per the timeline provided in the red herring prospectus (RHP). Here are two ways to check the IPO share allotment status online:

Through BSE website

Step 1: Visit BSE website http://www.bseindia.com. Select Equity and Issue Name (STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED)

Step 2: Enter Application Number and PAN Number

Step 3: Check box (I’m not a robot) and click on Search button

Though IPO registrar’s portal:

Ste 1: Visit registar KFintech Pvt Ltd website  and choose IPO (STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED) in the dropdown

Step 2: Select and accordingly enter either Application Number, or DPID/Client ID, or PAN Number

Step 3: Enter the Captcha and click on ‘Submit’

After allotment finalisation, unsuccessful investors will get the refunds in their bank accounts on or after December 8; while successful investors will get equity shares transferred to their demat accounts on December 9.

Star Health IPO Grey Market Premium

Star Health shares, following the poor response to the IPO, were trading at a discount of Rs 80 in the grey market, as opposed to grey market premium seen in other recent IPO stocks. The share price discount widened from Rs 60 earlier.

Star Health IPO received bids of over 3.56 crore shares against the total issue size of over 4.49 crore shares. Qualified Institutional Buyers booked 1.3 times the portion reserved for them while the retail buyers category was subscribed 1.1 times. Non institutional buyers and employees subscribed 19 per cent and 10 per cent of the portion set aside for them. Shares are likely to debut on NSE and BSE on Friday, 10 December 2021.

“Star Health IPO got a very dull response in the times where IPOs get highly oversubscribed and this should put a negative impact on its debut. The expensive pricing made the issue unattractive. The debut, most probably should be in discount to its issue price,” said Manan Doshi, Co Founder- UnlistedArena.com.

 

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