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Details you don’t want to miss

Issue size

Upto Rs. 7249 cr

Issue Period

Nov 30 – Dec 2, 2021

Price band

Rs. 870 to Rs. 900

Market lot / Multiples

16 shares

Issue Timeline

Bidding period

Nov 30 – Dec 2, 2021

Allotment

Dec 7, 2021

Refund Initiation

Dec 8, 2021

Share Crediting

Dec 9, 2021

Listing

Dec 10, 2021

Star Health and Allied Insurance Co Ltd Company Overview

The company is the largest private health insurer and largest retail health insurance company in India, according to CRISIL Research, and had GWP of ₹93,489.50 million in FY21.

Their comprehensive health insurance product suite insured 20.5 million lives in Fiscal 2021 in retail health and group health.

The products target a variety of customer segments, including individuals, families, students, senior citizens, as well as persons with pre-existing medical conditions across the broader middle market customer segment.

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Strengths & Risks associated

Top 0 Strengths

  • 1

    Diversified product suite with a focus on innovative and specialized products

    Offer a range of flexible and comprehensive coverage options primarily for retail health, group health, personal accident and overseas travel, which accounted for 87.9%, 10.5%, 1.6% and 0.01%, respectively, of the total GWP (Gross Written Premium) in FY21.

  • 2

    Substantial investment in technology and innovative business processes

    Have integrated platforms such as a new customer relationship management (""CRM"") program, agent application STAR ATOM, which allows agents to process proposals and issue receipts using their smart phone tablets etc.

  • 3

    Strong risk management focus with domain expertise driving a superior claims ratio and quality customer service

    To reduce the costs associated with claims, the company engages with customers through an in-house tele-medicine service, TALK TO STAR, which provides customers with access to experienced doctors that can give second opinions over the internet.

Top 0 risks

  • 1

    Depend on the accuracy and completeness of information provided by or on behalf of customers and counterparties

    Financial condition and results of operations could be negatively affected by relying on any incorrect, misleading or incomplete information sourced from customers, intermediaries or counterparties.

  • 2

    Pandemics, such as the recent COVID-19, and other catastrophic events, such as natural disasters could materially increase the liabilities for claims by policyholders, result in losses in investment portfolios

    Health insurance business is exposed to the risk of catastrophes such as a pandemics or other catastrophic events that cause a large number of hospitalizations. Neither the likelihood, timing nor the severity of a future pandemic or catastrophe can be predicted.

Financials

  • Net Worth
  • Net Current Assets
  • Net cash inflows/(outflows)
  • Total borrowings
  • Basic Earning per Share (EPS)
  • Restated Profit/Loss

Net Worth

Net Current Assets

Net cash inflows/(outflows)

Total borrowings

Basic Earning per Share (EPS)

Restated Profit/Loss

Industry Trends

Past performance of IPOs

Steps to Apply

Why invest in IPO through ICICIdirect

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FAQs

An Initial Public Offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process where a privately held company becomes a publicly traded company with the initial sale of its stock. An IPO is a tool that companies use to secure capital through investments for future use. In most instances, this investment is used to expand or improve the business.

A price band is a price floor and a cap between which a seller will let buyers place bids on a security, usually during an initial public offering (IPO).

Minimum Order Quantity, as name says, is the minimum number of shares investors can apply while bidding in an IPO. If investors want to bid for more shares, they can apply in multiples of IPO market lot (lot Size or IPO bid lot) of shares.

If an investor wants to place bids for less than Rs.2 lacs, he needs to apply in the Retail segment. If an investor wants to bid for more than Rs.2 lacs, he needs to apply in the HNI segment.

Cut-off price is the offer price, finalized by a company in consultation with the book running lead managers (BRLMs), which could be any price within the price band. Applying on Cut-off price means the investor is ready to pay whatever price is decided by the company at the end of the book-building process.

When applying at a cut-off price, an investor has to pay the highest price while placing the bid. If a company decides the final price lower than the highest price asked for IPO, the remaining amount is returned to the retail investor.

An investor can apply in all Mainboard IPOs through ICICIdirect. However, if the investor wants to apply in SME IPOs, he/she can do it through the net banking portal of ICICI Bank.

ASBA stands for "Applications Supported by Blocked Accounts". At the time of bidding, investors’ account is blocked to the extent of the bid amount and debited only at the time of allotment. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited.

In other payment options, the bid amount is debited when investors’ bid application is placed with the stock exchanges. Under the ASBA process, the amount will be debited from investors’ bank account to the extent of successful allotment at the time of allotment. Until such allotment, the amount will remain blocked in investors’ bank account.

Application under this facility can be placed only for Book Built Public Issues.

An investor can place maximum of 3 bids in an issue.

The investor with Demat account in ICICIdirect can apply in an IPO by logging in to his ICICIdirect Account. The investor needs to select IPO and then the name of the IPO in which he would like to apply. Given below is the path:

Login to ICICIdirect account >> IPO >> Name of IPO

Investor can apply in the retail section of an IPO through iDirect Portal even if he has a 2-in-1 account (Demat, Trading Accounts) with us and Bank account with third party.

Yes, the investor can revise or withdraw the bids after application. It can be done only once the order is executed. The investor needs to go to the IPO Order Book and select the Transaction Id and then click on Withdraw Application/ Revise Bid. The application in the non- institutional category cannot be withdrawn but can only be revised.

However, this needs to be done during the issue itself and cannot be done after the issue is closed. In case of ASBA applications, for upward revision of bid, additional lien will be marked to the extent of incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment

No, one person cannot apply multiple times with same Demat/PAN for an IPO. If an investor applies in an IPO though multiple applications with same Demat account or same PAN Number, his applications will be rejected.

If an investor would like to place order for multiple applications, he/she can apply with his/her family member's name. But, all eligible family members should have a Demat account and a PAN number.

In cases where issue is over-subscribed, bidding for more than 1 lot from the same account doesn’t help as maximum of only 1 lot can be provided against each application. However, if the investor applies for 1 lot from different accounts, the probability of allocation of shares increases.