Star Health IPO Share Assignment Status Today: The status of allotment of shares by Star Health & Allied Insurance Company (IPO) is expected to close on Tuesday, December 7. Investors who signed up for Star Health’s IPO can now check the status of their stock application. There are two ways to check the allotment status of Star Health IPO shares: a) through BSE, b) through the IPO Registrar’s website. Most investors are likely to get Star Health shares, as the issue was subscribed at 79 percent.
The initial offering from Star Health and Alliance Insurance Company saw a lukewarm response from investors during subscription. Star Health IPO received bids of more than 3.56 crore shares against the total issue size of more than 4.49 crore shares, data available from the National Stock Exchange (NSE) showed.
How to check the status of Star Health IPO shares allotment through BSE website
1) Visit the official BSE website at the URL https://www.bseindia.com/investors/appli_check.aspx
2) You will be taken to a page called ‘Status of Issue Application’. There you need to select the option ‘Equity’.
3) Select ‘Star Health and Allied Insurance Company Limited’ from the drop-down menu next to the issue name.
4) Enter your application number and Permanent Account Number (PAN).
5) Then click on ‘I am not a robot’ to verify yourself and click on ‘Search’. Here you can see the status of the request.
Checking Star Health’s IPO Assignment Status through Registrar’s Website (KFinTech Private Limited)
1) Visit KFin Tech Pvt Ltd website at URL https://ris.kfintech.com/ipostatus/
2) From here you have to select one of the five available servers
3) Select the name of the IPO from the drop down menu i.e. Star Health and Allied Insurance Company Limited. The name will only be populated when the shared file mapping process is complete
4) Then you need to select one of the three modes: Application Number, DPID/Client ID or PAN ID
5) Enter the details of the mode you selected in step ‘4’
6) Click on the search option
7) After this, your assignment status will be visible
According to market observers, Star Health shares fell further to ₹60 off the gray market on Tuesday. Shares of Star Health and Allied Insurance Company are likely to go public on Friday, December 10.
Shares allocated to qualified institutional buyers (QIBs) were subscribed 1.03 times, those of non-institutional investors were subscribed 0.19 times and those of private individual investors (RIIs) were subscribed 1.10 times. Separately, the employee segment portion was subscribed 0.10 times, the data shows.
“Star Health IPO witnessed a lukewarm response from investors. Institutional investors have already asked about expensive valuations. The company’s profitability was hit hard in FY21 due to higher claims due to the Covid-19 pandemic. As a result, domestic mutual funds largely stayed away from subscriptions,” said Satish Kumar, research analyst at Choice Broking.
Star Health IPO includes a new share issue worth Rs 2,000 crore and an offer for sale (OFS) of up to 58,324,225 shares by promoters and existing shareholders. The company was looking to fetch Rs 7,249 crore at the top end of the price range.
Proceeds from the new issue will be used to increase the company’s capital base and maintain solvency. Star Health is a leading private health insurer in the country and is owned by a consortium of investors such as Westbridge Capital and Rakesh Jhunjhunwala.
Read all the Latest News, Breaking News and Coronavirus News here.