The nation’s largest standalone well being insurer, Star Health and Allied Insurance, promoted by Safecrop Investments India, ace investor Rakesh Jhunjhunwala, and WestBridge AIF, has filed its draft crimson herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to lift funds by way of an preliminary public providing (IPO).
The public providing will include a recent subject of shares aggregating to Rs 2,000 crore and a suggestion on the market for 60.1 million shares by present shareholders. Safecrop Investments India is seeking to promote 30.68 million shares, adopted by Apis Growth, which is seeking to promote 7.68 million shares. Other buyers, such because the University of Notre Dame DU LAC, MIO Star, ROC Capital Pty, Sai Satish, Venkatasamy Jagannathan, Konark Trust, Bejris Minoo Desai, and MMPL Trust are additionally promoting shares by way of the OFS.
The web proceeds from the recent subject shall be used to reinforce the corporate’s solvency ranges and enhance capital.
Kotak Mahindra Capital, Axis Capital, BofA Securities India, Citigroup Global Markets India, and ICICI Securities are the worldwide co-coordinators and e-book working lead managers to the difficulty.
