Jhunjhunwala Bet: Rakesh Jhunjhunwala, who is called the Warren Buffett of India, recently listed a stock gave a profit of 434 percent while IPO investors have lost 8 percent.
Jhunjhunwala Bet: Rakesh Jhunjhunwala, who is called the Warren Buffett of India, recently listed a stock of Rs 5591 crore, i.e. 434 percent, while IPO investors have lost 8 percent. Last week, on Friday (December 10), there was a listing of the shares of Star Health and Allied Insurance and investors did not get much profit on it. Last week, the closing of trading on NSE on Friday was closed at Rs 901 against the issue price of Rs 900 of Star Health and today (December 16) it has closed at Rs 830.50 i.e. IPO investors’ capital close to Rs. decreased by 8 percent. Big Bull Rakesh Jhunjhunwala is a promoter in Star Health and he holds 14.98 per cent stake in this company.
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Jhunjhunwala got shares at 83% discount
According to the Red Herring Prospectus (RHP) of Star Health, Jhunjhunwala gradually bought a 14.98 per cent stake in this insurance company between March 2019 and November 2021. Big Bull bought its 8.28 crore shares at a price of just Rs 155.28. This price is about 83 percent discount to the upper price of the price band fixed for the company’s IPO. Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala also has shares in this company. Rekha Jhunjhunwala holds 1.78 crore shares in Star Health, which is equal to 3.23 percent stake in the company. His stake is about Rs 1478 crore.
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Big Bull’s investment in Star Health and Allied Insurance Company
Total Shares: 8.28 crores
Share: 14.98%
Average Buying Price: Rs 155.28 per share
Thursday’s closing price: Rs 830.50 per share
Returns: 421%
Purchase Value: Rs 1,286 crore
Current value of stake: Rs 6877 crore
Net Profit: Rs 5591 crore
(Article: Kshitij Bhargava)
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