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    Home » Star Health IPO: IPO of Rakesh Jhunjhunwala invested cold response in gray market, should you invest
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    Star Health IPO: IPO of Rakesh Jhunjhunwala invested cold response in gray market, should you invest

    Nisha ChawlaBy Nisha ChawlaNovember 29, 2021No Comments
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    Star Health IPO: IPO of Rakesh Jhunjhunwala invested cold response in gray market, should you invest
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    Cool response to the IPO of Rakesh Jhunjhunwala-invested Star Health in the gray market

    The IPO of Star Health and Allied Insurance, a company invested by Big Bull Rakesh Jhunjhunwala, is going to open tomorrow (30 November 2021). The price band of the IPO is Rs 870-900 and investors can apply for lots of 16 shares. The company will raise capital of Rs 7,249 crore through this IPO. But its share prices are falling rapidly in the gray market. Last week, its shares were selling at a premium of Rs 90 in the gray market, but now they have come down to a premium of Rs 10. In such a situation, the question arises whether investors should apply for this IPO or not.

    Is Star Health Valuation Expensive?

    According to analysts at Choice Broking, at the higher price band of Rs 900, Star Health has a market capitalization to net premium ratio of 10.3 times, which is costlier than its peer company. The brokerage firm has placed this issue in the category of ‘Subscribe with Cause’. While Angel Broking has placed it in the long-term subscribed category. Analysts at ICICI Direct have rated it, but the company is valued at 5.9 per cent of AUM.

    Stock Tips: Bears hold on the market, but there is a chance of profit in these two stocks – know what is the target price

    Star Health’s record is good, but the pressure will increase as COVID increases

    ICICI Direct has said that Star Health and Allied Insurance will capitalize on the opportunity of structural health insurance. It is one of the leading players in the health insurance industry and has a strong distribution network. The company’s product is also diversified. It had a 15.8 per cent share in the health insurance market in FY21. The major concern about Star Health and Allied Services is that if there is an increase in COVID-19, then the claims with the companies will increase. Rakesh Jhunjhunwala has 14 percent stake in this health insurance company while his wife Rekha Jhunjhunwala has a 3.26 percent stake in this company i.e. both have 17.26 percent stake in Star Health.

    Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.

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    She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.

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