Upcoming IPO: Those investing in IPO have a chance to earn again next week. Next week two companies are coming with their IPO. These two companies are Star Health and Allied Insurance Company and Tega Industries. Together these two companies want to raise Rs 7,868 crore through IPO. The IPO of Star Health will open for subscription on November 30 and will close three days later on December 2. At the same time, the IPO of Tega Industries will open on December 1 and will close on December 3. Talking about the month of November, so far the IPO of 10 companies has been successfully completed. According to the data of the exchanges, so far in 2021, 51 companies have launched their IPOs to raise more than Rs 1 lakh crore.
Star Health IPO: Star Health’s IPO will open next week, Rakesh Jhunjhunwala has a major stake in the company
Star Health and Allied Insurance Company
Fresh shares worth Rs 2,000 crore will be issued under the IPO of Star Health. At the same time, 58,324,225 equity shares will be sold by the promoters and existing shareholders under the Offer for Sale (OFS). Complete information about this IPO is given below.
- Star Health has fixed a price band of Rs 870-900 per share and the initial share sale at upper price band is expected to garner Rs 7,249.18 crore. The proceeds from the IPO will be used to increase the capital base of the company. The price band for the issue has been fixed at Rs 870-900 per share. There is a discount of Rs 80 for the employees of the company.
- The company has fixed the lot size of 16 equity shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 14400.
- 75 per cent of the issue has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Under the issue, shares worth Rs 100 crore have been reserved for the employees of the company.
- The allotment of its shares can be final on December 7 and the shares can be listed on December 10.
- Star Health is the country’s largest private health insurance company with 15.8 percent stake in FY21. The main focus of the company is on the retail health market segment. This company provides coverage options related to retail health, group health, personal accident and overseas travel.
- As per the available data for FY 2021, its network distribution has 737 health insurance branches in 26 states and 4 union territories of the country.
- Star Health has several hospitals in its network and is one of the largest health insurance networks in the country. It has a network of more than 10870 hospitals across the country.
Tega Industries IPO: Tega Industries IPO will open on December 1, know full details about the company
Tega Industries
Tega Industries, which provides services to mineral mining companies globally, has fixed the price band for its IPO. The company has fixed a price band of Rs 443 to 453 for its first IPO. The issue will open on December 1 and close on December 3. The company will raise capital of Rs 619.22 crore through its IPO. The entire IPO will be Offer for Sale (OFS). Under this, existing shareholders and promoters will sell 1,36,69,478 equity shares. Complete information about this IPO is given below.
- Under the OFS, promoter Madan Mohan Mohanka will sell 33.14 lakh equity shares and Manish Mohanka 6.63 lakh equity shares. Apart from this, Wagner, a company affiliated to TA Associates, a US-based global private equity firm, will sell its entire stake in this company.
- Wagner holds 96.92 lakh equity shares of the company. Wagner invested in Tega Industries in 2011. Presently, the promoter and promoter group hold 85.17 per cent stake in the company and Wagner holds 14.54 per cent.
- Tega Industries, which provides services such as screening, mining and material handling to global mineral companies, started its business in 1978 in association with foreign company Skaga AB Sweden.
- Kolkata-based Tega Industries provides comprehensive solutions to global clients in the mineral beneficiation, mining and bulk solids handling industries through its wide product portfolio. It has six manufacturing facilities across the world.
- Talking about the revenue from the business of the company, it had a revenue of Rs 85 crore in FY 2020 and Rs 805.52 crore in FY 2021. The company had a profit of Rs 65.50 crore in the financial year 2020 and a total profit of Rs 136.40 crore in the financial year 2021.
- Axis Capital and JM Financial are the merchant bankers to the public issue. The shares of the company will be listed on both BSE and NSE.
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