By Puneet Sikka
Investing.com - Rakesh Jhunjhunwala's backed Star Health and Allied Insurance open for more than Rs 7,000 crore Initial Public Offering (IPO) on Nov 30. The offering closes on December 2 and the price band is fixed at Rs 870-900 per share and you can bid for a minimum of 16 shares. At the upper price band of the IPO, the company will be valued at $7 billion, making it a decent-sized company in terms of market cap.
Interestingly, Rakesh Jhunjhunwala is not selling any of his shares in the IPO. He has a 17.5% stake in the company. The existing promoters and shareholders will sell up to Rs 5,800 crores of their shares while the company will do a fresh issue of shares worth Rs 2,000 crores.
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