Financial Insights

Star Health IPO shares trade with double-digit premium in the Grey market

The Rs 7,249.18-crore Star Health issue will be the 54th initial share sale to be launched in this year. The price band is set at Rs 870-900 per share.

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance Company shares recorded strong demand in the grey market, trading with double-digit premium on the very first day after setting the price band for its public issue.

The company will launch its initial public offering for subscription on November 30 and the offer will close on December 2. The price band has been fixed at Rs 870-900 per equity share.

Star Health shares are available at a price of Rs 1,050 in the grey market at a premium of Rs 150 or 16.7 percent over the upper price band of Rs 900, as per the IPO Watch and IPO Central.

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