Star Health & Allied Insurance IPO - Listing Day

Star Health & Allied Insurance had a weak listing on 10th December and listed at a discount of -6.11%, but managed to close the day around the IPO price. The stock did show a sharp bounce during the day, and recovered early losses.

With just 79% subscription and consistent discount in the grey market, Star Health, backed by Rakesh Jhunjhunwala, was expected to list at a discount. However, the smart recovery was a surprise. Here is the Star Health & Allied Insurance listing story on 10-Dec.

The Star Health & Allied Insurance IPO price was fixed at the upper end of the band at Rs.900 which was fairly surprising considering the fact that the issue was subscribed just 79% and the size of the IPO had to be reduced by Rs.839 crore. The price band for the IPO was Rs.870 to Rs.900.

On 10th Dec, the stock of Star Health & Allied Insurance listed on the NSE at a price of Rs.845, a discount of -6.11% below the issue price of Rs.900. On the BSE also, the stock listed at Rs.848.80 a discount of -5.69% to the issue price.

On the NSE, Star Health & Allied Insurance closed on 10-Dec at a price of Rs.901, a first day closing premium of Rs.1 or 0.11% on the issue price of Rs.900. On the BSE, the stock closed at Rs.906.85, a first day closing premium of 0.76% on the issue price. On both the exchanges, the stock listed at a discount to the issue price, but managed to close the day above the IPO issue price, albeit with marginal gains.

On Day-1 of listing, Star Health & Allied Insurance touched a high of Rs.940 on the NSE and a low of Rs.828. The discount compressed through the day. On Day-1 of listing, the Star Health & Allied Insurance stock traded a total of 134.65 lakh shares on NSE amounting to value of Rs.1,208.18 crore.  On 10-Dec, Star Health was the second most active share on NSE by traded value.

On the BSE, Star Health & Allied Insurance touched a high of Rs.940 and a low of Rs.827.50. On BSE, the stock traded a total of 5.99 lakh shares amounting to value of Rs.53.75 crore. It was the sixth most active share on the BSE in terms of trading value.

At the close of Day-1 of listing, Star Health & Allied Insurance had a market capitalization of Rs.52,191 crore with free-float market cap of Rs.4,175 crore.

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