A Jhunjhunwala guess that is up 5x in 2.5 years

0
37


Mumbai: Billionaire investors Rekha and Rakesh Jhunjhunwala‘s funding in IPO-bound Star Health and Allied Insurance coverage jumped nearly fivefold in two-and-a-half years to ₹8,500 crore, primarily based on the higher finish of the value band.

Star Well being is ready to change into the second-biggest inventory of their portfolio of listed firms after Titan, with almost 25% of the portfolio worth as soon as listed.

The Jhunjhunwalas invested ₹1,480 crore within the insurance coverage agency in 9 transactions since March 2019 at a mean worth of ₹156.28 a share, in response to its IPO prospectus.

Rakesh Jhujhunwala owns a 4.87% stake in Titan, price ₹10,288 crore primarily based on Wednesday’s market worth.

The ₹7,250 crore preliminary public providing of Star Well being will open for subscription on November 30 at a worth band of ₹870-900 per share. The IPO would be the third largest in 2021, after Paytm and Zomato raised ₹18,300 crore and ₹9,375 crore, respectively.

Bids might be made for at least 16 shares and multiples of 16 thereafter. A number of the sellers within the provide are Safecrop Investments, Konark Belief, MMPL Belief, Apis Progress 6, Mio IV Star, College of Notre Dame Du Lac and ROC Capital. The Jhunjhunwalas will not be promoting any stake within the IPO.



Source link

HostGator Web Hosting

LEAVE A REPLY

Please enter your comment!
Please enter your name here