First Major IPO After Paytm’s Debut to Test India’s Markets
3 years ago

First Major IPO After Paytm’s Debut to Test India’s Markets

Live Mint  

Shares of Star Health and Allied Insurance Company made its stock market debut on Friday by listing at ₹845 per share on the NSE, a 6% discount to its IPO issue price of ₹900 apiece. “Star Health Insurance IPO got a poor response because of expensive valuations, therefore, we are seeing a poor listing. The long-term outlook for the industry and Star health insurance is promising therefore we can expect buying interest at lower levels but it is difficult to say the exact level. The three-day initial public offering of India's largest private health insurer fell short of target as investors questioned whether the upper price band of ₹900 was justified after Star Health swung to a loss in the year ended March 2021.

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