Star Health IPO is open to 30 November 2021 and closes on 02 December 2021. The company wants to raise ₹7249.18 crore through in this IPO. The IPO will have a fresh issue of ₹2000 crore and an offer for sale of ₹5249.18 crore. The company fixed the price band of this IPO at ₹870 to ₹900 Per Share. The Star Health Insurance first and largest standalone private health insurance company in India.
Star Health and Allied Insurance Co Ltd are India’s first Standalone Health Insurance provider Company. He is providing sterling services in Health, Personal Accident and Overseas Travel Insurance, etc. Our efforts have always been on service excellence and product innovation with a focus on delivering the best to our customers. Star Health has excellent products to cater to everybody, be it individuals, families, or corporates. We work directly as well as through various channels like agents, brokers, online, etc.
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Star Health is also prominently into Bancassurance having long-standing relationships with various Banks. Star Health has underwritten a gross written premium of Rs.6865 Cr during the FY 2019-20 and has built up a promising path with an appreciable net worth of Rs.1889 Cr, as of 31st March 2020. Currently, Star Health has 12800+ employees and 640+ branch offices all over India.
Star Health IPO Review :
■ Apply For Long Term
Star Health IPO Date & Price Band & Details :
| IPO Open : | 30 November 2021 |
| IPO Close : | 02 December 2021 |
| IPO Size : | ₹7249.18. Cr |
| Face Value : | ₹10 Rs. Equity Share |
| Price Band : | ₹870-₹900 Per Share |
| Listing On : | BSE, NSE |
| Issue Size : | ₹7249.18. Cr |
| Fresh Issue : | ₹2000. Cr |
| Offer For Sale : | ₹5249.18 Cr |
Star Health IPO Market Lot :
Star Health IPO Minimum Market lot is 1 Lot with 16 shares with ₹14,400 Application amount. The retail investors can apply up to 13 lots with 208 Shares or ₹187,200 amounts.
| Minimum Lot Size : | 1 lot |
| Minimum Share : | 16 Shares |
| Minimum Amount : | ₹14,400 |
| Maximum Lot Size : | 13 Lot |
| Maximum shares : | 208 Shares |
| Maximum Amount : | ₹187,200 |
Star Health Insurance IPO Shares Offer :
A total of 80,546,447 shares are to be bid for the public issue by Star Health Insurance IPO with 22,222,222 for Fresh issue and 58,324,225 for an offer for sale Shares.
| Category | Shares Offers | Amount |
|---|---|---|
| Fresh issue : | 22,222,222 | ₹2000 Cr |
| Offer For Sale : | 58,324,225 | ₹5249.18 Cr |
| Total : | 80,546,447 | ₹7249.18 Cr |
Star Health IPO Reservation :
Star Health Insurance IPO Total Reservation of 80,546,447 shares are to be bid for the public issue by Star Health IPO with 60,409,835 for QIB and 12,081,967 for NII 80,54,665 For RII & – Shares EMP.
| Category | Reservation | Shares | Amount |
|---|---|---|---|
| QIB : | 75% | 60,409,835 | ₹5436.88 Cr |
| NII : | 15% | 12,081,967 | ₹1087.38 Cr |
| RII : | 10% | 80,54,665 | ₹724.92 Cr |
| EMP : | – % | – | ₹ |
| Total : | 100% | 80,546,447 | ₹7249.18 Cr |
Star Health IPO EPS :
The Star Health company’s EPS growth is decreasing last year, which is shown to you in the table here.
| Year | EPS Growth in (Rs.) |
| 2021-6M | ₹6.93 |
| 2021 | ₹16.54 |
| 2020 | ₹5.59 |
| 2019 | ₹2.81 |
Star Health IPO Peer Comparison PE :
The Star Health , According to DRHP of the Some top company is listed whose PE Multiple is shown in this table.
| Sr. No. | Company | PE Ratio |
| 1. | ICICI Lombard General InsuranceCompany Ltd | 46.66 |
| 2. | New India Assurance Company Limited | 15.30 |
Star Health IPO Dates :
Star Health IPO Date is 30 November 2021 and closes on 02 December 2021 . The allotment will be finalized on 07 December 2021 and the IPO may list on 10 November 2021.
| Open Date : | 30 November 2021 |
| Close Date : | 02 December 2021 |
| Allotment Date : | 07 December 2021 |
| Refund Date : | 08 December 2021 |
| Share Credit Date : | 09 December 2021 |
| Listing Date : | 10 December 2021 |
Star Health IPO Form :
There are two ways to apply in Star Health Insurance IPO. You can apply for Star Health Insurance IPO through ASBA available in your bank account. You have to go to your online bank login and select Star Health Insurance IPO in the Invest section and apply through your bank account. Another option is you can apply for Star Health IPO through IPO form download through NSE and BSE. See the Star Health Insurance IPO Form – Download the NSE Form and BSE Form IPO Form, fill it, and submit it to your bank or your broker.
Star Health Company Financial Report (Cr) :
| Year | Revenue | Expense | PAT |
| 2021 | ₹9,077.76 | ₹1,381.74 | ₹8,255.81 |
| 2020 | ₹4,619.61 | ₹485.36 | ₹2,680.02 |
| 2019 | ₹2,262.54 | ₹440.07 | ₹1,282.26 |
About Star Health Company
Star Health is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in Fiscal 2021, according to CRISIL Research. In Fiscal 2021, we had a total GWP of ₹93,489.50 million. From being the first standalone health insurance (“SAHI”) company established in India in 2006, we have grown into the largest SAHI company in the overall health insurance market in India, according to CRISIL Research. Our comprehensive health insurance product suite insured 20.5 million lives in Fiscal 2021 in retail health and group health, which accounted for 89.3% and 10.7%, respectively, of our total health GWP in Fiscal 2021. We are strategically focused on the retail health market segment and had retail health GWP of ₹82,150.90 million in Fiscal 2021.
We have been consistently ranked first in the retail health insurance market in India based on retail health GWP over the last three Fiscal Years, according to CRISIL Research. The retail health market segment is expected to emerge as a key growth driver for the overall health insurance industry in India after the COVID19 crisis in India due to low penetration of health insurance, high out-of-pocket expenses for healthcare costs, and since only 10% of the population has insurance policies outside of government plans, according to CRISIL Research. In Fiscal 2021, our retail health GWP was over three times the retail health GWP of the next highest retail health insurance market participant, according to CRISIL Research, positioning us well to continue to grow our business and market share.
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The Indian health insurance market continues to be underpenetrated, with a health insurance penetration of only 0.36% of GDP in 2019, compared to the global average of 2.0% of GDP, according to CRISIL Research. India has one of the lowest health insurance densities globally, based on per capita premium, at US$5 in 2019, according to CRISIL Research. A number of demographic factors, including increasing life expectancy, per capita GDP, and population growth in India, as well as the high portion of out of pocket expenses as a percentage of total healthcare expenditure by patients in India (62.67% in 2018), are driving the need of healthcare services and the growth in the health insurance industry in India, according to CRISIL Research.
Awareness of health insurance in India has been growing, including as a result of measures taken by the Government of India, and this trend has been accelerated by the prospect of hospitalization due to COVID-19, as well as the rising cost of medical care in private hospitals and the need for health insurance, according to CRISIL Research. The retail health insurance segment, which accounted for 9% of the total number of lives covered by health insurance in India in Fiscal 2020, contributed 39% of the total health GWP generated in the overall health insurance market in Fiscal 2020, according to CRISIL Research.
This was primarily due to retail health’s higher premium per person compared to other health insurance segments, according to CRISIL Research. Profitability in the retail health insurance segment is also being driven by customer loyalty, which is higher than other health insurance segments, as well as lower claims ratios, which were 73% in retail health, compared to 99% in group health and 92% in government-sponsored health schemes in Fiscal 2020, according to CRISIL Research. In addition, SAHI insurers only had a claims ratio of 59% in relation to their retail health business in Fiscal 2020, compared to 67% and 92% for the private sector and public sector insurers, respectively, according to CRISIL Research.
We distribute our health insurance policies primarily through individual agents, which accounted for 78.9% of our GWP in Fiscal 2021. Individual agents are the primary method of distribution in the health insurance industry since health insurance is largely an assisted product in which customers often require help in selecting the policy best suited to their needs and during the claims process. As of December 31, 2020, we had the largest number of individual agents among SAHI insurers, at three times that of the SAHI company with the next highest number of agents, according to CRISIL Research. Our total number of individual agents grew at a CAGR of 27.3% from 0.29 million in Fiscal 2019 to 0.46 million in Fiscal 2021.
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Under the Insurance Regulatory and Development Authority of India (Appointment of Insurance Agents) Regulations, 2016, insurance agents are only permitted to sell the policies of three insurers: one life insurance company, one non-life insurer, and one health insurer. In our experience, we have found that the growth in productivity of agents we sponsor to become licensed and train tends to be higher than the overall productivity of all of our agents. As of March 31, 2021, we have sponsored and trained 0.06 million individual agents, representing 12.7% of the total number of our individual agents, which grew at a CAGR of 44.7% from Fiscal 2019 to Fiscal 2021.
Our agency distribution channel also includes our corporate agent banks and other corporate agents, which accounted for ₹2,209.19 million and ₹190.96 million, respectively, of our GWP in Fiscal 2021. We have led the non-public health insurance market in terms of a number of new branch openings since Fiscal 2018, and our branch network was over three times the number of the next largest non-public health insurance provider as of December 31, 2020, according to CRISIL Research. As of March 31, 2021.
our distribution network had grown to 737 health insurance branches spread across 26 states Our agency distribution channel also includes our corporate agent banks and other corporate agents, which accounted for ₹2,209.19 million and ₹190.96 million, respectively, of our GWP in Fiscal 2021.and 4 union territories in India. Our existing branches are also supplemented by an extensive network of over 750 Sales Managers Stations (“SMS”), which are small individual service centers, and over 7,000 in-house sales managers, as of March 31, 2021.
Our other origination channels include distribution by direct online sales through telemarketing and our website, brokers, insurance marketing firms, and web aggregators. We offer a range of flexible and comprehensive coverage options primarily for retail health, group health, personal accident and overseas travel, which accounted for 87.9%, 10.5%, 1.6% and 0.01%, respectively, of our total GWP in Fiscal 2021. Our products target a variety of customer segments, including individuals, families, students, senior citizens, as well as persons with pre-existing medical conditions across the broader middle-market customer segment.
Our products include family floater products, in which the sum insured covers the entire family on the payment of a single annual premium; individual products, which are tailored to the needs of the individual; and specialized products, which focus on customers with pre-existing conditions after taking into account the associated risks. We developed these specialized products through our innovation-driven product development process and analysis of market demand and coverage gaps using our market-leading claims processing experience of approximately 6.0 million claims processed since our inception until March 31, 2021. From Fiscal 2018 to February 2021, we launched 49 new products (including all variations of policies).
Our Company Strengths
- We are the largest private health insurance company in India with leadership in the attractive retail health segment.
- We have one of the largest and well spread distribution networks in the health insurance industry and an integrated ecosystem that enables us to continue to access the growing retail health insurance market
- We have a diversified product suite with a focus on innovative and specialized products.
- Strong risk management focus with domain expertise driving a superior claims ratio and quality customer service.
- We have made substantial investment in technology and innovative business processes
- We have consistently demonstrated superior operating and financial performance.
- We have an experienced senior management team with strong sponsorship.
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Company Promoters :
■ Venkatasamy Jagannathan
Star Health Board of Directors
| Name | Designation |
| Venkatasamy Jagannathan | Chairman and CEO |
| Subbarayan Prakash | Managing Director |
| Anand Shankar Roy | Managing Director |
| Sumir Chadha | Non- Executive Nominee Director |
| Deepak Ramineedi | Non-Executive Nominee Director |
| Utpal Hemendra Sheth | Non-Executive Nominee Director |
| Rohit Bhasin | Independent Director |
| Anisha Motwani | Independent Director |
| Berjis Minoo Desai | Independent Director |
| Karthikeyan Devarayapuram Ramasamy | Independent Director |
| Rajni Sekhri Sibal | Independent Director |
| Rajeev Krishnamuralilal Agarwal | Independent Director |
Quick Link :
■ DRHP Draft Prospectus
■ RHP Draft Prospectus
Star Health IPO Lead Managers :
■ Kotak Mahindra Capital Company Limited
■ Axis Capital Limited
■ BofA Securities India Limited
■ Citigroup Global Markets India Private Limited
■ ICICI Securities Limited
■CLSA India Private Limited
■ Credit Suisse Securities (India) Private Limited
■ Jefferies India Private Limited
Co- Book Running Lead Managers
■ Ambit Private Limited
■ DAM Capital Advisors Limited
■ IIFL Securities Limited
■ SBI Capital Markets Limited
Star Health IPO Registrar :
Kfin Technologies Private Limited
Selenium, Tower B,
Plot No- 31 and 32, Gachibowli, Financial District
Nanakramguda, Serilingampally
Hyderabad 500 032
Telangana, India
Tel: +91 40 6716 2222/ 1800 309 4001
E-mail: [email protected]
Investor grievance E-mail: [email protected]
Website: www.kfintech.com
Note: Check Star Health IPO allotment status Visit IPOBAZAR Allotment Page And Search Your Registrar IPO Allotment Link. Click Here
Company Address :
Star Health and Allied Insurance Company Limited
No.1, New Tank Street
Valluvarkottam High Road
Nungambakkam, Chennai
Tamil Nadu 600 034 India
Tel: +91 44 2828 8800
E-mail: [email protected]
Website: www.starhealth.in
Star Health IPO FAQs :
What is Star Health IPO?
Star Health Insurance IPO is Mainboard IPO. They are going to raise ₹7249.18. Crores via IPO. The issue is priced at ₹870-₹900 per equity share. The IPO is to be listed on NSE, BSE.
When Star Health IPO will open?
The IPO is to open on 30 November and closes on 02 December 2021 for QIB, NII & RII.
What is Star Health IPO Size?
Star Health Insurance IPO size is ₹7249.18 Crores.
What is the Fresh issue size of Star Health IPO?
The Fresh issue size of Star Health IPO ₹2000 Cr.
What is the Offer For Sale size of Star Health IPO?
The Offer For Sale size of Star Health IPO ₹5249.18 Cr.
What is Star Health Insurance IPO Price Band?
Star Health IPO Price Band is ₹870-₹900 Per share.
What is Star Health IPO Minimum and Maximum Lot Size?
The minimum bid is 1 Lot 16 Shares with ₹14,400 amount while the maximum bid is 13 Lot 208 shares with ₹187,200.
What is Star Health IPO Investors Portion?
The investors’ portion for QIB is 75%, NII 15%, RII 10%.
What is Star Health IPO Allotment Date?
Star Health IPO allotment date is 07 December 2021.
What is Star Health IPO Listing Date?
Star Health IPO listing date is 10 December 2021. The IPO to list on NSE, BSE.
How to Apply the Star Health IPO through Zerodha?
Log in to Console in Zerodha Website. Go to Portfolio and Click on IPO. You will see the IPO Name “Star Health IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Star Health IPO through Upstox?
Log in to Upstox Website or app. Go to Portfolio and Click on IPO. You will see the IPO Name “Star Health IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Star Health IPO through Groww?
Log in to Groww Website or app. Now you can see IPOs and Click on IPO. You will see the IPO Name “Star Health IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Star Health IPO through Paytm Money?
Log in to the Paytm Money Website or app. Now you can see Invest is IPOs Section and Click on IPO. You will see the IPO Name “Star Health IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
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All-Star Health IPO-related links are available here. If you want to know the details then click on Click Here Link.
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