Star Health not so "starry"
By
Ruma Dubey
about 2 years ago
Star Health, the “Jhujhunwala” IPO got listed at a discount – as against an IPO price of Rs.900, it got listed on the BSE at Rs.848.80 though it did recover and rise to Rs.940. It is now trading at Rs.905 levels.
The IPO had just about managed to scrape through, getting just 79% subscription. Retail Investors portion did well at 110% though QIBs portion was at 1.03 times and HNIs was undersubscribed at 19%. Even employee quota was undersubscribed at 10%.
In our IPO Analysis, we had concluded, “Expensive valuation make the risk-reward is unfavourable, especially after the new covid variant being detected. Hence, we do not recommend the IPO.”