Star Health and Allied Insurance IPO — Here is how to check your allotment status, GMP at a discount
- Star Health and Allied Insurance has received poor demand from investors as the IPO was not fully subscribed even after extending the cut off time on the last day.
- Shares of the company are trading at a discount in the grey market.
- The allotment of the IPO is scheduled to be today on December 7.
AdvertisementRakesh Jhunjhunwala-backed Star Health and Allied Insurance was a flop among investors as the initial public offering (IPO) was not fully subscribed even on the last of the after extending the cut off time by two hours.
If you have subscribed to the IPO, remember the allotment of the IPO is scheduled for today, December 7.
After failing to get fully subscribed on the last day of the initial public offering (IPO), investment bankers at Rakesh Jhunjhunwala-backed company had cut down on offer for sale (OFS) shares.
On the last day, i.e., December 2, since the issue was only subscribed 79% and hence decided to pare some OFS sales.
Later, the company managed to raise ₹6,410 crore, against its original target of ₹7,249 crore.
The grey market premium of the company's shares continued to fall from day 1 of the IPO and is now at a discount.
Here is how to check
- Go to the BSE website or NSE website here.
- On BSE, Select 'Equity' and then from the dropdown, select ‘Star Health and Allied Insurance’.
- Now, enter your application number and PAN.
- Click on 'Search'.
- Please note the details will only be available once the shares are allotted.
- Visit the registrar's website here.
- Click on 'Select company' and click on ‘Star Health and Allied Insurance’.
- Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
- Enter the captcha and click ’submit’.
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