Star Health, after getting just 79% response for the non-anchor portion of its recently closed IPO, has decided to cut the size of the issue from Rs.7,249 crore to Rs.6,400 crore. The lack of interest was visible in the HNI portion, despite the backing of ace investor, Rakesh Jhunjhunwala. The big test for the IPO will be the listing on Friday, 10-December as it is already trading in the grey market at a discount to the IPO price.
Star Health, after getting just 79% response for the non-anchor portion of its recently closed IPO, has decided to cut the size of the issue from Rs.7,249 crore to Rs.6,400 crore. The lack of interest was visible in the HNI portion, despite the backing of ace investor, Rakesh Jhunjhunwala. The big test for the IPO will be the listing on Friday, 10-December as it is already trading in the grey market at a discount to the IPO price.