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Below is quote on Star Health and Allied Insurance Company Ltd IPO By Mr. Amarjeet Maurya - AVP - Mid Caps, Angel One Ltd

* Star Health and Allied Insurance Company Ltd (Star Health) IPO expected to open on 30th November 2021 and close on 2nd December 2021. The IPO consist fresh issue of Rs2,000cr and an offer for sale of 5.83 crores shares. 

* The IPO aims to utilize the net proceeds to augment the company's capital base and insolvency level.

* The Company is Incorporated in 2006, Star Health and Allied Insurance Company Ltd is one of the largest private health insurers in India with a market share of 15.8% in Fiscal 2021. The company primarily focuses on the retail health market segment. It offers a range of flexible and comprehensive coverage options for retail health, group health, personal accident, and overseas travel, accounting for 87.9%, 10.5%, 1.6%, and 0.01%, respectively, of the total Gross Written Premium (GWP) in Fiscal 2021.

* In FY2021 and the 6 months ended September 30, 2021, they had total Gross Written Premium (GWP) of ₹9,348.95 crore and ₹5,069.78 crore, respectively.

* The company mainly distributes policies through individual agents and also includes corporate agent banks and other corporate agents. As of September 30, 2021, its network distribution includes 779 health insurance branches across 25 states and 5 union territories in India.  Star Health has also built one of the largest health insurance hospital networks in India with more than 11,778 hospitals.

* Star Health reported Gross Written Premium CAGR of ~31% to Rs9,349cr over FY19-21 and on the net profit front, the company has reported a loss of Rs826cr  in FY21. 

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