A not so Star(ry) IPO and Kotak leads race for Citi’s assets

Star Health IPO's underperformance raises a big question, and Kotak Mahindra Bank leads the race for Citibank's India assets

Hi, this is Ashwin here. We are late today because we were waiting for Star Health and Allied Insurance’s IPO to close. Alas, it looks like a long wait. But the message is clear. Just like Murphy's law, which famously states that “anything that can go wrong will go wrong,” the IPO too seems to have met the same fate. But who should really take the blame for an IPO that’s gone horribly wrong? In better news, Uday Kotak’s Kotak Mahindra Bank may firmly be in the lead to pick up Citibank’s retail assets in India. Read on. 

Star Health’s …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

Editor, Banking




Ashwin Manikandan

Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.