In Star Health’s IPO, a moment of truth for Rakesh Jhunjhunwala

Star is set to become the first standalone health insurance company in India to go public. Will its valuation and a resurgent pandemic spoil the party?

Star Health and Allied Insurance’s initial public offer of shares should have been among the highlights of this year’s unending public listing frenzy. After all, at Rs 7,249 crore, it is the third largest in terms of size this year, behind only those of Paytm and Zomato. 

Yet, Star Health’s draft red herring prospectus, filed ahead of its public issue of shares, has escaped public scrutiny. Unlike the frenzy in the run-up to Paytm and Zomato’s IPOs, Star Health hasn’t attracted any newspaper headlines that deliver verdicts on its draft prospectus or lengthy Twitter threads by analysts dissecting every aspect …


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.