Upcoming two IPOs of India set to take the value to around Rs. 7,868 crore

Next week, two initial public offerings (IPOs) valued around Rs. 7,868 crore will be launched. Star Health Insurance and Tega Industries are the two public topics we’re discussing. Big Bull and his wife Rekha Jhunjhunwala own 17.26% of Star Health and Allied Insurance Company, which is owned by Rakesh Jhunjhunwala. The IPO for Star Health Insurance will begin on November 30, 2021, while the IPO for Tega Industries will begin on December 1, 2021.

Here are some essential information about the planned IPOs this week:

Star Health Insurance IPO: The public offering of 7,249.18 crores will be on sale on November 30th, 2021, and will be ready for bidding until December 2nd, 2021. The price band for the public offering has been set at $870 to 900 per equity share, with an 80% discount available to corporate workers who apply for the public offering. A bidder will be allowed to apply in lots, with each lot containing 16 business shares. The company’s shares will be listed on both the NSE and the BSE, and the Star Health Insurance IPO is expected to take place on December 10th, 2021.

Big Bull and his wife Rekha Jhunjhunwala own shares in Star Health and Allied Insurance Company, which is backed by Rakesh Jhunjhunwala. Rakesh Jhunjhunwala owns 14 percent of the company, according to the Red Herring Prospectus (RHP) for the public offering, while his wife Rekha Jhunjhunwala holds 3.26 percent.

Tega Industries IPO: The public offer totaling 619.23 crores will start for subscription on December 1st, 2021, and will stay open till December 3rd, 2021. The price band for the public offering has been set at 443 to 453 per equity share, and it is a 100% OFS (Offer for Sale). A bidder will be allowed to apply for the public offer in lots, with each lot containing 33 business shares. Tega Industries’ shares will be listed on both the NSE and the BSE, with an anticipated share listing date of December 13th, 2021.

On whether one should subscribe to these IPOs; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “The bidders are advised to keep a watch on the markets as new Covid variant has hit Indian and other global markets severely. If the Nifty goes down below 17,000 then there could be further selloff taking place in the market and in that case, these public issues will have to get opened in a bear-hit market.”

 See the upcoming IPO list below:

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