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HomeBusinessA Jhunjhunwala bet that's up 5x in 2.5 years

A Jhunjhunwala bet that’s up 5x in 2.5 years

Mumbai: Billionaire investors Rekha and Rakesh Jhunjhunwala‘s financial investment in IPO-bound Star Health and Allied Coverage jumped nearly fivefold in two-and-a-half decades to ₹8,500 crore, based on the upper conclude of the rate band.

Star Health and fitness is established to turn out to be the 2nd-most significant stock in their portfolio of mentioned providers after Titan, with just about 25% of the portfolio worth when stated.

The Jhunjhunwalas invested ₹1,480 crore in the coverage agency in nine transactions considering the fact that March 2019 at an common cost of ₹156.28 a share, according to its IPO prospectus.

Rakesh Jhujhunwala owns a 4.87% stake in Titan, value ₹10,288 crore based mostly on Wednesday’s current market selling price.

The ₹7,250 crore preliminary public supplying of Star Well being will open for membership on November 30 at a rate band of ₹870-900 for each share. The IPO will be the 3rd premier in 2021, following Paytm and Zomato raised ₹18,300 crore and ₹9,375 crore, respectively.

Bids can be built for a minimal of 16 shares and multiples of 16 thereafter. Some of the sellers in the supply are Safecrop Investments, Konark Rely on, MMPL Rely on, Apis Expansion 6, Mio IV Star, University of Notre Dame Du Lac and ROC Funds. The Jhunjhunwalas are not advertising any stake in the IPO.

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