STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED INTIAL PUBLIC OFFERING TO OPEN ON NOVEMBER 30, 2021

STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED INTIAL PUBLIC OFFERING TO OPEN ON NOVEMBER 30, 2021

· Price Band fixed at Rs 870 to Rs 900 per equity share of face value of Rs. 10 each of Star Health and Allied Insurance Company Limited (“Equity Shares”)

· Bid /Offer Opening Date – November 30, 2021 and Bid/ Offer Closing Date – December 02, 2021

Mumbai, November 24, 2021: Star Health and Allied Insurance Company Limited (“Company”) to open its Bid/Offer in relation to its initial public offering (“Offer”) on November 30, 2021.

The Price Band of the offer has been fixed at Rs. 870 to Rs. 900 per Equity Share. Bids can be made for a minimum of 16 Equity Shares and in multiples of 16 equity shares thereafter.

The Offer comprises of a fresh issue of up to up to ₹20,000 million (the “Fresh Issue”) and an offer for sale of up to 58,324,225 equity shares, including up to 30,683,553 equity shares by Safecrop Investments India LLP (“Promoter Selling Shareholder”), up to 137,816 equity shares by Konark Trust, up to 9,518 equity shares by MMPL Trust (“Promoter Group Selling Shareholders”) up to 7,680,371 equity shares by Apis Growth 6 Limited, up to 4,110,652 equity shares by Mio IV Star, up to 7,438,564 equity shares by University of Notre Dame Du Lac, up to 4,110,652 equity shares by Mio Star, up to 2,509,099 equity shares by ROC Capital Pty Limited, up to 1,000,000 equity shares by Venkatasamy Jagannathan, up to 500,000 equity shares by Sai Satish and up to 144,000 equity shares by Berjis Minoo Desai (collectively, the “Other Selling Shareholders”).

The offer includes a reservation aggregating up to ₹1,000 million for subscription by eligible employees (“Employee Reservation Portion”).

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company and the Selling Shareholders in consultation with the GCBRLMs, BRLMs and the Co-BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to RIBs in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (ASBA) process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

For details, see “Offer Information” beginning on page 413 of the Red Herring Prospectus.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

^Kotak Mahindra Capital Company Limited, Axis Capital Limited, ^BofA Securities India Limited, ^Citigroup Global Markets India Private Limited, ^ICICI Securities Limited, CLSA India Private Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited, *Ambit Private Limited, *DAM Capital Advisors Limited, IIFL Securities Limited and *SBI Capital Markets Limited are Book Running Lead Managers to the offer.

^Kotak, Axis, BofA, Citigroup and I-Sec are also acting as the GCBRLMs

*Ambit, DAM Capital, IIFL Securities and SBICAP are also acting as the Co-BRLMs.

DISCLAIMER:

STAR HEALTH AND ALLIED INSURANCE COMPANY LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC on November 19, 2021. The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the GCBRLMs, i.e. Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited at https://investmentbank.kotak.com, www.axiscap.in, www.ml-india.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm and www.icicisecurities.com, respectively and the websites of the BRLMs, i.e. CLSA India Private Limited, Credit Suisse Securities (India) Private Limited and Jefferies India Private Limited at www.india.clsa.com, www.credit-suisse.com and www.jefferies.com, respectively and the websites of the Co-BRLMs, i.e. Ambit Private Limited, DAM Capital Advisors Limited, IIFL Securities Limited and SBI Capital Markets Limited at www.ambit.co, www.damcapital.in, www.iiflcap.com and www.sbicaps.com, respectively. Bidders should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section entitled “Risk Factors” on page 26 of the RHP. Potential Bidders should not rely on the DRHP for making any investment decision.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1993, as amended (the “U.S. Securities Act”) or any applicable state securities laws in the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States, only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act, and (ii) outside the United States, in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.