First major IPO in India after Paytm's dismal debut ends flat
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Mumbai
SHARES of Star Health and Allied Insurance listed in Mumbai on Friday (Dec 10), the first test since Paytm's debut last month to gauge investor enthusiasm for richly valued stocks that offer poor prospects for near-term profitability.
The stock see-sawed in a weak debut, after failing to attract investor interest in a blockbuster year for domestic listings. Shares of the country's largest private health insurer were down 6 per cent in pre-open trade before reversing course to gain 4.4 per cent, eventually ending the day flat.
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