For those who have watched Scam 1992, Rakesh Jhunjhunwala is not a new name. However, the investor used to be a ‘bear’ in Harshad Mehta’s time and is a Big Bull nowadays. However, not everything is going well for him; as an IPO he currently invested a lot in, has failed to attract investors from the market.
We are talking about Star Health and Allied Insurance Company IPO, which opened on Nov 30, 2021, and closed on Dec 02, 2021. The IPOs will be allotted on Dec 07, 2021, and will go live on the market on December 10, 2021.
Since the IPO was invested in and promoted by Rakesh Jhunjhunwala, the expectations were high from the Star Health IPO. However, after the opening, the response from the investors was cold. After opening at a slow pace, it only managed to get subscribed 79 per cent and failed to reach the 100 per cent mark.
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Rakesh Jhunjhunwala has Jupiter and Mars in their own signs. Moreover, the house related to health is also occupied by Mars. Planets in their own signs make his chart strong, and Mars’s placement in the house of health makes it easier for him to do things related to the health sector.
The Star Health IPO is in a similar category, and it should fetch him good results. However, the reason behind no traction for the IPO can be Ketu’s transit in his sixth house, which makes the IPO prone to speculation.
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