Health insurer Star Health cuts IPO size to about $848 million

India`s largest private health insurer Star Health has cut the size of its initial public offering (IPO) to 64 billion rupees ($848.02 million) from 72.49 billion rupees earlier, according to a prospectus dated Dec. 7.

Last week, a source had told Reuters that the company will cut the offer for sale portion of its IPO after the offering received a tepid response during its subscription period.