Star Health Stake Divested for Rs 2,210 Crore
By Rediff Money Desk, New Delhi May 23, 2024 20:02
Three entities, Apis Partners, Madison India Capital, and ROC Capital, have divested a 7.06% stake in Star Health and Allied Insurance for Rs 2,210 crore through open market transactions.
New Delhi, May 23 (PTI) Three entities -- Apis Partners, Madison India Capital and ROC Capital -- on Thursday divested a 7.06 per cent stake in health insurer Star Health and Allied Insurance for Rs 2,210 crore through open market transactions.
London-based Apis Partners through its affiliate Apis Growth 6 Ltd sold over 1.52 crore shares or 2.61 per cent stake in Star Health and Allied Insurance, while ROC Capital via its arm ROC Star Investment Trust offloaded 59.08 lakh shares or 1.01 per cent stake of the health insurer.
In addition, Madison India Capital through its affiliates MIO IV Star disposed of a little over 1.40 crore shares of Star Health and MIO Star sold 61.34 lakh shares, representing a 2.39 per cent and 1.05 per cent stake, respectively, in Chennai-based health insurance company, as per the block deal data on the National Stock Exchange (NSE).
The shares were sold at an average price of Rs 535 apiece, taking the combined transaction value to Rs 2,210.53 crore.
After the stake sale, Apis Partners and ROC Capital have exited the firm by selling their entire -- 2.61 per cent and 1.01 per cent stake -- in Star Health.
However, Madison India Capital has sold a 2.39 per cent stake in the insurer. It has now a 1.16 per cent stake in the firm.
The shares were acquired by a clutch of domestic mutual funds (MFs), an insurance company and foreign investors.
HDFC Mutual Fund (MF), UTI MF, ICICI Prudential Life Insurance Company, BNP Paribas Arbitrage, Chanakya Wealth Creation Fund, Citigroup Global Markets Mauritius, and Clarious Capital 1 were among the buyers of the shares of Star Health.
East Bridge Capital Master Fund I, Emerge Capital Opportunities Scheme, Goldman Sachs, Morgan Stanley Asia Singapore, Plutus Wealth Management, and Societe Generale also picked up stakes in the company.
Shares of Star Health and Allied Insurance Company rose 1.31 per cent to close at Rs 547 apiece on the NSE.
In March this year, private equity firm Apis Partners sold shares of Star Health and Allied Insurance for Rs 553 crore.
In August last year, ROC Capital, Madison Capital and the University of Notre Dame sold shares of the insurer for Rs 1,312 crore.
London-based Apis Partners through its affiliate Apis Growth 6 Ltd sold over 1.52 crore shares or 2.61 per cent stake in Star Health and Allied Insurance, while ROC Capital via its arm ROC Star Investment Trust offloaded 59.08 lakh shares or 1.01 per cent stake of the health insurer.
In addition, Madison India Capital through its affiliates MIO IV Star disposed of a little over 1.40 crore shares of Star Health and MIO Star sold 61.34 lakh shares, representing a 2.39 per cent and 1.05 per cent stake, respectively, in Chennai-based health insurance company, as per the block deal data on the National Stock Exchange (NSE).
The shares were sold at an average price of Rs 535 apiece, taking the combined transaction value to Rs 2,210.53 crore.
After the stake sale, Apis Partners and ROC Capital have exited the firm by selling their entire -- 2.61 per cent and 1.01 per cent stake -- in Star Health.
However, Madison India Capital has sold a 2.39 per cent stake in the insurer. It has now a 1.16 per cent stake in the firm.
The shares were acquired by a clutch of domestic mutual funds (MFs), an insurance company and foreign investors.
HDFC Mutual Fund (MF), UTI MF, ICICI Prudential Life Insurance Company, BNP Paribas Arbitrage, Chanakya Wealth Creation Fund, Citigroup Global Markets Mauritius, and Clarious Capital 1 were among the buyers of the shares of Star Health.
East Bridge Capital Master Fund I, Emerge Capital Opportunities Scheme, Goldman Sachs, Morgan Stanley Asia Singapore, Plutus Wealth Management, and Societe Generale also picked up stakes in the company.
Shares of Star Health and Allied Insurance Company rose 1.31 per cent to close at Rs 547 apiece on the NSE.
In March this year, private equity firm Apis Partners sold shares of Star Health and Allied Insurance for Rs 553 crore.
In August last year, ROC Capital, Madison Capital and the University of Notre Dame sold shares of the insurer for Rs 1,312 crore.
Source: PTI
Read More On:
star healthhealth insurancestake saleapis partnersmadison india capitalroc capitalopen market transactionsblock dealnsemutual fundshdfc mutual funduti mficici prudential life insurancebnp paribaschanakya wealth creation fundcitigroup global markets mauritiusclarious capital 1east bridge capital master fundemerge capital opportunitiesgoldman sachsmorgan stanleyplutus wealth managementsociete generale
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Jaiprakash Power Ven
- 22.15 (+ 10.58)
- 56029440
- Spicejet Ltd.
- 65.76 (+ 4.71)
- 36362452
- Vodafone Idea L
- 9.19 ( -3.26)
- 33388753
- Jyoti Structures
- 32.15 (+ 9.99)
- 24306568
- Evexia Lifecare
- 4.20 (+ 5.00)
- 23022988
MORE NEWS
Ratan Tata Dies: Industry Leaders Mourn
Industry leaders mourned the death of Ratan Tata, praising his business legacy and...
AI Revolution: Amazon CEO on Ecommerce...
Amazon CEO Doug Herrington highlights the transformative power of AI in ecommerce, with...
India & Italy Explore Agricultural Cooperation
India and Italy discussed potential areas of collaboration in agriculture, including...