PI Opportunities AIF V LLP, an affiliate of Premji Invest, bought 45.35 lakh shares or 0.77 per cent stake for Rs 200 crore
New Delhi: Private investment firm Madison India Capital on Tuesday exited Star Health and Allied Insurance by divesting its entire 1.15 per cent stake in the company for nearly Rs 299 crore through an open market transaction.
Madison India Capital through its affiliate MIO Star offloaded 67.72 lakh equity shares, representing a 1.15 per cent stake in Chennai-based health insurer Star Health and Allied Insurance, as per the bulk deal data available on the NSE.
The transaction was valued at around Rs 298.67 crore, and was executed at a price of Rs 441.01 apiece.
Meanwhile, PI Opportunities AIF V LLP, an affiliate of Premji Invest, bought 45.35 lakh shares or 0.77 per cent stake for Rs 200 crore.
The shares were acquired at an average price of Rs 441 apiece.
Details of the other buyers of Star Health and Allied Insurance’s shares could not be ascertained on the exchange.
Shares of Star Health and Allied Insurance rose 1.67 per cent to close at Rs 450 apiece on the National Stock Exchange (NSE).
In May 2024, three entities, including Madison India Capital divested a combined 7.06 per cent stake in health insurer Star Health and Allied Insurance for Rs 2,210 crore.