Star Health has received approval from Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday for the proposed transmission of 8,28,82,958 equity shares held by Late Rakesh Jhunjhunwala, the largest shareholder of the company, and the said transmission will be carried out in the manner prescribed under the probate granted in the name of Jhunjhunwala. Jhunjhunwala, whose fortune is believed to be worth approximately Rs 50,000 crore, had arranged to ensure his estate, including shares and property, is bequeathed to his wife and three children.
IRDAI approves transmission of late Jhunjhunwala’s stake in Star Health
