Three Entities Sell Star Health's Shares Worth Rs 1,312 Crore

Three entities — ROC Capital, Madison Capital and University of Notre Dame — on Monday sold shares of Star Health and Allied Insurance Co. for Rs 1,312 crore through open market transactions.

Investment management firm ROC Capital through its affiliate ROC Star Investment Trust and Madison Capital through its fund MIO IV STAR offloaded the shares of the company.

According to the block deal data available with BSE, University of Notre Dame DU LAC, ROC Capital and Madison Capital offloaded a total of 2,15,10,200 shares of Star Health and Allied Insurance in four tranches.

The shares were offloaded at an average price of Rs 610.2 apiece, taking the combined transaction size to Rs 1,312.55 crore.

These shares were acquired by ICICI Prudential Life Insurance Co. and funds affiliated with Fidelity Investments. Together, both the companies picked up 3.7% stake in health insurance company.

Shares of Star Health and Allied Insurance closed flat at Rs 611.55 apiece on the BSE.

Last month, the company reported a 35% increase in net profit to Rs 288 crore for the June 2023 quarter.