Madison India Capital's Strategic Exit: A Major Shake-Up in Star Health Shares

Madison India Capital has divested its 1.15% stake in Star Health, netting nearly Rs 299 crore. The sale was executed at Rs 441.01 per share. Simultaneously, PI Opportunities AIF V LLP, linked to Premji Invest, acquired 0.77% of Star Health, with the stock rising 1.67% on the NSE.

In a significant financial maneuver, Madison India Capital has successfully exited from Star Health and Allied Insurance, shedding its entire 1.15% stake. This transaction was valued at nearly Rs 299 crore and was conducted in an open market setting.

The divestment involved offloading 67.72 lakh shares at a price of Rs 441.01 each, marking a calculated exit from the Chennai-based health insurer. Concurrently, PI Opportunities AIF V LLP, an affiliate linked to Premji Invest, acquired a 0.77% stake in Star Health for Rs 200 crore, reflecting a strategic entry at an average price of Rs 441 per share.

While Star Health shares rose 1.67% closing at Rs 450 on the NSE, it's notable that in May 2024, Madison, along with other entities, divested a cumulative 7.06% stake. In a parallel transaction, Hydra Trading Pvt Ltd sold a significant portion of shares in Greenlam Industries, resulting in a 2.12% increase in share price.