NSEAs many as 4.1 crore shares, or 7.05% equity of Star Health Insurance, worth ₹2,210.5 crore changed hands at ₹535 per share in pre-market block deal window on Thursday, May 23.The buyers and sellers of the block deal are not yet known.On Wednesday, CNBC-TV18 had reported, citing sources that some of the existing investors of the late Rakesh Jhunjhunwala-promoted Star Health Insurance Ltd. were likely to offload their stake in a block deal.The existing shareholders such as MIO Star, APIS Growth and ROC Capital were likely to offload their stake in the deal, the sources had said.As per sources, the block deal could be worth $250 million to $270 million and the price band for the same could be between n ₹530 to ₹545 per share, which is around the current market price for the stock.As per the March quarter shareholding pattern, MIO, via two entities, held a 4.6% stake in Star Health, while APIS Growth had a 2.6% stake and ROC Capital held a 1% stake in the company.Within the promoter group, 14.16% equity is named after Rakesh Jhunjhunwala, the veteran investor.
Rekha Rakesh Jhunjhunwala owns a 3.05% stake at the end of the March quarter.The company made its stock exchange debut in December 2021, when it had fixed its IPO price at t ₹900 per share.
The stock is down 40% from its IPO price and has been among the worst performing IPOs in the post-Covid era.Star Health shares ended 0.79% lower at 549 apiece on Wednesday, May 22.
NSE
As many as 4.1 crore shares, or 7.05% equity of Star Health Insurance, worth ₹2,210.5 crore changed hands at ₹535 per share in pre-market block deal window on Thursday, May 23.The buyers and sellers of the block deal are not yet known.On Wednesday, CNBC-TV18 had reported, citing sources that some of the existing investors of the late Rakesh Jhunjhunwala-promoted Star Health Insurance Ltd. were likely to offload their stake in a block deal.The existing shareholders such as MIO Star, APIS Growth and ROC Capital were likely to offload their stake in the deal, the sources had said.As per sources, the block deal could be worth $250 million to $270 million and the price band for the same could be between n ₹530 to ₹545 per share, which is around the current market price for the stock.As per the March quarter shareholding pattern, MIO, via two entities, held a 4.6% stake in Star Health, while APIS Growth had a 2.6% stake and ROC Capital held a 1% stake in the company.Within the promoter group, 14.16% equity is named after Rakesh Jhunjhunwala, the veteran investor. Rekha Rakesh Jhunjhunwala owns a 3.05% stake at the end of the March quarter.The company made its stock exchange debut in December 2021, when it had fixed its IPO price at t ₹900 per share. The stock is down 40% from its IPO price and has been among the worst performing IPOs in the post-Covid era.Star Health shares ended 0.79% lower at 549 apiece on Wednesday, May 22.
