Hong Kong-based WFM Asia, through its affiliate WF Asian Smaller Companies Fund, has divested more than 1.66 crore equity shares or 2.84 per cent stake in Star Health and Allied Insurance Company through an open market transaction.
The shares were disposed of at an average price of Rs 420.03 apiece, taking the deal value to Rs 700.86 crore. Meanwhile, SBI Mutual Fund acquired over 1.64 crore shares, representing a 2.8 per cent stake in Star Health for nearly Rs 690 crore. Shares were purchased at an average price of Rs 420 per piece.
Star Health and Allied Insurance Company is and continues to be the largest private health insurer in India.
