Private investment firm Madison India Capital has divested its entire 1.15% stake in Star Health and Allied Insurance, yielding nearly ₹299 crore through an open market transaction. According to bulk deal data from the National Stock Exchange (NSE), Madison India Capital, via its affiliate MIO Star, sold 67.72 lakh equity shares, representing the aforementioned stake in the Chennai-based health insurer.
The transaction was valued at approximately ₹298.67 crore and executed at a price of ₹441.01 per share. Concurrently, PI Opportunities AIF V LLP, affiliated with Premji Invest, acquired 45.35 lakh shares, equivalent to a 0.77% stake, for ₹200 crore, also at an average price of ₹441 per share. The identities of other buyers involved in the share transactions have not been disclosed.
After the announcement, shares of Star Health and Allied Insurance increased by 1.67%, closing at ₹450 per share on the NSE. Notably, in May 2024, Madison and two other entities had collectively divested a 7.06% stake in Star Health for ₹2,210 crore.
In a separate notable transaction, Hydra Trading Pvt Ltd, a public shareholder in Greenlam Industries, sold 94.36 lakh shares—or 3.7% of the company’s stake—for ₹231 crore through a block deal on the Bombay Stock Exchange (BSE). These shares were sold at an average price of ₹245.45 each, bringing the total deal value to ₹231.62 crore. Upnishad Trustee Advisory Services Pvt Ltd acquired the shares at the same price point. Following the announcement, shares of Greenlam Industries rose 2.12%, settling at ₹250.65 per share on the BSE.
The transactions highlight the dynamic nature of investment activities within the insurance and manufacturing sectors in India.
Published on September 17, 2025
