Shares of Star Health and Allied Insurance Company opened in positive territory on Tuesday after major block deals hit the market.
What Happened: ROC Capital, Madison Capital, and the University of Notre Dame, executed open market transactions, collectively divesting shares of Star Health worth ₹1,312 crore.
According to data available from block deals on BSE, the University of Notre Dame DU LAC, ROC Capital, and Madison Capital collectively unloaded a substantial chunk of 2.15 crore shares of Star Health and Allied Insurance in a series of four tranches.
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These shares were transferred at an average price of ₹610.2 per share, aggregating to an impressive transaction value of ₹1,312.55 crore. Notably, these divested shares were acquired by ICICI Prudential Life Insurance Company and investment funds affiliated with Fidelity Investments.
Price Action: Star Health’s share price was up 0.43% at ₹613.75 at open on Tuesday.
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