 "Apis Partners sells shares of insurance firm Star Health for Rs 553 crore")
Private equity firm Apis Partners on Friday sold shares of health insurer Star Health and Allied Insurance Company for Rs 553 crore through an open market transaction.
London-based Apis Partners through its affiliate Apis Growth 6 Ltd disposed of shares of Star Health on the BSE.
According to the bulk deal data available with the BSE, Apis Growth 6 offloaded 1,00,00,000 shares of the company.
The shares were sold at an average price of Rs 553.01 apiece, taking the deal size to Rs 553 crore.
Meanwhile, ICICI Prudential Life Insurance Company acquired 30 lakh shares of Star Health and Allied Insurance through a bulk deal on the BSE.
In a separate transaction, Apis Partners offloaded shares of Star Health and Allied Insurance Company for Rs 551 crore through open market transactions.
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Apis Growth 6 disposed of 99,60,728 shares of Star Health in two tranches at an average price of Rs 553 apiece, as per the block deal data on the BSE.
This took the deal value to Rs 550.82 crore.
These shares were acquired by ICICI Prudential Mutual Fund and ICICI Prudential Life Insurance.
Shares of Star Health and Allied Insurance Company fell 2.92 per cent to close at Rs 546.05 apiece on the BSE.