Hotline: 1800 102 2007
X
Search Business Opportunities
Aug, 21 2018

WestBridge, Madison & Rakesh Jhunjhunwala To Acquire Star Health

A consortium comprising WestBridge Capital, Rakesh Jhunjunwala and Madison Capital agrees to acquire Star Health and Allied Insurance.

Star Health and Allied Insurance is being acquired by ace stock market investor Rakesh Jhunjhunwala and a consortium of private equity firms WestBridge Capital and Madison Capital. The buying consortium, Safecrop Holdings Pvt. Ltd., will acquire shares from Star Health Investments Pvt. Ltd. and funds managed or advised by ICICI Venture, Tata Capital and Apis Partners.

The deal size of the acquisition was not disclosed, though it is estimated at around Rs 6,500 crore. The transaction is subject to regulatory and certain other approvals.

Sumir Chadha, co-founder and managing director of WestBridge, said, “We believe the retail health insurance industry will continue to grow at a healthy pace in the coming decade, driven by increasing penetration. This aligns well with WestBridge’s investing philosophy and long-time horizon”.

Founded in 2006, Chennai-based Star Health is the largest health insurance company in India with a market share of 10.6% in health insurance across all the general insurance companies as of 31 March 2018. The company provides health insurance, overseas mediclaim and personal accident policies.

Comment
image
Related opportunities
  • Bakery & Confectionary
    About Us: Bake O Cake is a bakery and confectionery shop,..
    Locations looking for expansion West bengal
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Casual dine Restaurants
    About Us: Manbhavan means ‘pleasing mind’. True to it's name, we..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 1400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Nashik Maharashtra
  • After School Activities
    Started in 2009, SportyBeans is India’s most reputed non-competitive multi-sport..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2010
    Investment size Rs. 10lac - 20lac
    Space required 1200-1500 sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Maharashtra
  • Run your own preschool & provide quality education by joining..
    Locations looking for expansion Goa
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North Goa Goa
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities