India's largest health insurance company in terms of profits and premium, Star Health is being acquired for a billion dollars by Rakesh Jhunjhunwala and a consortium led by WestBridge Capital. Yash Jain broke this story on July 20th.

After 18 month long bidding, we finally have a buyer for Star Health Insurance. A consortium of Rakesh Jhunjhunwala along with WestBridge Capital have been selected as the final buyer for Start Health Insurance and sources tell us that it was a race between this particular consortium with ICICI Lombard General Insurance.

ICICI Lombard General Insurance had placed a bid amount of approximately Rs 5,800 crore whereas the consortium led by Rakesh Jhunjhunwala had submitted a bid amount of approximately Rs 6,500 crore. So the valuation aspect of this particular transaction went in favour of the consortium led by Rakesh Jhunjhunwala.

- Rakesh Jhunjhunwala will be a promoter of Start Health with 35 percent stake in the company.

- Safecrop Holdings will be the new owner of Start Health

- Safecrop Holdings comprises of WestBridge AIF, Rakesh Jhunjhunwala, Madison Capital

First Published:Aug 18, 2018 4:04 PM IST