ICICI Prudential Mutual Fund has announced a significant reduction in its shareholding in star health insurance through a substantial share sale disclosed under SEBI regulations. The mutual fund sold 1,22,29,062 shares of the insurance company during an extended period from May 2025 to January 2026.

Major Shareholding Reduction

The fund's shareholding in Star Health and Allied Insurance Company Ltd has decreased substantially following the share sale transaction. The reduction represents a decline of more than 2% of the company's paid-up capital compared to the previous disclosure made on May 05, 2025.

Transaction Details and Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The shares were sold through secondary market transactions over an extended period spanning approximately nine months.

Key Transaction Highlights:

• Net sale of 15,07,850 shares executed on January 29, 2026
• Total disposal of 1,22,29,062 shares since the last filing on May 05, 2025
• All transactions conducted through secondary market sales
• No encumbrances, voting rights, or convertible securities involved

Company Capital Structure Changes

Star Health and Allied Insurance Company's equity share capital showed marginal changes during the transaction period. The company's paid-up capital increased slightly from the last filing date, affecting the percentage calculations for the shareholding disclosure.

Investment Perspective Declaration

ICICI Prudential Mutual Fund emphasized that its holding in Star Health and Allied Insurance Company is maintained from an investment perspective rather than seeking any controlling interest in the company. This clarification aligns with typical mutual fund investment strategies focused on portfolio diversification and returns rather than corporate control.

The disclosure was signed by Rakesh Shetty, Chief Compliance Officer & Company Secretary of ICICI Prudential Asset Management Company Limited, and submitted to BSE Limited on January 30, 2026. The fund continues to hold 1,83,14,995 shares representing 3.11% stake in the insurance company after the substantial disposal.

Star health insurance has formally submitted an application to stock exchanges seeking reclassification of two promoter group entities to public category. The company filed the application with BSE Limited and National Stock Exchange of India Limited on January 30, 2026, under Regulation 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Entities Seeking Reclassification

The application covers two specific entities currently classified under the promoter group category:

Both entities currently hold no shares in Star Health and Allied Insurance Company Limited, as indicated in the regulatory filing.

Regulatory Process and Timeline

The current application follows a series of regulatory communications from the company. Star Health had previously issued intimations on January 19, 2026 (reference SHAI/B&S/SE/147/2025-26) and January 28, 2026 (reference SHAI/B&S/SE/148/2025-26) regarding the reclassification process.

These earlier communications covered the receipt of requests from promoter group members seeking reclassification as public shareholders and the subsequent board meeting outcome approving the reclassification proposal.

Compliance and Documentation

The application has been submitted to both major stock exchanges where Star Health shares are listed. The company trades on BSE Limited under scrip code 543412 and on National Stock Exchange of India Limited under the symbol STARHEALTH.

Company Secretary and Compliance Officer Jayashree Sethuraman signed the regulatory filing, confirming the submission of the reclassification application. The document was digitally signed and submitted from Chennai on January 30, 2026.

Next Steps

Star Health now awaits no-objection or approval from both BSE Limited and National Stock Exchange of India Limited for the proposed reclassification. The exchanges will review the application under the applicable SEBI LODR regulations before providing their decision on the reclassification request.