Madison India Capital Exits Star Health, Hydra Trading Divests Greenlam Stake

Madison India Capital has completed its exit from Star Health and Allied Insurance Company, while Hydra Trading has sold a significant stake in Greenlam Industries. These transactions mark notable shifts in the ownership structures of both companies.

Madison India Capital's Exit from Star Health

Madison India Capital has fully divested its stake in Star Health and Allied Insurance Company, selling its entire 1.15% holding. The transaction involved the sale of 67.72 lakh shares through open market transactions, netting Rs 299.00 crore at a price of Rs 441.01 per share.

A key buyer in this transaction was PI Opportunities AIF V LLP, an affiliate of Premji Invest. The firm acquired 45.35 lakh shares, representing a 0.77% stake in Star Health, for Rs 200.00 crore at Rs 441.00 per share.

The market responded positively to these developments, with Star Health shares closing 1.67% higher at Rs 450.00 on the National Stock Exchange (NSE).

Hydra Trading's Stake Sale in Greenlam Industries

In a separate transaction, Hydra Trading divested its 3.7% stake in Greenlam Industries. The sale involved 94.36 lakh shares, which were sold for Rs 231.00 crore at a price of Rs 245.45 per share. The buyer in this transaction was Upnishad Trustee Advisory Services.

Following this news, Greenlam Industries' shares saw an uptick, rising 2.12% to close at Rs 250.65 on the Bombay Stock Exchange (BSE).

Conclusion

These transactions highlight the dynamic nature of institutional investments in the Indian stock market, with significant stake sales in both the insurance and industrial sectors attracting notable buyers.