Jhunjhunwala still in race to acquire Star Health Insurance: Report

Big Bull Rakesh Jhunjhunwala on Friday said he is still in race to acquire a stake in Star Health Insurance, according to a media report.

In reply to a query by CNBC TV18, he said he is waiting for approval from the Irdai.

Earlier, reports emerged that the ace investor may not acquire stake in Start Health Insurance due to concerns over its financial performance in the last two quarters.


Jhunjhunwala is believed to be looking to buy 35 per cent stake in the insurer for an investment of Rs 2,250-2500 crore.

ET had in August last year reported that Safecrop Holdings, a consortium of WestBridge AIF, Rakesh Jhunjhunwala and Madison Capital, has signed definitive agreements with the shareholders of Star Health & Allied Insurance Co to purchase their stock in the country’s largest independent health insurer.