“Awaiting approval from IRDA” says Rakesh Jhunjhunwala over investment plan in Star Health Insurance

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The big bull of Indian stock market, Rakesh Jhunjhunwala who is known for his interesting investing pattern and his infallible foresight for investing in business has himself given clarification regarding the rumour that his consortium is reluctant to buy stake in Star Health Insurance.

Jhunjhunwala recently said in an interview said that the company is in fact “awaiting approval from Insurance Regulatory and Development Authority (IRDA).” Giving rest to the earlier speculation of pulling out of the deal in which he wanted to buy 35% stake in Star Health Insurance.

Jhunjhunwala is believed to be looking to buy 35% stake in the insurer for an investment of ₹2,250-2500 crore.
According to some media reports, Safecrop Holdings, a consortium of WestBridge AIF, la Rakesh Jhunjhunwaand Madison Capital, has signed definitive agreements with the stakeholders of Star Health & Allied Insurance Companies for the purchase about 35% stock in the country’s largest independent health insurer.

Rakesh Jhunjhunwaan is an Indian Billionaire investor and trader known his infallible foresight in stock market business. He manages his own portfolio as a partner in his asset management firm named- Rare Enterprises and is also known “Pied Piper of Indian bourses”.

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