Mumbai, July 24, 2026 (Yes Punjab News)
Shares of Star Health and Allied Insurance Company declined more than 1 per cent on Friday after the company’s June-quarter shareholding pattern showed a sharp reduction in the direct shareholding of promoter Rekha Jhunjhunwala, triggering speculation of a major stake sale.
The company, however, clarified in a stock exchange filing that the change was the result of a succession-related transmission and an off-market transfer of shares to promoter entity Sitara Partners LLP, and not an open-market sale or promoter exit.
According to the insurer, Rekha Jhunjhunwala’s direct holding declined after 7.82 crore equity shares inherited from the estate of late investor Rakesh Jhunjhunwala were transferred to Sitara Partners LLP, where she serves as a Designated Partner.
Star Health said the transaction formed part of the settlement of Rakesh Jhunjhunwala’s estate and did not alter the promoter group’s overall shareholding.
The company said the transfer followed approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the transmission of 8.28 crore shares previously held by the late investor.
Following the off-market transfer on June 24, 2026, Sitara Partners LLP’s holding in Star Health rose to 7,82,13,958 equity shares, representing 13.2887 per cent of the company’s total issued and paid-up equity share capital.
The clarification came after some market participants interpreted the June-quarter shareholding disclosures as indicating that Rekha Jhunjhunwala had sold a substantial portion of her stake. Star Health reiterated that the movement in shareholding was an inter-se transfer within the promoter group arising from the succession process and not a disposal of shares.
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