Madison India Capital Exits Star Health With Rs 299 Crore Stake Sale; Greenlam Industries Sees Block Deal Worth Rs 231 Crore

New Delhi, September 17, 2025 – Madison India Capital, a private investment company, has completely exited Allied Insurance and Star Health, selling its entire 1.15 per cent holding for approximately Rs 299 crore through an open market transaction.

Madison India Capital Offloads Stake in Star Health

As per bulk deal data on the NSE, Madison India Capital, via its subsidiary MIO Star, sold 67.72 lakh equity shares of the Chennai-based health insurance company. The shares were disposed of at Rs 441.01 each, worth Rs 298.67 crore.

PI Opportunities AIF V LLP, which is a unit of Premji Invest, turned out to be one of the major buyers, acquiring 45.35 lakh shares or 0.77 per cent holding for Rs 200 crore at an average price of Rs 441 per share. Other buyers’ details were not available on the exchange immediately. Significantly, in May 2024, Madison India Capital and two other companies had collectively offloaded 7.06 per cent holding of the company for Rs 2,210 crore.

Greenlam Industries Block Deal Worth Rs 231 Crore

In a bulk deal on the BSE, a separate, public shareholder in Greenlam Industries, Hydra Trading Pvt Ltd, disposed of 94.36 lakh shares, representing a 3.7 per cent holding, for Rs 231.62 crore. Shares were sold at an average price of Rs 245.45 each.

Upnishad Trustee Advisory Services Pvt Ltd bought the entire holding at identical rates. After the deal, shares of Greenlam Industries increased by 2.12 per cent to close at Rs 250.65 on the BSE. Both transactions highlight sustained investor interest in the insurance and building materials space, with Star Health and Greenlam Industries shares seeing positive traction after transactions.

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