Rakesh Jhunjhunwala raises promoter stake in Star Health; 5 MF houses too pick shares of this insurance company

In the newly listed Star Health and Allied Insurance company, ace investor Rakesh Jhunjhunwala along with his wife Rekha Jhunjhunwala has increased stakes in the company, the December-end shareholding pattern of the company available on the BSE revealed. 

Rakesh Jhunjhunwala, who is also known as the Big Bull of the Indian market, along with wife Rekha Jhunjhunwala, has bought promoter stakes of 17.5 per cent, which comprises 100,753,935 equity shares in Star Health and Allied Insurance, Q3 shareholding pattern mentioned. 

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On December 10, 2021, Star Health and Allied Insurance shares made a tepid debut on the stock market by 6 per cent discount to Rs 848.8 per share on the BSE and Rs 845 per share on the NSE as compared to issue price of Rs 900 per share at the upper end. 

As many as 5 mutual fund houses have entered into the stock, picking up to 1.2 per cent stakes. The MF firms - Edelweiss Recently Listed IPO Fund Regular Plan Growth (1.19 per cent); Union Flexi Cap Fund Growth (0.73 per cent); Union Large & Midcap Fund Regular Growth (0.89 per cent). 

While Union Largecap Fund Regular Growth (0.71 per cent); Union Midcap Fund Regular Growth (0.93 per cent) have also made an entry in the stock. 

Rakesh Jhunjhunwala, who is also known as the Big Bull of the Indian stock market, along with his wife and associates publicly holds 38 stocks with a net worth of over Rs 34,441.5 crore. 

The stock on Thursday closed flat with positive bias to 823.35 per share on the BSE, as compared to 0.14 per cent rise in the S&P BSE Sensex. The counter is down 8.5 per cent since the issue price and down 3 per cent from the listing price on the BSE.