Tata Capital Growth Fund, a private equity fund managed by Tata Capital, has picked up 14% stake in Chennai-based standalone health insurer Star Health & Allied Insurance. The deal value is around Rs. 1.24 billion.
In 2012, Star Health announced that it was planning to raise Rs. 1.5 billion through private equity by divesting a 6%-8% stake in the company. Earlier, Sequoia Capital had invested around Rs. 1.5 billion in Star Health Investments Pvt Ltd (a special purpose vehicle floated to promote the insurance company); and ICICI Venture had invested around Rs. 1.3 billion in the company.
http://www.indiainfoline.com/Markets/News/Tata-Capital-buys-12-percent-in-Star-Health-and-Allied-Insurance/5614535157
