ICICI Prudential Mutual Fund raises stake in THIS Rekha Jhunjhunwala-owned insurance stock

Rekha Jhunjhunwala stocks: ICICI Prudential Fund informed exchanges that it has raised its stake in the general insurance company, Star Health and Allied Insurance, also part of Rekha Jhunjhunwala's portfolio, to past 5% mark.

The mutual fund house in a filing on May 5 said that the schemes of ICICI Prudential Mutual Fund acquired 13,85,269 shares of the company via the secondary market, taking its holding past 5% in the insurance company.

"ICICI Prudential Mutual Fund (the Fund) under its various schemes holds equity shares of Star Health and Allied Insurance Company Ltd. (the Company) whose shares are listed on your Stock Exchange. In this regard, kindly note that the schemes of the Fund have done acquisition of 13,85,269 shares of the company on May 02, 2025. As a result of the aforesaid purchase, the shareholding of the Fund has exceeded 5% of the paid-up capital of the company," the exchange filing said.

Prior to the latest stake purchase, ICICI Prudential held 2,91,58,788 shares of this Rekha Jhunjhunwala stock, representing a 4.96% stake. Now, its holding stands at 3,05,44,057 shares or 5.20%.

Rekha Jhunjhunwala Portfolio Stocks

Meanwhile, Rekha Jhunjhunwala, classified as part of the promoter group of Star Health and Allied Insurance, held 1,78,70,977 shares of the company, representing a 3.04% stake as of the March 2025 quarter.

Her husband and well-known market investor, late Rakesh Jhunjhunwala, held 8,28,82,958 shares or 14.10% stake. He was classified as a promoter of the company, too.

Star Health Share Price Trend

Barring a gains of 2% in the last one month, Star Health's performance has been dismal in the last one year. The stock is down 18% on a three-month basis while it has lost 26% in the past six months. Star Health share price has also dropped 35% in the last one year.

On Tuesday, May 6, Star Health's share price settled 5% lower at ₹356.15 on the BSE.

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