Star Health: Promoter Group Seeks Reclassification to Public Category

Star Health and Allied Insurance Company Limited has received requests from several shareholders, previously part of the promoter group associated with the late Rakesh Jhunjhunwala, to be reclassified as 'Public' shareholders. These entities, including AERS Consultancy Services Private Limited and Alchemy Capital Management Private Limited, are seeking this change under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. They assert they no longer hold shares or exercise control over the company, citing the transmission of shares held by the late promoter and their own lack of significant shareholding or board representation. The company will proceed with the necessary steps, including board and exchange approvals, to process these requests.