WestBridge Begins Process to Exit Star Health Stake – Report WestBridge Capital is preparing to exit its significant stake in Star Health and Allied Insurance after recently launching a general insurance company, Kiwi General Insurance.
The move follows approval from the Insurance Regulatory and Development Authority of India (IRDAI) for Kiwi's operations in November 2024.
According to Moneycontrol, WestBridge has approached investment banks to present proposals for a mandate to oversee the sale of its stake. JPMorgan is reportedly the preferred adviser.