Ace investor Rekha Jhunjhunwala transferred 7.82 crore equity shares to promoter entity Sitara Partners LLP following the transmission of shares inherited from the estate of late investor Rakesh Jhunjhunwala. The company clarified that this was a succession-related transmission and off-market transfer rather than a sale or exit by the promoter group. The transaction was completed on June 24, 2026, with the LLP now holding 13.29% of Star Health's equity share capital. The company emphasized that this did not involve any open-market sale, third-party disposal, or reduction in the promoter group's overall holding.
The transfer followed IRDAI approval for the transmission of 8.28 crore shares previously held by late Rakesh Jhunjhunwala under his estate's probate process. Rekha Jhunjhunwala's direct stake declined after this off-market transfer, though her total promoter holding under Rakesh Jhunjhunwala and Associates remained at nil as of June 30, 2026. The reduction from 15.57% to 3.04% during Q1 FY27 represents a sharp change in her direct holding, with the latest shareholding pattern showing the promoter holding at nil compared with 1.55% at the end of the previous quarter.
Shares of Star Health fell more than 1% on Friday following the announcement of Rekha Jhunjhunwala's significant stake reduction. The stock has staged a strong recovery over the past year, rallying nearly 50% to touch a 52-week high of ₹623.45 on July 14, 2026, after falling to a 52-week low of ₹416.05 in July 2025. During the April-June quarter of FY27, Star Health shares rose nearly 29%. The price at which the shares were transferred and the exact dates of the transactions could not be immediately ascertained, as shareholding disclosures for the June quarter are still being released.
Star Health is a Chennai-headquartered health insurer that claims to have a network of over 14,000 hospitals and more than 850 branch offices across the country. The Jhunjhunwalas' association with Star Health predates the company's market debut, when the late Rakesh Jhunjhunwala held a 14.98% stake in the insurer when it launched its IPO in 2021. The family's shareholding has undergone several changes since then, with Rekha Jhunjhunwala increasing her personal stake to 15.57% in the December quarter of FY26 before reducing it sharply in the latest quarter.
Data suggests that the 'Big Bull' acquired the insurer's shares through nine transactions between March 2019 and November 2021 at an average price of ₹155.28 per share. Since then, the Jhunjhunwala family has actively reshuffled its holdings in the company. Rekha Jhunjhunwala increased her personal stake to 15.57% in the December quarter of FY26 from 3.04% in the September quarter, before reducing it sharply in the latest quarter. As per the latest corporate shareholding disclosures, Rekha Jhunjhunwala has publicly disclosed investments in 26 listed companies with a combined portfolio value of more than ₹47,085.4 crore.
