Private equity firm WestBridge initiates sale process for its 40% holding in Star Health via investment banks, including JPMorgan.
WestBridge Capital has launched a sale process for its approximately 40% stake in Star Health and Allied Insurance, engaging investment banks to explore exit options. JPMorgan has been identified as the preferred adviser for the transaction, which may involve strategic buyers, financial investors, or secondary market sales.
The stake is held through Safecrop Investments India, a consortium formed by WestBridge, late investor Rakesh Jhunjhunwala, and Madison Capital. The firm began soliciting proposals from bankers weeks ago, though deal size, structure, and timing remain undecided, contingent on market conditions and investor interest.
Analysts suggest the exit may be linked to WestBridge’s recent focus on Kiwi General Insurance, a new venture launched in November 2024. Kiwi General recently secured regulatory approval, potentially shifting the firm’s strategic priorities.