Certain Equity Shares of Star Health and Allied Insurance Company Limited are subject to a Lock-Up Agreement Ending on 26-MAR-2024.
Details:
The promoters, Safecrop Investments India LLP and Rakesh Jhunjhunwala have agreed not to dispose of an aggregate of 20% of the fully diluted post-Offer Equity Share capital for 3 years from the offer allotment date.
Pursuant to the in principal approval received dated July 8, 2021 from IRDAI, the Promoters? post-Offer holding shall not fall below 50% of the total paid-up Equity Share capital of the Company and shall remain locked in up to March 26, 2024. Consequently, the Promoters can divest only 7.32% of the proportion of their holding in the Company.
In addition to the 20% of the fully diluted post-Offer shareholding of Company held by Promoters locked in for three years as specified above, the entire pre-Offer Equity Share capital of Company will be locked-in for a period of one year from the date of Allotment except for the Equity Shares offered pursuant to the Offer for Sale.