This would be the maiden investment for ICICI Venture, a subsidiary of ICICI Bank, from its new $500 million PE fund India Advantage Fund Series 3, said an official release by the company.
Star Health is a Chennai-headquartered company headed by V Jagannathan that has garnered a gross premium of around $200 million in 2009-10. It is promoted by shareholders of the Middle-East-based conglomerateETA, Ascon group and Oman Insurance Company, a subsidiary of the UAE-based Mashreq Bank.
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