In a significant move on Wednesday, Hong Kong-based hedge fund WFM Asia divested a 2.84% stake in Star Health and Allied Insurance Company for approximately Rs 701 crore through an open market transaction. The deal saw over 1.66 crore equity shares being offloaded at an average price of Rs 420.03 per share, marking a key reshuffling in the company’s investor base. Simultaneously, SBI Mutual Fund acquired a similar-sized stake in the health insurer, investing nearly Rs 690 crore for over 1.64 crore shares.