Star Health and Allied Insurance Co. Ltd. has informed exchanges that it is withdrawing its earlier application for the reclassification of certain promoter group entities. The application, initially filed on August 14, 2026, sought to move these entities from the ‘Promoter Group’ category to the ‘Public’ category. The withdrawal is based on the winding up of ‘Industrial Glass Fiber Industries and Interics’ and a request from promoters regarding ‘IDC Electronics Limited’.
Application Withdrawal for Promoter Reclassification
Star Health and Allied Insurance Co. Ltd. announced on September 11, 2026, its decision to withdraw an application previously submitted to the BSE Limited and the National Stock Exchange of India. This application, filed on August 14, 2026, had sought approval under Regulation 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to reclassify certain entities from the ‘Promoter Group’ category to the ‘Public’ category.
Reasons for Withdrawal
The withdrawal is attributed to two main factors. Firstly, the entities ‘Industrial Glass Fiber Industries and Interics’ have ceased to exist, having been wound up with effect from March 31, 2024. Consequently, they automatically cease to be part of the promoter group. Secondly, the company has received a request from the promoters to withdraw the reclassification application specifically concerning ‘IDC Electronics Limited’.
Next Steps
Star Health and Allied Insurance Co. Ltd. will initiate the necessary steps to process the withdrawal of the reclassification application with the stock exchanges. This action is subject to the approval of the company’s Board of Directors.
Source: BSE
