The Competition Commission of India approved Safecrop Holdings Pvt. Ltd.'s acquisition of Star Health and Allied Insurance Co. Ltd., Press Trust of India reported.
Safecrop previously signed an agreement in August to purchase the shares of Star Health and Allied Insurance from Star Health Investments Pvt. Ltd. and funds managed or advised by ICICI Venture, Tata Capital and Apis Partners. Safecrop is a consortium comprising WestBridge AIF, Madison Capital and Indian billionaire Rakesh Jhunjhunwala.