The Niva Bupa Health Insurance IPO is scheduled for launch on November 7, 2024, and will close on November 11, 2024. Here are the main details:
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- Price Band: The price per share is set between ₹70 and ₹74.
- Lot Size: Investors can bid in multiples of 200 shares, translating to a minimum investment of ₹14,000 at the lower price band and ₹14,800 at the upper limit.
- Issue Structure: The IPO will include a fresh issue of ₹800 crore and an offer for sale (OFS) of ₹1,400 crore, with shares being sold by stakeholders such as Bupa Singapore Holdings and Fettle Tone LLP.
Objectives and Use of Funds
The company aims to use the fresh capital to boost its solvency levels and enhance its capital base, aligning with regulatory requirements and supporting future growth. Additionally, funds may go towards general corporate purposes.
Company Background and Growth
Niva Bupa ranks as one of India’s fastest-growing standalone health insurers. The company's Gross Written Premium (GWP) saw impressive growth, with a 41.37% CAGR in recent years. As of June 2024, Niva Bupa has a 16.24% market share in the retail health insurance market, with 14.99 million insured lives.
IPO Reservations
- Qualified Institutional Buyers (QIBs): 75% of the offer
- Non-Institutional Investors (NIIs): 15%
- Retail Investors: 10%
With a strong track record and strategic use of advanced technologies like machine learning for fraud detection, Niva Bupa is positioning itself for sustained growth in India’s health insurance sector.
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