Niva Bupa Health Insurance Company IPO Details
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Niva Bupa Health Insurance Company IPO opens for subscription on 07 Nov 2024 and closes on 11 Nov 2024. The IPO will be listed on NSE, BSE with the tentative listing date set for 14 Nov 2024.
Niva Bupa Health Insurance Company IPO price band has been fixed at ₹70 – ₹74 per share.The face value is ₹10 per share with a lot size of 200.
Niva Bupa Health Insurance Company IPO total issue size comprises 29,72,97,297 shares (aggregating up to ₹2,200.00 Cr). This includes a fresh issue of 10,81,08,108 shares (aggregating up to ₹800.00 Cr). Offer for Sale consists of 18,91,89,189 shares (aggregating up to ₹1,400.00 Cr). Pre-issue shareholding stands at 1,70,01,22,985, which will increase to 1,80,82,31,093 post-issue.
Niva Bupa Health Insurance Company IPO carries a ₹1 (1.35%) GMP, reflecting investor sentiment.
Niva Bupa Health Insurance Company IPO Lot Size : Retail Minimum is 1 lot (200 shares) amounting to ₹14,800. Retail Maximum is 13 lots (2,600 shares) amounting to ₹192,400. SHNI Minimum is 14 lots (2,800 shares) amounting to ₹207,200. SHNI Maximum is 67 lots (13,400 shares) amounting to ₹991,600. BHNI Minimum is 68 lots (13,600 shares) amounting to ₹1,006,400.
The Lead Managers for Niva Bupa Health Insurance Company IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Morgan Stanley India Company Pvt Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd, Motilal Oswal Investment Advisors Ltd, Axis Capital Ltd, HDFC Bank Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For detailed information, Refer to the Niva Bupa Health Insurance Company Limited RHP.
Niva Bupa Health Insurance Company IPO Details
Niva Bupa Health Insurance Company IPO Subscription
Niva Bupa Health Insurance Company IPO Application Wise Breakup (Approx)
Niva Bupa Health Insurance Company IPO Dates
- 07 Nov 2024Opening dateOpen
- 11 Nov 2024Closing dateClose
- 12 Nov 2024Allotment Date Allotment
- 13 Nov 2024Initiation of RefundsRefund
- 13 Nov 2024Credit of SharesCredit
- 14 Nov 2024Listing dateListing
Niva Bupa Health Insurance Company IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 200 | ₹14,800 |
| Retail Maximum | 13 | 2600 | ₹192,400 |
| SHNI Minimum | 14 | 2800 | ₹207,200 |
| SHNI Maximum | 67 | 13400 | ₹991,600 |
| BHNI Minimum | 68 | 13600 | ₹1,006,400 |
Niva Bupa Health Insurance Company IPO Reservation
Promoter Holding
Niva Bupa Health Insurance Company IPO Valuations
Niva Bupa Health Insurance Company Financial Information
Niva Bupa Health Insurance Company Limited's revenue increased by 44% and profit after tax (PAT) rose by 553% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 3,232.62 | 2,091.89 | 1,782.01 | |||||||||||||||||||||||||||
| Revenue | 4,118.63 | 2,859.24 | 1,884.54 | |||||||||||||||||||||||||||
| Profit After Tax | 81.85 | 12.54 | -196.53 | |||||||||||||||||||||||||||
| Net Worth | 2,049.59 | 831.12 | 507.65 | |||||||||||||||||||||||||||
| Reserves and Surplus | 1,282.02 | 334.26 | 125.4 | |||||||||||||||||||||||||||
| Total Borrowing | 250 | 250 | 250 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
About Niva Bupa Health Insurance Company IPO
Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a joint venture between the Bupa Group and Fettle Tone LLP that provides insurance in the health sector.
The company offers a holistic proposition by providing customers access to a comprehensive health ecosystem and service capabilities through its Niva Bupa Health mobile application and website.
- Retail products designed for individuals and families.
- Group products intended for employers and employees,
As of March 31 2024, the company had 14.73 million active lives insured.
As of March 31, 2024, the company is present across 22 states and four union territories in India.
From Fiscal Year 2022 to Fiscal Year 2024, the overall GWP grew at a CAGR of 41.27%, while GWP from retail health increased by 33.41%.
Competitive Strength:
- Diverse product range to suit customer's needs.
- An automated approach to customer service driven by technology.
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Bupa parentage and brand associated with health insurance and healthcare
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The company's expertise and experience in claims and provider management.
Strength Of Niva Bupa Health Insurance Company IPO
1. Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability.
2. Our diverse product suite for customers, bolstered by our track record for product innovation.
3. Technology-led automated approach to customer servicing.
4. Bupa parentage and brand associated with health insurance and healthcare.
5. Our domain knowledge and experience in claims and provider management.
6. Multi-channel diversified pan-India distribution, with technology-led empowerment of distribution partners.
7. Our technology and analytics platforms.
8. Experienced management team backed by established investors and underpinned by sustainable employment practices.
Risk Of Niva Bupa Health Insurance Company IPO
1. Its profitability depends on its ability to manage the company underwriting risks and appropriately price its products and any failures to accurately estimate medical expenses or the frequency of claims could have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.
2. As a significant portion of its business is generated from the health insurance line of business, any adverse changes to the demand for health insurance products and the retail health insurance sector may affect the sale of its health insurance products and in turn its business and profitability.
3. If the company fails to align its products, including in particular, its retail health insurance products with the needs of the company targeted customer demographics or if its unsuccessful in its product development strategy, the company's business could be materially and adversely affected.
4. The company is subject to extensive supervision and regulatory inspections (onsite and offsite, thematic or otherwise) by IRDAI and any regulatory and statutory actions against it or the company distributors could cause it reputational harm and have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.
5. The success of its business depends on the company ability to attract and retain, as well as obtaining timely approvals from IRDAI with respect to, its senior management and employees in critical roles, and the loss of their services could have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.
6. The company is dependent on its intermediated distribution channels, particularly individual agents, corporate agents and brokers, and if the company is unable to develop and grow its network of distributors or attract, retain and incentivize its distributors, it could have a material adverse effect on the company's business, financial condition, results of operations, cash flows and prospects.
7. The company has incurred losses in Fiscal 2022 and the three months ended June 30, 2024 and June 30, 2023 and may not be able to maintain its profitability in the future, which could adversely affect its operations and financial condition and the trading price of the company Equity Shares.
8. The company failures to accurately and timely pay claims could lead to customer dissatisfaction and result in regulatory actions or penalties, which could materially and adversely affect its business, financial condition, results of operations, cash flows and prospects.
9. The company may be unable to obtain reinsurance on a timely basis at reasonable costs and could be exposed to credit risks in its reinsurance contracts, including with General Insurance Corporation of India ("GIC Re").
10. Its Directors and Promoters may enter into ventures which are in businesses similar to its.
Objectives Niva Bupa Health Insurance Company IPO
- Augmentation of its capital base to strengthen solvency levels and
- General corporate purposes
Company Contact Details
Niva Bupa Health Insurance Company Limited
C-98, 1st Floor
Lajpat Nagar, Part 1
South Delhi, New Delhi-110024
Phone: +91 1246354900
Email: investor@nivabupa.com
Website: https://www.nivabupa.com/
Registrar Contact Details
Lead Mangers
Lead Manager Reports
Niva Bupa Health Insurance Company IPO - FAQs
The Niva Bupa Health Insurance Company IPO is a MAINBOARD public issue comprising 297297297 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹2,200.00 Cr. The issue price has been fixed at ₹74 per equity share, and the minimum application size is 200 shares.
The IPO opens for subscription on 07 Nov 2024, and closes on 11 Nov 2024.
Kfin Technologies Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
As of now, the current GMP stands at ₹1 (1.35%).