Niva Bupa Health Insurance IPO Schedule, Price band, GMP, Allotment & Listing Date: The price band for Niva Bupa Health Insurance IPO has been set at Rs 70 to Rs 74 per share, with a lot size fixed at 38 shares, with a minimum application lot size of 200 shares.
Niva Bupa Health Insurance (formerly Max Bupa) has filed a draft red herring prospectus with SEBI to raise Rs 2,200 crore through its initial public offering (IPO). The offer includes both an offer for sale (OFS) and a fresh issue of shares.
Private equity firm True North, which acquired a 51% stake in Max India in 2019 and holds its stake through Fettle Tone, plans to partially exit via the OFS. Here are top 10 things to know about Niva Bupa Health Insurance IPO.
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Here are 10 key things to know about the Rs 2,200 cr public issue:
1) IPO Schedule of Niva Bupa Health Insurance IPO
The Niva Bupa Health Insurance IPO is set to open for subscription on November 7, 2024, and will close on November 11, 2024.
The share allotment is expected to be finalized on November 12, with the IPO listing scheduled for Thursday, November 14, 2024, on both the BSE and NSE.
2) Price Band and Lot Size of Niva Bupa Health Insurance IPO
The price band for Niva Bupa Health Insurance’s IPO has been set at Rs 70 to Rs 74 per share, with a minimum application lot size of 200 shares. Retail investors will need to invest at least Rs 14,800 to participate in the offering.
3) IPO Size of Niva Bupa Health Insurance IPO
The Niva Bupa Health Insurance IPO is a Rs 2,200 crore book-built issue, comprising an offer for sale of 18.92 crore shares valued at Rs 1,400 crore and a fresh issuance of 10.81 crore shares worth Rs 800 crore.
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4) Grey Market Premium (GMP) of Niva Bupa Health Insurance IPO
As of November 6, 2024, the grey market premium (GMP) for Niva Bupa Health Insurance’s IPO is Rs 0, indicating no premium above the upper price band of Rs 74 per share. Consequently, the estimated listing price remains Rs 74, with no expected gain or loss per share on listing day.
5) Allotment and Listing Date of Niva Bupa Health Insurance IPO
The share allocation for Niva Bupa Health Insurance’s IPO is expected to be finalized on Tuesday, November 12, 2024. The company is set to debut on the BSE and NSE on Thursday, November 14, 2024.
6) Offer for Sale (OFS) Structure of Niva Bupa Health Insurance IPO
Niva Bupa Health Insurance’s IPO includes a fresh share issuance worth Rs 800 crore, along with an offer-for-sale (OFS) by promoter entities valued at Rs 1,400 crore, bringing the total offering to Rs 2,200 crore.
7) Reservation for Investor Categories in Niva Bupa Health Insurance IPO
In the Niva Bupa Health Insurance IPO, at least 75% of the shares are reserved for Qualified Institutional Buyers (QIBs), 10% for retail investors, and 15% for Non-Institutional Investors (NIIs/HNIs).
8) Merchant Bankers and Registrars of Niva Bupa Health Insurance IPO
The book-running lead managers for the Niva Bupa Health Insurance IPO are ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors. Kfin Technologies has been appointed as the issue’s registrar.
9) Financial Position of Niva Bupa Health Insurance IPO
Niva Bupa Health Insurance reported a revenue of Rs 328.73 crore in 2024, a decline from Rs 413.07 crore in 2023. Despite this, profit after tax saw a substantial increase, reaching Rs 81.85 crore compared to Rs 12.54 crore the previous year. The company’s assets also grew, totaling Rs 3,232.62 crore in 2024.
10) About Niva Bupa Health Insurance
Niva Bupa Health Insurance Company Limited, a joint venture between Fettle Tone LLP and the Bupa Group, was founded in 2008 and specializes in health insurance. Through its Niva Bupa Health website and mobile app, the company provides customers with a comprehensive health ecosystem and service capabilities.
