Niva Bupa Health Insurance IPO is a book built issue of Rs 2,200.00 crores. The issue is a combination of fresh issue of 10.81 crore shares aggregating to Rs 800.00 crores and offer for sale of 18.92 crore shares aggregating to Rs 1,400.00 crores.
Niva Bupa Health Insurance IPO bidding opened for subscription on November 7, 2024 and will close on November 11, 2024. The allotment for the Niva Bupa Health Insurance IPO is expected to be finalized on Tuesday, November 12, 2024. Niva Bupa Health Insurance IPO will list on BSE, NSE with tentative listing date fixed as Thursday, November 14, 2024.
Niva Bupa Health Insurance IPO price band is set at ₹70 to ₹74 per share. The minimum lot size for an application is 200 Shares. The minimum amount of investment required by retail investors is ₹14,800. The minimum lot size investment for sNII is 14 lots (2,800 shares), amounting to ₹207,200, and for bNII, it is 68 lots (13,600 shares), amounting to ₹1,006,400.
ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Hdfc Bank Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers of the Niva Bupa Health Insurance IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Niva Bupa Health Insurance IPO RHP for detailed information.
Niva Bupa Health Insurance IPO Details
| IPO Date | November 7, 2024 to November 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹74 per share |
| Lot Size | 200 Shares |
| Total Issue Size | 297,297,297 shares (aggregating up to ₹2,200.00 Cr) |
| Fresh Issue | 108,108,108 shares (aggregating up to ₹800.00 Cr) |
| Offer for Sale | 189,189,189 shares of ₹10 (aggregating up to ₹1,400.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 1,700,122,985 |
| Share holding post issue | 1,808,231,093 |
Niva Bupa Health Insurance IPO Reservation
Niva Bupa Health Insurance IPO offers 29,72,97,298 shares. 8,91,89,190 (30%) to QIB, 4,45,94,595 (15%) to NII, 2,97,29,730 (10%) to RII and 13,37,83,783 (45%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 13,37,83,783 (45%) | NA |
| QIB Shares Offered | 8,91,89,190 (30%) | NA |
| NII (HNI) Shares Offered | 4,45,94,595 (15%) | |
| bNII > ₹10L | 2,97,29,730 (10%) | 10,617 |
| sNII < ₹10L | 1,48,64,865 (5%) | 5,308 |
| Retail Shares Offered | 2,97,29,730 (10%) | 1,48,648 |
| Total Shares Offered | 29,72,97,298 (100%) |
Niva Bupa Health Insurance IPO Anchor Investors Details
Niva Bupa Health Insurance IPO raises Rs 990.00 crore from anchor investors. Niva Bupa Health Insurance IPO Anchor bid date is November 6, 2024. Niva Bupa Health Insurance IPO Anchor Investors list
| Bid Date | November 6, 2024 |
| Shares Offered | 133,783,783 |
| Anchor Portion Size (In Cr.) | 990.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 10, 2025 |
Niva Bupa Health Insurance IPO Timeline (Tentative Schedule)
Niva Bupa Health Insurance IPO opens on November 7, 2024, and closes on November 11, 2024.
| IPO Open Date | Thursday, November 7, 2024 |
| IPO Close Date | Monday, November 11, 2024 |
| Basis of Allotment | Tuesday, November 12, 2024 |
| Initiation of Refunds | Wednesday, November 13, 2024 |
| Credit of Shares to Demat | Wednesday, November 13, 2024 |
| Listing Date | Thursday, November 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 11, 2024 |
Niva Bupa Health Insurance IPO Lot Size
Investors can bid for a minimum of 200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 200 | ₹14,800 |
| Retail (Max) | 13 | 2600 | ₹192,400 |
| S-HNI (Min) | 14 | 2,800 | ₹207,200 |
| S-HNI (Max) | 67 | 13,400 | ₹991,600 |
| B-HNI (Min) | 68 | 13,600 | ₹1,006,400 |
| Lot Size Calculator | |||
Niva Bupa Health Insurance IPO Promoter Holding
The company promoter is Bupa Singapore Holdings Pte. Ltd and Bupa Investments Overseas Limited.
| Share Holding Pre Issue | 62.27% |
| Share Holding Post Issue |
About Niva Bupa Health Insurance Company Limited
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.
The company’s products are broadly categorized into
- 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%.
As of March 31, 2024, the telemarketing sales team has 410 employees. It uses machine learning lead scoring, product recommendations, and a real-time CRM dashboard to engage customers and drive conversions.
Competitive Strength:
- Diverse product range to suit customer’s needs.
- An automated approach to customer service driven by technology.
- Bupa parentage and brand associated with health insurance and healthcare
- The company’s expertise and experience in claims and provider management.
As of March 31, 2024, the company’s technology function had 126 employees who focused on developing digital assets, software, and mobile applications.
Niva Bupa Health Insurance Company Limited Financial Information (Restated)
Niva Bupa Health Insurance Company Limited’s revenue increased by 44.05% and profit after tax (PAT) rose by 552.73% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 6,542.06 | 6,191.87 | 3,876.57 | 2,738.44 |
| Revenue | 1,124.90 | 4,118.63 | 2,859.24 | 1,884.54 |
| Profit After Tax | -18.82 | 81.85 | 12.54 | -196.53 |
| Net Worth | 2,031.77 | 2,049.59 | 831.12 | 507.65 |
| Reserves and Surplus | 1,282.44 | 1,282.02 | 334.26 | 125.40 |
| Total Borrowing | 250.00 | 250.00 | 250.00 | 250.00 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Niva Bupa Health Insurance IPO is Rs 13380.91 Cr.
KPI as of June 30, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 0.12 |
| RoNW | -0.92 |
| P/BV | 6.14 |
Check Niva Bupa Health Insurance IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.48 | -0.42 |
| P/E (x) | 153.7 | -177.74 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Niva Bupa Health Insurance IPO Objectives)
The company proposes to utilise the Net Proceeds towards the following objects:
- Augmentation of its capital base to strengthen solvency levels and
- General corporate purposes
Niva Bupa Health Insurance IPO Review (May apply)
[Dilip Davda] The company is one of the leading health insurance company in India and has emerged as the fastest growing company. It turned the corner from FY23, but based on its earnings so far, the issue prima-facie appears aggressively priced. However, considering the recent placement of shares internally between Rs. 67.15 and Rs. 85 per share, the IPO appears well priced. Well-informed investors may park funds for medium to long term. Read detail review…
Niva Bupa Health Insurance IPO Subscription Status (Bidding Detail)
The Niva Bupa Health Insurance IPO is subscribed 0.83 times on November 8, 2024 12:43:12 PM (Day 2). The public issue subscribed 1.16 times in the retail category, 0.94 times in the QIB category, and 0.38 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.94 | 8,91,89,190 | 8,37,18,400 |
| NII | 0.38 | 4,45,94,595 | 1,70,56,200 |
| bNII (bids above ₹10L) | 0.49 | 2,97,29,730 | 1,45,05,200 |
| sNII (bids below ₹10L) | 0.17 | 1,48,64,865 | 25,51,000 |
| Retail | 1.16 | 2,97,29,730 | 3,43,73,000 |
| Total | 0.83 | 16,35,13,515 | 13,51,47,600 |
Total Application : 1,44,016
Niva Bupa Health Insurance IPO Prospectus
- › Niva Bupa Health Insurance IPO DRHP
- › Niva Bupa Health Insurance IPO RHP
- › Anchor Investors in Niva Bupa Health Insurance IPO
Niva Bupa Health Insurance Company Limited 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/
Niva Bupa Health Insurance IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: nivabupa.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/