Niva Bupa Health Insurance Company will launch its initial public offering (IPO) on November 7, for raising Rs 2,200 crore. The IPO is worth Rs 2,200 crore, comprising Rs 800 crore in new shares and Rs 1,400 crore from existing shareholders selling their stakes. According to media reports, Bupa Singapore Holdings Pte to sell shares worth Rs 350 crore and Fettle Tone LLP (owned by True North) to sell shares worth Rs 1,050 crore respectively in Niva Bupa’s offer-for-sale (OFS).

Niva Bupa Health Insurance has set the IPO price band at Rs 70-74 per share. Notably, around 75% of the issue size has been reserved for qualified institutional buyers. The 15% of this is kept for non-institutional buyers and the remaining 10% for retail investors.

According to reports, Niva Bupa Health Insurance’s IPO is being managed by six book-running lead managers – ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors – with KFin Technologies serving as the registrar.

Niva Bupa Health Insurance Company IPO – All Details

• The company has fixed the Niva Bupa Health Insurance IPO price band at Rs 70 to Rs 74 per share.
• The IPO will open on 7th November 2024 and remain open until 11th November.
• Niva Bupa aims to raise Rs 2,200 crore from this public offer.
• The company is likely to allot shares on 12th November 2024.
• Niva Bupa has kept the lot size of 200 company shares.
• The company’s shares are expected to debut on BSE and NSE on November 14.

Niva Bupa Health Insurance Company was established in 2008. The company is a health insurance joint venture between Bupa Group and Fettle Tone LLP. At the present time, the company provides customers with a health experience through its mobile app and website. By and large, Niva Bupa Health Insurance offers retail solutions for individuals and families, and group solutions for employers and employees, among other services.