Niva Bupa Health Insurance Limited IPO

Mainboard

General Insurance

Listed On: Nov 14, 2024 at ₹ 78.14(NSE)

₹ 14800 /200 Shares

Check Allotment

07 Nov, 2024

Open Date

11 Nov, 2024

Close Date

12 Nov, 2024

Allotment Date

14 Nov, 2024

Listing Date

Price Summary

Last Closing

75.00 (1.35%)

52 Week High

109.34

52 Week Low

68.54

Last Update

3-Dec-2025 3:30 PM

Niva Bupa Health Insurance IPO Issue Details

Issue Price ₹70-74 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 29,72,97,297 shares(aggregating up to ₹2200 crore)
Fresh Share 10,81,08,108 shares(aggregating up to ₹800 crore)
Offer For Sale 18,91,89,189 shares(aggregating up to ₹1400 crore)
Listing at BSE, NSE
List Price 78.14(NSE)
Listing Date 2024-11-14
Lead Manager ICICI Securities Limited
Morgan Stanley India Company Pvt Ltd
Kotak Mahindra Capital Company Limited
Axis Capital Limited
Hdfc Bank Limited
Motilal Oswal Investment Advisors Limited
Registrar Kfin Technologies Limited

Market Lot Size

Investors can bid for a minimum of 200 shares and in multiples thereof. The following 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	₹1,92,400

Niva Bupa Health Insurance IPO Reservation

Niva Bupa Health Insurance IPO offers total 297,297,298 shares. Out of which 89,189,190 (30%) allocated to QIB, 44,594,595 (15%) allocated to NII,29,729,730 (10%) allocated to RII, NA (NA%) allocated to employees and 133,783,783 (45%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	133,783,783 (45%)
QIB Shares Offered	89,189,190 (30%)
NII (HNI) Shares Offered	44,594,595 (15%)
bNII < ₹10L	29,729,730 (10%)
sNII < ₹10L	14,864,865 (5%)
Retail Shares Offered	29,729,730 (10%)
Total Shares Offered	297,297,298 (100%)

Niva Bupa Health Insurance IPO Documents

DRHP

RHP

ANCHOR

Niva Bupa Health Insurance IPO Details

Niva Bupa Health Insurance IPO is a book-built issue of ₹2200 crores, The total issue size is ₹2200 crores. The IPO of Niva Bupa Health Insurance is priced at ₹70-74 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Nov 7, 2024 and ends on Nov 11, 2024. The allotment for Niva Bupa Health Insurance IPO will be finalized on Nov 12, 2024. Niva Bupa Health Insurance IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 14, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 200 shares, extendable to 14,800. The book-running lead manager for the IPO is/are ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Hdfc Bank Limited, Motilal Oswal Investment Advisors Limited.

The total issue ₹2200 crore, comprising a fresh issue of 10,81,08,108 shares ₹800 crore and having Offer for Sale (OFS) of 18,91,89,189 shares to mop up ₹1400 crore.

The Niva Bupa Health Insurance IPO sets its price band at 70-74 for each share. A single application for Niva Bupa Health Insurance Limited IPO must contain at least 200 shares. Sentiment investors need to invest a minimum of 200 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,800

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	89,189,190	44,594,595 29,729,730 14,864,865	29,729,730	163,513,515
Day 1 07-11-24 05:00 PM	0.79 x	0.33 0.45 x 0.09 x	0.71 x	0.65 x
Day 2 08-11-24 05:00 PM	1.50 x	0.40 0.49 x 0.22 x	1.34 x	1.17 x
Day 3 11-11-24 05:00 PM	2.06 x	0.68 0.66 x 0.70 x	2.73 x	1.80 x

Total No of Applications

3,91,443

Subscription on the basis of Applications

Retail:2.61x BHNI:0.08x SHNI:0.64x

Niva Bupa Health Insurance Valuations

EPS Pre IPO 0.48

EPS Post IPO -0.42

P/E Pre IPO 153.7

P/E Post IPO -177.74

Debt/Equity 0.12

RoNW -0.92

Price to Book Value 6.14

Niva Bupa Health Insurance Company Financials

In Crs.

In Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
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 & Surplus	1,282.02	334.26	125.40
Total Borrowing	250.00	250.00	250.00

About Niva Bupa Health Insurance Company

Niva Bupa Health Insurance Company Limited is a joint venture company established in 2008 between the Bupa Group and Fettle Tone LLP. Niva Bupa is a unique entity in India's health insurance market. The company is providing a robust health ecosystem beyond insurance, with comprehensive access to health services across friendly mobile applications and websites.

The Company offers custom retail products for individuals and families as well as group insurance options to employers and employees. As of March 2024, Niva Bupa had insured 14.73 million active lives across 22 states and four union territories in India.With a mind-boggling CAGR of 41.27% in GWP, FY 2022- FY 2024 has made Niva Bupa the new-age preferred name for retail health insurance. There is a very robust and strong telemarketing team of 410 working for the company. State-of-the-art machine learning, real-time CRM, and product recommendation tools guide customer engagement for the same. Niva Bupa also relies on a highly capable 126-member tech team with continuous development of digital assets that create richer experiences in the lives of customers as well as simplify their health management.

Niva Bupa Health Insurance - Promoter(s)

Bupa Singapore Holdings Pte. Ltd

Bupa Investments Overseas Limited

Pre Issue Share Holding : 88.98%

Post Issue Share Holding : 73.37%

Niva Bupa Health Insurance IPO - Issue Objectives

Augmentation of its capital base to strengthen solvency levels

General corporate purposes

Niva Bupa Health Insurance IPO - Anchor Investors

Niva Bupa Health Insurance closes anchor book, raises Rs 990 crore.

Global investors who participated in the anchor book included Morgan Stanley, Fidelity, Government Pension Fund Global, Templeton Emerging Markets Investment Trust, First Sentier Investors International, and The Scottish Oriental Smaller Companies.

Several domestic mutual funds including Nippon Life India, Axis Mutual Fund, Tata Mutual Fund, DSP India, Motilal Oswal AMC, and Union Small Cap Fund also invested in Niva Bupa via anchor book.

Niva Bupa Health Insurance IPO - Peers Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
Niva Bupa Health Insurance Company Limited	0.51	0.5	12.06	N/A	5.68	N/A	Consolidated
Star Health and Allied Insurance Company Limited	14.48	14.19	108.35	36.97	14.35	5.03	Consolidated
Icici Lombard General Insurance Company Ltd	39.03	38.78	242.75	45.92	17.17	6.96	Consolidated
The New India Assurance Company Ltd	6.77	6.77	132.55	35.23	5.13	1.72	Consolidated

Notes:

New India Assurance Company Limited is strictly not comparable with the Company (This is for information purposes)
Net Worth is defined as share capital plus reserves and surplus less any debit balance in profit and loss account and miscellaneous expenditure.
P/E ratio for listed peers is calculated as closing share price (June 25, 2024, -BSE) / Diluted EPS for the year ended March 31, 2024,
NAV per equity share (?) = Net worth at the end of the year / Total number of equity shares outstanding as of March 31, 2024.

Strength

The third largest SAHI in India is based on overall health GDPI.

Market share of 16.24% in the Indian SAHI market in FY24.

Digitally processed 99.95% of new policies in FY24.

Grew Assets Under Management to ₹54,582.31 million by FY24.

Weakness

Profitability depends on accurate medical expenses and claims estimation.

Regulatory inspections by IRDAI may cause reputational harm.

Network Hospitals' relationships are crucial for cashless claims services.

Contact Details

Niva Bupa Health Insurance

C-98, 1st Floor, Lajpat Nagar, Part 1, South Delhi, New Delhi-110024

+91 1246354900

investor@nivabupa.com

https://www.nivabupa.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

nivabupa.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/

Niva Bupa Health Insurance IPO - FAQs

Ans. Niva Bupa Health Insurance Limited IPO is a Mainboard IPO. The issue is priced at ₹70-74 per equity share. The minimum order quantity is 200 Shares. The IPO opens on Nov 7, 2024, and closes on Nov 11, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Niva Bupa Health Insurance Limited IPO opens on Nov 7, 2024 and closes on Nov 11, 2024.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Niva Bupa Health Insurance Limited IPO is Total ₹2,200 Cr : #Fresh Issue : 108,108,108 shares(aggregating up to ₹800 Cr) + #OFS : 189,189,189 shares of ₹10(aggregating up to ₹1,400 Cr).

Ans. The Niva Bupa Health Insurance Limited IPO price band is set between ₹70-74 per equity share.

Ans. To apply for Niva Bupa Health Insurance Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Niva Bupa Health Insurance Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Niva Bupa Health Insurance Limited IPO is Nov 12, 2024.

Ans. The Niva Bupa Health Insurance Limited IPO will be listed on Nov 14, 2024.

Ans. Follow the steps to check the Niva Bupa Health Insurance Limited IPO allotment status online.