Tue Nov 05 07:44:23 UTC 2024: ## Niva Bupa Health Insurance IPO Opens This Week, Targets ₹2,200 Crore

**Mumbai, India -** Niva Bupa Health Insurance Co. Ltd., a leading health insurer in India, is set to launch its ₹2,200-crore initial public offering (IPO) this week, beginning Thursday, November 7th. The offer will close on Monday, November 11th, with the listing tentatively scheduled for November 14th.

The IPO consists of a fresh issuance of 10.81 crore shares, worth ₹800 crore, and an offer-for-sale (OFS) of 18.92 crore shares, worth ₹1,400 crore. The price band for the IPO has been fixed at ₹70 to ₹74 per share.

Niva Bupa is majority controlled by Bupa Singapore Holdings Pte. Ltd. and Bupa Investments Overseas Ltd., making it the only health insurance company in India with majority ownership by a foreign global healthcare group. The company distinguishes itself with a comprehensive health ecosystem accessible through its ‘Niva Bupa Health’ mobile app and website. This platform offers customers access to a wide range of healthcare services, including diagnostics, digital consultations, annual health check-ups, and health education content.

Niva Bupa’s financial performance has been robust, with revenue increasing by 44.05% to ₹4,118.63 crore in FY24 compared to ₹2,859.24 crore in FY23. Profit after tax (PAT) surged massively in FY24 to ₹81.85 crore, compared to ₹12.54 crore in FY23.

Niva Bupa faces competition from other standalone health insurers (SAHIs), public sector insurers, and private sector insurers, as well as new entrants focused on digital distribution. The company’s average ticket size per policy sold through its agency channel is the highest among SAHI peers.

The IPO proceeds will be used to augment the company’s capital base, strengthen solvency levels, and for general corporate purposes.

Investors are advised to carefully review the company’s business profile and financial performance before making investment decisions.

**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice.

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