Tue Nov 05 07:43:38 UTC 2024: ## Niva Bupa Health Insurance Sets IPO Price Band at Rs 70-74 Per Share

**Mumbai, India -** Niva Bupa Health Insurance Company has announced its initial public offering (IPO) with a price band set at Rs 70-74 per share. The subscription period for the IPO will commence on November 7th, 2023, with the anchor book opening on November 6th. The IPO is expected to close on November 11th, 2023.

The IPO, valued at Rs 2,200 crore, comprises a fresh issue of Rs 800 crore and an offer-for-sale of Rs 1,400 crore worth of shares by promoters. The Gurugram-based health insurer plans to utilize the fresh issue proceeds to strengthen its solvency levels and augment its capital base.

Promoters Bupa Singapore Holdings Pte and Fettle Tone LLP will sell shares worth Rs 350 crore and Rs 1,050 crore, respectively, through the offer-for-sale. Niva Bupa Health Insurance, one of India’s largest standalone health insurers based on overall health gross direct premium income, boasts a market share of 17.29 percent in the Indian SAHI market.

The company has recorded a net profit of Rs 81.85 crore in the fiscal year 2024, a significant increase from the previous year’s Rs 12.5 crore. However, the operating profit witnessed a sharp decline from Rs 350.9 crore to Rs 188 crore in the same period.

ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors are the book running lead managers for the IPO, while KFin Technologies serves as the registrar.

The IPO is expected to witness strong interest from investors given the company’s strong market position and growth trajectory. However, potential investors should also be aware of the company’s recent performance, including its decline in operating profit, and conduct their own research before making any investment decisions.

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