Thu Nov 07 05:45:27 UTC 2024: ## Niva Bupa Health Insurance Sets Sights on ₹2,200 Crore IPO

**Mumbai, India:** Niva Bupa Health Insurance Ltd, formerly known as Max Bupa Health Insurance, has launched its initial public offering (IPO) today, seeking to raise ₹2,200 crore. The subscription period will run from November 7th to 11th, with a price band of ₹70-₹74 per share.

The IPO comprises ₹800 crore of new equity shares and an offer-for-sale (OFS) of ₹1,400 crore by promoters Fettle Tone LLP and Bupa Singapore Holdings Pte Ltd. The fresh issue proceeds will be used to bolster the company’s capital base, enhance solvency levels, and fund general corporate purposes.

Niva Bupa, one of India’s largest standalone health insurance companies, has already secured ₹990 crore in the anchor round from investors like Zulia Investments Pte, A91 Emerging Fund II LLP, and several prominent financial institutions.

The IPO has allocated 75% of the issue size for qualified institutional buyers (QIBs), 15% for non-institutional buyers (NIIs), and 10% for retail investors.

Niva Bupa offers a wide range of health insurance products and services, including diagnostics, annual health check-ups, digital consultations, and health education content through its ‘Niva Bupa Health’ app and website. The company boasts a network of over 200 branches across 22 states and four union territories, and has insured nearly 15 million active lives.

ICICI Securities, Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital, Motilal Oswal Investment Advisors, and HDFC Bank are the book-running lead managers for the offer.

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