Niva Bupa IPO: The initial public offering of Niva Bupa Health Insurance Company Ltd, previously known as Max Bupa Health Insurance Company, commenced public subscription today, Thursday, 7 November, and will end on Monday, 11 November. The issue, priced between ₹70-74 per share, raised ₹990 crore from anchor investors on Wednesday, 6 November.
The IPO, valued at ₹2,200 crore, consists of a fresh equity share issuance worth ₹800 crore and a promoter offer for sale (OFS) amounting to ₹1,400 crore. Under the OFS, Fettle Tone LLP is set to sell shares totaling ₹1,050 crore, while Bupa Singapore Holdings Pte Ltd plans to sell shares valued at ₹350 crore.
The firm plans to use the net funds from the new issuance to enhance its capital foundation to improve solvency, while a part will be allocated for general corporate activities.
The Niva Bupa IPO lot size is 200 equity shares and in multiples of 200 equity shares thereafter. Niva Bupa Health Insurance IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.
Niva Bupa Health Insurance Company strives to achieve this objective by providing health insurance options and services that assist customers in navigating their healthcare journey, granting them access to an extensive health ecosystem.
Here are some of the key risks listed by the company in its Red-Herring Prospectus (RHP):
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