BAJAJ BROKING
Niva Bupa Health Insurance files for a ₹3,000 Cr IPO, with ₹800 Cr as fresh issue and ₹2,200 Cr as OFS. Niva Bupa operates 210 branches across 22 states and four UTs in India. Its PAT rose to ₹81.85 Cr in FY24 from ₹12.54 Cr in FY23.
Niva Bupa Health Insurance Company Ltd, previously Max Bupa Health Insurance, has submitted initial documents to SEBI to launch an IPO aiming to raise ₹3,000 crore.
The IPO will include a fresh issuance of equity shares valued at ₹800 crore and an offer for sale (OFS) up to ₹2,200 crore by a promoter and an investor shareholder, as per the draft prospectus.
The company has also indicated a potential pre-IPO placement of securities worth up to ₹160 crore. If completed, this will reduce the fresh issue size proportionately.
Niva Bupa intends to utilise ₹625 crore from the fresh issuance to enhance its capital base, strengthening solvency levels, with the remaining amount allocated for general corporate purposes.
In FY24, the company achieved a Gross Direct Written Premium (GDPI) of ₹5,499.43 crore. The Gross Written Premium (GWP) increased by 37.68%, from ₹4,073.03 crore in FY23 to ₹5,607.57 crore in FY24. Its PAT surged to ₹81.85 crore in FY24 from ₹12.54 crore in FY23.
As of March 31, 2024, Niva Bupa operates 210 physical branches across 22 states and four union territories in India. The company has a significant agent network with 143,074 agents and distributes products through 64 banks and other corporate agents.
ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors are the book-running lead managers for the offer.
The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
DAC Approves ₹21,772 Crore Defence Boost for Ships, Jets, and Tanks
04 Dec, 2024 | 2 Min. read
SECI Lifts Debarment on Reliance Power, Restores Bidding Rights
04 Dec, 2024 | 2 Min. read
RVNL Wins ₹186.77-Crore Project from East Central Railway
04 Dec, 2024 | 2 Min. read
PB Fintech Launches Wholly Owned Healthcare Services Subsidiary
04 Dec, 2024 | 2 Min. read
Commodities Market Today | Crude Oil and Precious Metals Prices See Significant Gains
04 Dec, 2024 | 1 Min. read
Share Market Today | Gift Nifty Hints At A Flat Opening For Indian Markets
04 Dec, 2024 | 4 Min. read
Gold Rate Today | Gold Rises 0.3% to $2,665.70, Silver Jumps 2.1%
04 Dec, 2024 | 2 Min. read
Risk-Reward Ratio Explained for Better Trading Decisions
04 Dec, 2024 | 5 Min. read
Momentum Indicators - Definition, Types, Benefits & Drawbacks
04 Dec, 2024 | 7 Min. read
Trailing Stop Loss: A Smart Strategy for Profit Protection
04 Dec, 2024 | 6 Min. read
Solar Industries Secures ₹2,039 Crore Export Order for Defence Products
03 Dec, 2024 | 2 Min. read
Protean eGov Technologies Secures ₹161 Crore CERSAI Project for CKYCRR 2.0
03 Dec, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading