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Niva Bupa Health Insurance Company Ltd

Insurance

Offer Period :

7th to 11th Nov 2024

Niva Bupa Health Insurance Company Ltd IPO Details

IPO Date 7th to 11th Nov 2024 Minimum Investment ₹14800 / 1 Lots
Listing Date 2024-11-14 Maximum Investment ₹192400 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹2200 Crores
Price ₹74 to ₹74 per share Fresh Issue ₹800 Crores
Lot Size 1 Lots (200 Shares) Offer For Sale ₹ 1400
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 7th to 11th Nov 2024
Listing Date 2024-11-14
Face Value ₹10 per share
Price ₹74 to ₹74 per share
Lot Size 1 Lots (200 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹14800 / 1 Lots
Maximum Investment ₹192400 / 13 Lots
Total Issue Size ₹2200 Crores
Fresh Issue ₹800 Crores
Offer For Sale
Retail Discount ₹ 0

Niva Bupa Health Insurance Company Ltd IPO

Incorporated in 2008, Niva Bupa Health Insurance Company Ltd. is a joint venture between the global Bupa Group and Fettle Tone LLP, specializing in health insurance. With a mission to deliver accessible healthcare solutions, Niva Bupa offers an extensive product range through its user-friendly mobile app and website. The company’s services cover both retail and group products, catering to individuals, families, employers, and employees. As of March 31, 2024, Niva Bupa insures 14.73 million active lives across India, establishing a solid footprint in the health insurance sector.

Niva Bupa’s offerings include retail health products designed for individual and family needs, as well as group health insurance plans for corporate clients. With operations spanning 22 states and four union territories, the company is well-positioned to serve a broad customer base. Niva Bupa’s Gross Written Premium (GWP) exhibited impressive growth, achieving a CAGR of 41.27% from FY 2022 to FY 2024, with retail health GWP growing at 33.41%. This rapid growth reflects the company’s success in addressing the expanding health insurance demand in India.

Niva Bupa’s competitive strengths lie in its diverse product range and technology-driven approach to customer service. With Bupa's brand backing, Niva Bupa leverages machine learning, real-time CRM, and product recommendations to enhance customer engagement and conversions. The company’s dedicated technology team, comprising 126 employees as of March 31, 2024, focuses on developing digital assets, including mobile applications and software. This innovative approach to customer service, combined with its expertise in claims and provider management, sets Niva Bupa apart in the competitive health insurance market.

Timeline

Important dates for allocation and IPO listing.

7th Nov

IPO Starts

11th Nov

IPO Ends

12th Nov

Allotment Date

13th Nov

Initiation of Refund

13th Nov

Credit of Shares to Demat Account

14th Nov

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 88.98 73.37
Public Group 11.02 26.63

Niva Bupa Health Insurance Company Ltd IPO Reservation

QIB Shares Offered 89189190(30%)
NII (HNI) Shares Offered 44594590(15%)
Retail Shares Offered 29729730(10%)
Anchor Investor Shares Offered 133783784(45%)
Total Shares Offered 297297312
Total Shares With Anchor Investor 297297312

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Niva Bupa Health Insurance Company Ltd IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id einward.ris@kfintech.com
Our Website www.kfintech.com

Niva Bupa Health Insurance Company Ltd IPO Lead Manager

1. ICICI Securities Ltd

2. Morgan Stanley India Company Pvt Ltd

3. Kotak Mahindra Capital Company Ltd

4. Axis Capital Ltd

5. HDFC Bank Ltd

6. Motilal Oswal Investment Advisors Ltd

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Niva Bupa Health Insurance Company Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 8,91,89,190 14,17,65,000 9.0
Non Institutional Investors (NIIs) 4,45,94,595 1,98,69,000 421.0
Non Institutional Investors (Bid amount of more than Ten Lakh Rupees) 2,97,29,730 1,57,18,400 1,89,477.0
Non Institutional Investors (Bid amount of more than Two Lakh and upto Ten Lakh Rupees) 1,48,64,865 41,50,600 1,89,477.0
Retail Individual Investors (RIIs) 2,97,29,730 4,72,76,400 54,008.0
Total 16,35,13,515 20,89,10,400 1,89,477.0

Strength of Niva Bupa Health Insurance Company Ltd

1. Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability.

2. Our diverse product suite for customers, bolstered by our track record for product innovation.

3. Technology-led automated approach to customer servicing.

4. Bupa parentage and brand associated with health insurance and healthcare.

5. Our domain knowledge and experience in claims and provider management.

6. Multi-channel diversified pan-India distribution, with technology-led empowerment of distribution partners.

7. Our technology and analytics platforms.

8. Experienced management team backed by established investors and underpinned by sustainable employment practices.

Risks Involved

1. Its profitability depends on its ability to manage the company underwriting risks and appropriately price its products and any failures to accurately estimate medical expenses or the frequency of claims could have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.

2. As a significant portion of its business is generated from the health insurance line of business, any adverse changes to the demand for health insurance products and the retail health insurance sector may affect the sale of its health insurance products and in turn its business and profitability.

3. If the company fails to align its products, including in particular, its retail health insurance products with the needs of the company targeted customer demographics or if its unsuccessful in its product development strategy, the company's business could be materially and adversely affected.

4. The company is subject to extensive supervision and regulatory inspections (onsite and offsite, thematic or otherwise) by IRDAI and any regulatory and statutory actions against it or the company distributors could cause it reputational harm and have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.

5. The success of its business depends on the company ability to attract and retain, as well as obtaining timely approvals from IRDAI with respect to, its senior management and employees in critical roles, and the loss of their services could have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.

6. The company is dependent on its intermediated distribution channels, particularly individual agents, corporate agents and brokers, and if the company is unable to develop and grow its network of distributors or attract, retain and incentivize its distributors, it could have a material adverse effect on the company's business, financial condition, results of operations, cash flows and prospects.

7. The company has incurred losses in Fiscal 2022 and the three months ended June 30, 2024 and June 30, 2023 and may not be able to maintain its profitability in the future, which could adversely affect its operations and financial condition and the trading price of the company Equity Shares.

8. The company failures to accurately and timely pay claims could lead to customer dissatisfaction and result in regulatory actions or penalties, which could materially and adversely affect its business, financial condition, results of operations, cash flows and prospects.

9. The company may be unable to obtain reinsurance on a timely basis at reasonable costs and could be exposed to credit risks in its reinsurance contracts, including with General Insurance Corporation of India ("GIC Re").

10. Its Directors and Promoters may enter into ventures which are in businesses similar to its.

Industry Outlook of Niva Bupa IPO

  • Diverse Health Insurance Providers:


    • India’s health insurance sector is categorized into three main types: public insurers, private insurers, and standalone health insurers (SAHIs).
    • As of August 31, 2024, the IRDAI recognizes four public insurers (excluding specialized insurers), 21 private insurers, and seven SAHIs.
       
  • Promising Retail Health Insurance Segment:

    • Retail health insurance is the fastest-growing segment in India, primarily due to higher average premium per life and better renewal rates.
    • Compared to group health insurance, retail insurance features a lower combined ratio, indicating improved profitability and sustainability.
       
  • Market Leadership by SAHIs:

    • SAHIs, or Standalone Health Insurance Providers, dominate the retail health insurance market, holding a 56% share as of Fiscal 2024.
    • This leadership demonstrates SAHIs’ ability to meet the rising demand for personalized health coverage solutions among individuals and families.
       
  • Growing Demand for Health Insurance:

  • Increasing healthcare costs, awareness, and favorable government policies continue to fuel the health insurance market’s growth in India.
  • The evolving health insurance landscape presents substantial opportunities for players like Niva Bupa, especially in the retail segment.

Why should you invest in

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Financials

Particulars For the financial year ending (in ₹ million)
 
Total Assets
Total Liabilities
Total Expenses
Total Revenue 
Profit After Tax
EBITDA
Adjusted EBITDA

Niva Bupa Health Insurance Company Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-11-14 544286 NIVABUPA
INE995S01015
₹74 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹74 ₹74
Open ₹78.5 ₹78.14
Low ₹73.6 ₹73.51
High ₹80.94 ₹81
Low ₹73.6 ₹73.51

Frequently Asked Questions

What is Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

Niva Bupa Health Insurance Company Ltd IPO is a Mainboard IPO of 29,72,97,312 equity shares of a face value of ₹10 aggregating up to ₹2200 Crores. The issue is priced at ₹74 to ₹74 per share. The minimum order quantity is 200 Shares. The IPO opens on November 07, 2024, and closes on November 11, 2024. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Niva Bupa Health Insurance Company Ltd IPO will open?

Answer Field

The Niva Bupa Health Insurance Company Ltd IPO opens on November 07, 2024 and closes on November 11, 2024.

What is the lot size of Niva Bupa Health Insurance Company Ltd?

Answer Field

Niva Bupa Health Insurance Company Ltd lot size is 200 shares, and the minimum amount required is ₹14,800.

How to apply for Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

You can apply in Niva Bupa Health Insurance Company Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Niva Bupa Health Insurance Company Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Niva Bupa Health Insurance Company Ltd IPO will be done on November 12, 2024, and the allotted shares will be credited to your demat account by November 13, 2024.

When is Niva Bupa Health Insurance Company Ltd IPO listing date?

Answer Field

The Niva Bupa Health Insurance Company Ltd listing date is November 14, 2024.

Who is the registrar of Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

The registrar of Niva Bupa Health Insurance Company Ltd IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

ICICI Securities Ltd,Morgan Stanley India Company Pvt Ltd,Kotak Mahindra Capital Company Ltd,Axis Capital Ltd,HDFC Bank Ltd,Motilal Oswal Investment Advisors Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

The fresh issue size is ₹800 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Niva Bupa Health Insurance Company Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 200 shares and ₹14,800 amount.

How can I approve the UPI mandate request for Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

To apply for Niva Bupa Health Insurance Company Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Niva Bupa Health Insurance Company Ltd?

Answer Field

The price of each Niva Bupa Health Insurance Company Ltd share will be ranging in between ₹74 to ₹74 per share.

What is the cut-off time for the UPI mandate for Niva Bupa Health Insurance Company Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, November 11, 2024.

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