Niva Bupa Health Insurance Company IPO
IPO Listing Details
- Listing Date
14 Nov 2024
- Listing Price
₹78.50
- Listing Change
6.08%
- Last Traded Price
₹74.00
IPO Details
- Open Date
07 Nov 2024
- Close Date
11 Nov 2024
- IPO
Price Range
₹ 70 to ₹ 74
- IPO
Size
₹ 2200 Cr
- Listing Exchange
BSE, NSE
- Listing Date
14 Nov 2024
IPO Timeline
Niva Bupa Health Insurance Company IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 7-Nov-24 | 0.83 | 0.35 | 0.76 | 0.69 |
| 8-Nov-24 | 1.59 | 0.42 | 1.42 | 1.24 |
| 11-Nov-24 | 2.17 | 0.71 | 2.88 | 1.90 |
Last Updated: 11 November 2024 6:47 PM by 5Paisa
Niva Bupa Health Insurance Company IPO is set to open on 07 November 2024 and will close on 11 November 2024. Niva Bupa Health Insurance Company is a prominent health insurance provider in India
The IPO is a combination of a fresh issue of 10.81 Cr shares aggregating to ₹800 Cr and an offer for sale of 18.92 Cr shares aggregating to ₹1,400 Cr. The price range is set between ₹70 to ₹74 per share and the lot size is 200 shares.
The allotment is scheduled to be finalised on 12 November 2024. It will go public on BSE, NSE, with a tentative listing date of 14 November 2024.
ICICI Securities Ltd, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, Hdfc Bank Ltd and Motilal Oswal Investment Advisors Ltd are the book running lead managers while Kfin Technologies Ltd is the registrar.
Niva Bupa IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹2,200 Cr |
| Offer For Sale | ₹1,400 Cr |
| Fresh Issue | ₹800 Cr |
Niva Bupa IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 200 | 14,800 |
| Retail (Max) | 13 | 2,600 | 1,92,400 |
| S-HNI (Min) | 14 | 2,800 | 2,07,200 |
| S-HNI (Max) | 67 | 13,400 | 9,91,600 |
| B-HNI (Min) | 68 | 13,600 | 10,06,400 |
Niva Bupa IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 2.17 | 8,91,89,190 | 19,38,48,200 | 1,434.477 |
| NII (HNI) | 0.71 | 4,45,94,595 | 3,18,22,400 | 235.486 |
| Retail | 2.88 | 2,97,29,730 | 8,56,92,400 | 634.124 |
| Total** | 1.90 | 16,35,13,515 | 31,13,63,000 | 2,304.086 |
Note:
* The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
** Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Niva Bupa IPO Anchor Allocation
| Anchor Bid Date | 6 November, 2024 |
| Shares Offered | 133,783,783 |
| Anchor portion Size (In ₹ Cr.) | 990.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | 12 December, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 10 February, 2025 |
1. Augmentation of its capital base to strengthen solvency levels.
2. General corporate purposes.
Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a prominent health insurance provider in India, formed as a joint venture between the Bupa Group and Fettle Tone LLP. The company offers a comprehensive suite of health insurance solutions, catering to individual, family, and corporate needs. With its Niva Bupa Health mobile application and website, the company brings an integrated health ecosystem to its customers, facilitating seamless access to its extensive service capabilities.
Niva Bupa’s product lineup is broadly divided into Retail and Group categories. Retail products are tailored for individuals and families, while Group products are designed specifically for employers and their employees, providing flexible options for corporate healthcare coverage. As of March 31, 2024, Niva Bupa insures approximately 14.73 million active lives, underscoring its reach and impact in the health insurance sector.
The company's growth has been notable, with Gross Written Premiums (GWP) growing at a CAGR of 41.27% from FY 2022 to FY 2024, driven primarily by the retail health segment, which saw a CAGR of 33.41%. Niva Bupa's geographical footprint covers 22 states and four union territories across India as of March 2024, demonstrating its extensive market presence.
The company employs a telemarketing team of 410 employees equipped with machine learning tools for lead scoring, personalised product recommendations, and a real-time CRM dashboard, enhancing customer engagement and conversion rates. Additionally, the technology division, staffed with 126 dedicated professionals, focuses on developing digital assets, software, and applications to streamline and enhance customer experiences.
Niva Bupa’s competitive strengths are underpinned by its diverse product range, automated, tech-driven customer service approach, the brand reputation of its Bupa parentage, and a solid foundation in claims and provider management. These attributes position Niva Bupa as a trusted name in India’s health insurance landscape, combining technology and healthcare expertise to meet the dynamic needs of its customers.
Peers
Star Health and Allied Insurance Company Ltd
ICICI Lombard General Insurance Company Ltd
The New India Assurance Company Ltd
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 4,118.63 | 2,859.24 | 1,884.54 |
| EBITDA | 138.00 | 71.28 | -163.24 |
| PAT | 81.85 | 12.54 | -196.53 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 6,191.87 | 3,876.57 | 2,738.44 |
| Share Capital | 1,699.54 | 1,510.68 | 1,408.60 |
| Total Borrowings | 250.00 | 250.00 | 250.00 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 812.53 | 592.51 | 337.82 |
| Net Cash Generated From / (used in) investing activities | -1,881.59 | -829.39 | -723.17 |
| Net Cash Generated From / (used in) financing activities | 1,110.02 | 279.93 | 373.77 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 40.96 | 43.05 | -11.58 |
Strengths
1. Diverse health insurance products tailored to individuals, families, and corporations to meet varied customer needs.
2. Advanced, tech-driven customer service using AI and real-time CRM for efficient customer engagement.
3. Strong brand association with Bupa, renowned globally for healthcare and health insurance expertise.
4. Proven capabilities in claims processing and provider management ensure reliable service for policyholders.
5. Consistent growth in Gross Written Premiums (GWP) underscores effective market expansion and product appeal.
Risks
1. Rapid GWP growth might strain operational and service capacities if scaling is not adequately managed.
2. Heavy reliance on technology exposes the company to cybersecurity and data privacy risks.
3. Dependence on telemarketing might limit customer engagement across newer, digital-first channels.
4. High competition in the health insurance sector could impact market share and profitability.
5. Regulatory changes in the insurance sector may require swift adaptations, potentially affecting stability.
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FAQs
Niva Bupa Health Insurance Company IPO opens from 07 November to 11 November 2024.
The size of Niva Bupa Health Insurance Company IPO is ₹2,200 Cr.
The price of Niva Bupa Health Insurance Company IPO is fixed at ₹70 to ₹74 per share.
To apply for Niva Bupa Health Insurance Company IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Niva Bupa Health Insurance Company IPO.
● 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.
What is the minimum lot size and investment required for the Niva Bupa Health Insurance Company IPO?
The minimum lot size of Niva Bupa Health Insurance Company IPO is 200 shares and the investment required is ₹14,000.
The share allotment date of Niva Bupa Health Insurance Company IPO is 12 November 2024
The Niva Bupa Health Insurance Company IPO will be listed on 14 November 2024.
ICICI Securities Ltd, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, Hdfc Bank Ltd and Motilal Oswal Investment Advisors Ltd are the book running lead managers for Niva Bupa Health Insurance Company IPO.
Niva Bupa Health Insurance Company plans to utilise the raised capital from the IPO for:
1. Augmentation of its capital base to strengthen solvency levels.
2. General corporate purposes.
Contact Information
Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited
C-98, 1st Floor
Lajpat Nagar, Part 1
South Delhi, New Delhi-110024
Phone: +91 1246354900
Email: investor@nivabupa.com
Website: https://www.nivabupa.com/
Niva Bupa Health Insurance Company IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: nivabupa.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Niva Bupa Health Insurance Company IPO Lead Manager
ICICI Securities Limited
Morgan Stanley India Company Pvt Ltd
Kotak Mahindra Capital Company Limited
Axis Capital Limited
Hdfc Bank Limited
Motilal Oswal Investment Advisors Limited
