Niva Bupa Health Insurance Company IPO Details
Issue Date
--
Price Range
₹70 - ₹74
Lot Size
200
IPO Size
₹2200.00 Cr
Niva Bupa Health Insurance Company IPO Listing Details
Listing On
14 Nov'24
Issue Price
₹74
Listed Price
₹ 78.14
Retail Gain/Listing Gain
▲5.59%
Schedule of Niva Bupa Health Insurance Company IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
14/11/2024
Niva Bupa Health Insurance Company Ltd Company Background
Niva Bupa provides health insurance products and services enables customers to navigate their healthcare journey, by providing them access to a holistic health ecosystem. According to the Redseer Report, Niva Bupa Health Isnurance Company Limited is one of India’s largest and fastest growing SAHI (Stand-alone Health Insurance) companies based on overall health GDPI of ₹54,944.28 million in FY 2024.
Niva Bupa Health Insurance Limited IPO Review | IPO Issue details | Key Highlights and more
Kotak Securities
•02m 53s
Retail and HNI Applications
The retail portion of the Niva Bupa Health Insurance Company Limited IPO consists of not less than 2, 97, 29729 equity shares of face value of ₹10. Not less than 10% of the net offer is for retail individual bidders
Niva Bupa Health Insurance Company Limited IPO Key Points
Objectives of the IPO:
The net proceeds are proposed to be deployed by FY2024-25 towards augmentation of the company’s capital base to maintain and strengthen our solvency levels.
If the funds are not utilised as per the proposed plan, it would be used in the subsequent year.
Subscription Details:
Qualified Institutional Bidder: 75%
Non-Institutional Bidder: 15%
Retail: 10%
Anchor Investors:
The anchor investor bid opens and ends on Nov 6, 2024. The company may allocate up to 60% of the QIB portion to anchor investors, out of which one third will be allocated to Mutual Funds.
Potential benefits for Investors:
By investing in Niva Bupa, one gets to be a part of a group that has spread its wings across the globe and whose profitability and revenues have leap frogged in the last year, thus ensuring steady growth in the future.
By investing in Niva Bupa health insurance company, one becomes a part of a company that is employing the latest technology to cater to varied groups of customers and which enjoys the research capabilities and support of the global conglomerate that is the Niva Bupa Group.
Book running lead managers:
ICICI Securities Limited
Morgan Stanley India Company Private Limited
Kotak Mahindra Capital Company Limited
Axis Capital Limited
HDFC Bank Limited
Motilal Oswal Investment Advisors
All Financial Information about Niva Bupa Health Insurance Company Limited
Presentation of key financial metrics and indicators to assess Niva Bupa Health Insurance Company's financial health.
Promoters of Niva Bupa Health Insurance Company Limited
Bupa Singapore Holdings Pte Ltd. (Bupa Singapore)
Bupa Investment Overseas Limited
Fettle tone LLP
Peer Comparison
Following is the comparison with Niva Bupa’s competitors on key metrics:
Niva Bupa Health Insurance Company Limited | 0.51 | 818.52 | 12.06 | 5.68% |
Star Health and Allied Insurance Company Limited | 14.48 | 8,450.10 | 108.35 | 14.35% |
ICICI Lombard General Insurance Company | 39.03 | 19,185.90 | 242.75 | 17.17% |
The New India Assurance Company | 6.77 | 10,911.20 | 132.55 | 5.13% |
Niva Bupa Health Insurance Company Limited IPO Strengths
Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability
According to the Redseer Report, Niva Bupa Health Insurance Company Limited is the third largest and the second fastest growing SAHI in India based on overall health GDPI in Fiscal 2024, with a CAGR of 41.37% from FY22 to FY24. As per the Redseer Report, they had a market share of 17.29%, 16.24%, 15.58% and 13.87% in the Indian SAHI market for year-to-date August 2024 (Fiscal 2025), FY24, FY23, and FY22 based on retail health GDPI.
A customer centric proposition driving customer experience and retention
The company has built a range of health insurance product offerings that seek to cater to all stages of the customer lifecycle. They identify customer groups based on various parameters, including those for example, age, income and health status. For example ‘Reassure’ caters to upper class/affluent customers, and ‘Aspire’which targets Millenials and Gen Z.
Bupa parentage and brand associated with health insurance and healthcare
Bupa Singapore Holdings Pte. Ltd. and Bupa Investments Overseas Limited, the company’s Promoters, are members of the Bupa Group. Through their association with the Bupa Group, they have access to its international healthcare experience. According to the Redseer Report, Bupa maintains a domestic health insurance presence in the UK, Australia, Spain, Chile, Hong Kong SAR, Türkiye, Mexico and Brazil and via its associate business in Saudi Arabia and also offers international private medical insurance to customers across the world through its ‘Bupa Global’ businesses.
Niva Bupa Health Insurance Company Limited IPO Risk Factors
- As a significant portion of our 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 our health insurance products and in turn our business and profitability.
- 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 us or our distributors could cause us reputational harm and have a material adverse effect on our business, financial condition, cash flows, results of operations and prospects.
- The company is dependent on intermediated distribution channels, particularly individual agents, corporate agents and brokers, and if they are unable to develop and grow their network of distributors or attract, retain and incentivize their distributors, it can hurt their business.
Key Strategies of Niva Bupa Health Insurance Company Limited
- Continue to grow their product portfolio to serve the needs of customers, expand their partnerships with Network Hospitals, and further develop their healthcare ecosystem.
- Continue to invest in technology and analytics to facilitate the sales and servicing of our products
- Deepen culture of sustainability and “doing the right thing” to create a sustainable health franchise for future generations
Conclusion
Overall, Niva Bupa Health Isnurance Company is on an upward trajectory considering its profits and revenues despite high competition in the sector speaks a lot about the company. However, how it adjusts to future regulatory changes will determine its future growth. To know if investing in Niva Bupa Health Insurance Company is worth it or not, ensure you do your homework.
How To Apply for Niva Bupa Health Insurance Company Ltd IPO?
Here are the steps to apply for Niva Bupa Health Insurance Company Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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