Bookbuilding IPO | ₹2,200 Cr | Listed at BSE, NSE | Thu, Nov 7, 2024 - Mon, Nov 11, 2024
Niva Bupa Health Insurance IPO is a book build issue of ₹2,200.00 crores. The issue is a combination of fresh issue of 10.81 crore shares aggregating to ₹800.00 crores and offer for sale of 18.92 crore shares aggregating to ₹1,400.00 crores.
Niva Bupa Health Insurance IPO bidding started from Nov 7, 2024 and ended on Nov 11, 2024. The allotment for Niva Bupa Health Insurance IPO was finalized on Nov 12, 2024. The shares got listed on BSE, NSE on Nov 14, 2024.
Niva Bupa Health Insurance IPO price band is set at ₹74 per share. The lot size for an application is 200. The minimum amount of investment required by an retail is ₹14,800 (200 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,800 shares), amounting to ₹2,07,200, and for bNII, it is 68 lots (13,600 shares), amounting to ₹10,06,400.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Niva Bupa Health Insurance IPO RHP for detailed Information.
IPO Open
Thu, Nov 7, 2024
IPO Close
Mon, Nov 11, 2024
Issue Price
₹74 per share
Market Cap (Pre-IPO)
₹13,380.91 Cr
| IPO Date | 7 to 11 Nov, 2024 |
| Listed on | Thu, Nov 14, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹74 |
| Issue Price | ₹74 per share |
| Lot Size | 200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 29,72,97,296 shares (agg. up to ₹2,200 Cr) |
| Fresh Issue | 10,81,08,108 shares (agg. up to ₹800 Cr) |
| Offer for Sale | 18,91,89,188 shares of ₹10 (agg. up to ₹1,400 Cr) |
| Share Holding Pre Issue | 1,70,01,22,985 shares |
| Share Holding Post Issue | 1,80,82,31,093 shares |
| BSE Script Code / NSE Symbol | 544286 / NIVABUPA |
| ISIN | INE995S01015 |
Niva Bupa Health Insurance IPO offers total 29,72,97,296 shares. Out of which 22,29,72,973 (75.00%) allocated to QIB, 8,91,89,190 (30.00%) allocated to QIB (Ex- Anchor), 4,45,94,594 (15.00%) allocated to NII 2,97,29,729 (10.00%) allocated to RII and 13,37,83,783 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 22,29,72,973 (75.00%) | NA |
| − Anchor Investor Shares Offered | 13,37,83,783 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 8,91,89,190 (30.00%) | NA |
| NII (HNI) Shares Offered | 4,45,94,594 (15.00%) | NA |
| − bNII > ₹10L | 2,97,29,729 (10.00%) | 10,617 |
| − sNII < ₹10L | 1,48,64,865 (5.00%) | 5,308 |
| Retail Shares Offered | 2,97,29,729 (10.00%) | 1,48,648 |
| Total Shares Offered | 29,72,97,296 (100.00%) |
Investors can bid for a minimum of 200 shares and in multiples thereof.
| 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 Health Insurance IPO raises ₹990.00 crore from anchor investors. Niva Bupa Health Insurance IPO Anchor bid date is November 6, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 6, 2024 |
| Shares Offered | 13,37,83,783 |
| Anchor Portion (₹ Cr.) | 990.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Dec 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Feb 10, 2025 |
Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a joint venture between the Bupa Group and Fettle Tone LLP that provides insurance in the health sector.
The company offers a holistic proposition by providing customers access to a comprehensive health ecosystem and service capabilities through its Niva Bupa Health mobile application and website.
As of March 31 2024, the company had 14.73 million active lives insured.
As of March 31, 2024, the company is present across 22 states and four union territories in India.
From Fiscal Year 2022 to Fiscal Year 2024, the overall GWP grew at a CAGR of 41.27%, while GWP from retail health increased by 33.41%.
Competitive Strength:
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 6,542.06 | 6,191.87 | 3,876.57 | 2,738.44 |
| Total Income | 1,124.90 | 4,118.63 | 2,859.24 | 1,884.54 |
| Profit After Tax | -18.82 | 81.85 | 12.54 | -196.53 |
| NET Worth | 2,031.77 | 2,049.59 | 831.12 | 507.65 |
| Reserves and Surplus | 1,282.44 | 1,282.02 | 334.26 | 125.40 |
| Total Borrowing | 250.00 | 250.00 | 250.00 | 250.00 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | The company proposes to utilize the Net Proceeds from the Fresh Issue, as per applicable IRDAI regulations, towards augmentation of its capital base to maintain and strengthen its solvency levels by investing in instruments and in the manner prescribed under the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 (“IRDAI AFIF Regulations”) | 765.24 |
| KPI | Jun 30, 2024 |
|---|---|
| Debt/Equity | 0.12 |
| RoNW | -0.92 |
| Price to Book Value | 6.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.48 | -ve |
| P/E (x) | 153.7 | -ve |
| Promoter Holding | 88.98% | 73.37% |
| Market Cap | ₹13,380.91 Cr. |
The Niva Bupa Health Insurance IPO is subscribed 1.9 times on November 11, 2024 6:19:08 PM (Day 3). The public issue subscribed 2.88 times in the retail category, 2.17 times in the QIB category, and 0.71 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.17 | 8,91,89,190 | 19,38,48,200 |
| NII | 0.71 | 4,45,94,595 | 3,18,22,400 |
| bNII (bids above ₹10L) | 0.7 | 2,97,29,730 | 2,08,18,400 |
| sNII (bids below ₹10L) | 0.74 | 1,48,64,865 | 1,10,04,000 |
| Retail | 2.88 | 2,97,29,730 | 8,56,92,400 |
| Total | 1.9 | 16,35,13,515 | 31,13,63,000 |
Total Application : 3,91,443
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs' fees including underwriting commission, brokerage and selling commission, as applicable | 43.25 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.19 |
| 3 | Fees payable to the Registrar to the Offer | 0.73 |
| 4 | Fee payable to Joint Statutory Auditors | 7.14 |
| 5 | Fee Payable to the Independent Chartered Accountant | 0.54 |
| 6 | Others - Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 6.09 |
| 7 | Others - Printing and distribution of issue stationery | 1.26 |
| 8 | Others - Advertising and marketing expenses | 7.63 |
| 9 | Others - Fees payable to legal counsels | 9.41 |
| 10 | Others - Fees payable to Redseer and other advisors to the Offer | 0.66 |
| 11 | Others - Miscellaneous | 16.17 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹74.00 |
| Open | ₹78.50 |
| Low | ₹73.60 |
| High | ₹80.94 |
| Last Trade | ₹74.00 |
Lead Manager Reports
Niva Bupa Health Insurance IPO is a main-board IPO of 29,72,97,296 equity shares of the face value of ₹10 aggregating up to ₹2,200 Crores. The issue is priced at ₹74 per share. The minimum order quantity is 200.
The IPO opens on Thu, Nov 7, 2024, and closes on Mon, Nov 11, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Niva Bupa Health Insurance IPO using UPI as a payment gateway. Zerodha customers can apply in Niva Bupa Health Insurance IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Niva Bupa Health Insurance IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Niva Bupa Health Insurance IPO opens on Thu, Nov 7, 2024 and closes on Mon, Nov 11, 2024.
Niva Bupa Health Insurance IPO lot size is 200, and the minimum amount required for application is ₹14,800.
You can apply in Niva Bupa Health Insurance IPO online using either UPI or ASBA as a 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. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Niva Bupa Health Insurance IPO will be done on Tuesday, November 12, 2024, and the allotted shares will be credited to your demat account by Wed, Nov 13, 2024. Check the Niva Bupa Health Insurance IPO allotment status.
The Niva Bupa Health Insurance IPO listing date is on Thu, Nov 14, 2024.
