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.
The company’s products are broadly categorized into:
- Retail products designed for individuals and families.
- Group products intended for employers and employees,
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%.
As of March 31, 2024, the telemarketing sales team has 410 employees. It uses machine learning lead scoring, product recommendations, and a real-time CRM dashboard to engage customers and drive conversions.
As of March 31, 2024, the company’s technology function had 126 employees who focused on developing digital assets, software, and mobile applications.
Niva Bupa Health Insurance IPO – Details
| IPO Opening Date | 07 November 2024 |
| IPO Closing Date | 11 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 29,72,97,297 Shares Worth ₹2,200.00 Crore Fresh Issue: 10,81,08,108 Shares Worth ₹800.00 Crore Offer For Sale: 18,91,89,189 Shares Worth ₹1,400.00 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹70 – ₹74 per share |
| Market Lot | 200 Shares |
| Min Order | 200 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Niva Bupa Health Insurance IPO – Date Schedule
| IPO Open Date | 07 November 2024 |
| IPO Close Date | 11 November 2024 |
| Basis of Allotment | 12 November 2024 |
| Initiation of Refund | 13 November 2024 |
| Credit of Shares to Demat Account | 13 November 2024 |
| IPO Listing Date | 14 November 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 11, 2024 |
Niva Bupa Health Insurance IPO – Lots Size & Price
| 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 |
Competitive Strengths
- Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability;
- The company has a diverse product suite for customers, bolstered by a track record for product innovation;
- Technology-led automated approach to customer servicing;
- Bupa parentage and brand associated with health insurance and healthcare;
- The domain knowledge and experience in claims and provider management;
- Multi-channel diversified pan-India distribution, with technology-led empowerment of distribution partners;
- The company’s technology and analytics platforms; and
- Experienced management team backed by established investors and underpinned by sustainable employment practices.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 1,884.54 | 287.00 | -196.52 | 250.00 |
| 31 March 2023 | 2,859.24 | 400.52 | 12.54 | 250.00 |
| 31 March 2024 | 4,118.63 | 246.87 | 81.85 | 250.00 |
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 0.12 |
| RoNW | -0.92 |
| P/BV | 6.14 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 0.48 | -0.42 |
| P/E (x) | 153.7 | -177.74 |
Object Of The Issue
- Augmentation of its capital base to strengthen solvency levels; and
- General corporate purposes.
Niva Bupa Health Insurance IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Star Health and Allied Insurance Company Ltd | 36.97 |
| 2 | 10 | ICICI Lombard General Insurance Company Ltd | 45.92 |
| 3 | 5 | The New India Assurance Company Ltd | 35.23 |
Niva Bupa Health Insurance IPO Promoter Holding
| Pre Issue Share Holding | 89.07% |
| Post Issue Share Holding | 73.44% |
Niva Bupa Health Insurance IPO Prospectus
Company Contact Information
| 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 IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: nivabupa.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Niva Bupa Health Insurance IPO Lead Manager(s)
| 1. Axis Capital Limited 2. Hdfc Bank Limited 3. ICICI Securities Limited 4. Kotak Mahindra Capital Company Limited 5. Motilal Oswal Investment Advisors Limited 6. Morgan Stanley India Company Pvt Limited |
Niva Bupa Health Insurance IPO FAQs
| What is Niva Bupa Health Insurance IPO? Niva Bupa Health Insurance IPO is a main-board IPO. The issue is priced at ₹70 to ₹74 per equity share. The IPO is to be listed on BSE & NSE. |
| When Niva Bupa Health Insurance IPO will open? The IPO is to open on 07 November 2024 for QIB, NII, and Retail Investors. |
| What is Niva Bupa Health Insurance IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Niva Bupa Health Insurance IPO? You can apply Niva Bupa Health Insurance IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Niva Bupa Health Insurance IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Niva Bupa Health Insurance IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Niva Bupa Health Insurance IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Niva Bupa Health Insurance IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Niva Bupa Health Insurance IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Niva Bupa Health Insurance IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Niva Bupa Health Insurance IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Niva Bupa Health Insurance IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Niva Bupa Health Insurance IPO Size? Niva Bupa Health Insurance IPO size is ₹2,200.00 Crore. |
| What is the Niva Bupa Health Insurance IPO Price Band? Niva Bupa Health Insurance IPO Price Band is ₹70 to ₹74. |
| What is Niva Bupa Health Insurance IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 200 Shares with ₹14,800 amount while the maximum bid is 2,600 Shares with ₹1,92,400. |
| What is the Niva Bupa Health Insurance IPO Allotment Date? Niva Bupa Health Insurance IPO allotment date is 12 November 2024. |
| What is the Niva Bupa Health Insurance IPO Listing Date? Niva Bupa Health Insurance IPO listing date is 14 November 2024. The IPO is to be listed on BSE and NSE. |
