Niva Bupa Health Insurance IPO: Key Details, Dates, and Financial Highlights

Niva Bupa Health Insurance Limited, a joint venture between Bupa Group and Fettle Tone LLP, is preparing to launch its Initial Public Offering (IPO) in the Indian market. Here’s a detailed look at the IPO details and key information for potential investors.

IPO Price Band

The company has set the IPO price band at Rs.70 to Rs.74 per equity share. This range indicates the price investors will pay per share in this public issue.

IPO Subscription Dates

The Niva Bupa Health Insurance IPO opens for subscription on November 7, 2024, and will remain open until November 11, 2024. This gives investors a four-day window to participate in the IPO.

Grey Market Premium (GMP)

Currently, Niva Bupa Health Insurance’s shares are trading at par in the grey market, meaning there is no premium (GMP is zero). This is often seen as a neutral indicator from market observers about initial demand.

IPO Size

The company aims to raise a total of Rs.2,200 crore through this IPO. Out of this, Rs.800 crore will come from issuing fresh shares, while the remaining Rs.1,400 crore will be via the Offer for Sale (OFS) route, allowing current shareholders to sell their stakes. The expected date for IPO share allotment is November 12, 2024.

Anchor Investor Allotment

The IPO will open for anchor investors a day early on November 6, 2024. Anchor investors are large institutions who often invest in IPOs before the general public.

Lot Size

Investors can apply in lots, with one lot comprising 200 shares of Niva Bupa Health Insurance. This means that investors will need to bid in multiples of 200 shares.

Listing on Stock Exchanges

The IPO shares are proposed for listing on both the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). If the IPO proceeds as scheduled, the likely date for listing on the stock exchanges is November 14, 2024.

Company Financial Performance

In the fiscal year 2024, Niva Bupa Health Insurance reported strong growth with a 44% increase in revenue year-on-year and a surge of over 550% in Profit After Tax (PAT). This robust financial performance reflects the company’s potential and growth trajectory.

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SUMMARY

Niva Bupa Health Insurance is set to launch its IPO from November 7 to November 11, 2024, with a price band of Rs.70 to Rs.74 per share. The company plans to raise Rs.2,200 crore, with Rs.800 crore from new shares and Rs.1,400 crore through Offer for Sale (OFS). The shares are currently trading at par in the grey market, meaning no premium is observed. Investors can apply in lots of 200 shares, and the shares are expected to list on the BSE and NSE on November 14. Niva Bupa showed strong financial growth in FY24, with a 44% increase in revenue and a significant rise in profit.