Niva Bupa Health Insurance Company Ltd IPO
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Niva Bupa Health Insurance Company Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 2,972.97 L | ₹ 1,891.89 L | ₹ 297.3 L | ₹ 15,310.09 L | BSE | ₹ 2200 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 07 Nov, 24 | 11 Nov, 24 | 200 | ₹ 14,000 | Book Building | 14 Nov, 24 |
Niva Bupa Health Insurance Company Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Finance & Investments |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0.87x | 222972973 | 193848200 |
| NII | 0.71x | 44594594 | 31822400 |
| Retail | 2.88x | 29729730 | 85702600 |
| Employee | 0x | 0 | 0 |
| Total | 1.05x | 297297297 | 311373200 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Niva Bupa Health Insurance Company Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 111.25 | 44.53 | -169.76 |
| EBITDA | 140.64 | 76.52 | -143.00 |
| PAT | 81.85 | 12.54 | -196.53 |
| Total Assets | 674.83 | 454.89 | 287.44 |
| Share Capital | 1,699.54 | 1,510.68 | 1,408.60 |
| Total Borrowings | 532.01 | 353.03 | 228.63 |
| Operating Activities (Net Cash) | 111.24 | 44.53 | -169.77 |
| Investing Activities (Net Cash) | 5,457.72 | 3,362.37 | 2,400.80 |
| Financing Activities (Net Cash) | 532.01 | 353.03 | 228.63 |
| Net Cashflow | 142.82 | 101.86 | 58.81 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Niva Bupa Health Insurance Company Ltd
The Company was originally incorporated as `Max Bupa Health Insurance Limited' at New Delhi, Delhi as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 5, 2008, issued by the Assistant Registrar of Companies, National Capital Territory of Delhi and Haryana and was granted its certificate for commencement of business on December 23, 2008 by the Deputy Registrar of Companies, National Capital Territory of Delhi and Haryana. Thereafter, the name of the Company was changed to `Max Bupa Health Insurance Company Limited' pursuant to a fresh certificate of incorporation dated July 30, 2009 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (now known as Registrar of Companies, Delhi and Haryana (the RoC)). The name of the Company was further changed to `Niva Bupa Health Insurance Company Limited' pursuant to a fresh certificate of incorporation dated July 5, 2021 issued by the RoC.
According to the Redseer Report, in India, health insurance providers can be broadly categorized into three main types and as of August 31, 2024, there are 4 IRDAI-recognized public insurers excluding specialized insurers, 21 private insurers and 7 IRDAI-recognized SAHIs. The retail health insurance segment is the most promising segment in the health insurance industry in India as of March 31, 2024, due to higher average premium per life, higher renewal rates and lower combined ratios as compared to group health insurance, and SAHIs lead the retail health insurance with a market share of 56% in Fiscal 2024, according to the Redseer Report.
We are a standalone health insurer (SAHI) strategically focused on the retail health market. According to the Redseer Report, we are one of India's largest and fastest growing SAHIs based on overall health insurance gross direct premium income (GDPI) of Rs.54,944.28 million in Fiscal 2024. Our growth in overall health GDPI from Fiscals 2022 to 2024 of 41.37% is one of the highest growths among SAHIs, and is almost double of the industry's average, which according to the Redseer Report, increased by 21.42% from Fiscals 2022 to 2024. We also offer personal accident and travel insurance products to our customers.
Peer Comparison:
- Star Health & Allied Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- New India Assurance Company Ltd
Niva Bupa Health Insurance Company Ltd IPO Key Points
Strengths
- Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability.
- Our diverse product suite for customers, bolstered by our track record for product innovation.
- Technology-led automated approach to customer servicing.
- Bupa parentage and brand associated with health insurance and healthcare.
- Our domain knowledge and experience in claims and provider management.
Risk
- Its profitability depends on its ability to manage the company underwriting risks and appropriately price its products and any failures to accurately estimate medical expenses or the frequency of claims could have a material adverse effect on its business, financial condition, results of operations, cash flows and prospects.
- As a significant portion of its 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 its health insurance products and in turn its business and profitability.
- If the company fails to align its products, including in particular, its retail health insurance products with the needs of the company targeted customer demographics or if its unsuccessful in its product development strategy, the company's business could be materially and adversely affected.
Strategy
- Continuing to grow our product portfolio to serve the needs of customers, expand our partnerships with Network Hospitals, and further develop our healthcare ecosystem.
- Continue to invest in technology and analytics to facilitate the sales and servicing of our products.
- Further expand our presence in existing geographies within India, invest in deepening our distribution channels and increase market share in retail health insurance.
- Continue to invest in talent recruitment, development and retention to drive execution.
- Deepen culture of sustainability and doing the right thing to create a sustainable health franchise for future generations.
- Granular retail health insurer with a focus on delivering robust GWP growth, capital efficiency and profitability.
- Our diverse product suite for customers, bolstered by our track record for product innovation.
- Technology-led automated approach to customer servicing.
- Bupa parentage and brand associated with health insurance and healthcare.
- Our domain knowledge and experience in claims and provider management.
How To Apply for Niva Bupa Health Insurance Company Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.