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Niva Bupa Health Insurance Company Ltd IPO

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.

Niva Bupa Health Insurance Company Ltd IPO Details

Total Shares Offered

₹ 29,72,97,296

Offer to Public

18,91,89,188

Retail Max (Shares)

₹ 2,97,29,730

Pre Issue Promoters Holding

₹ 1,53,10,08,578

Exchange

BSE

Issue size

₹ 2200 Cr

IPO Open Date

Nov 7, 2024

Close Date

Nov 11, 2024

Lot Size

200

Min Investment

₹ 14,000

Issue Type

Book Building

Listing Date

Nov 14, 2024

Niva Bupa Health Insurance Company Ltd IPO Dates

Nov 7, 2024

Opening date

Nov 11, 2024

Closing date

Nov 12, 2024

Basis of Allotment

Nov 13, 2024

Initiation of Refunds

Nov 13, 2024

Credit of Shares

Nov 14, 2024

Listing date

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	297297296	311373200

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

0.87x

0.71x

2.88x

1.05x

222972973

44594594

29729730

297297296

193848200

31822400

85702600

311373200

Niva Bupa Health Insurance Company Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	238.13	111.24	44.53
EBITDA	262.74	140.63	76.52
PAT	213.52	81.85	12.54
Total Assets	1,509.83	674.82	454.89
Share Capital	1,827.03	1,699.54	1,510.68
Total Borrowings	1,289.48	532.00	353.03
Operating Activities (Net Cash)	238.13	111.24	44.53
Investing Activities (Net Cash)	8,165.73	5,457.72	3,362.37
Financing Activities (Net Cash)	1,289.48	532.00	353.03
Net Cashflow	220.35	142.82	101.86

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.

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 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.

How To Apply for Niva Bupa Health Insurance Company Ltd IPO Online?

Step 1:

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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.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Niva Bupa Health Insurance Company Ltd IPO?

Niva Bupa Health Insurance Company Ltd's IPO offers shares for up to 800 It begins on Nov 7, 2024 and ends on Nov 11, 2024.

What is the price of the Niva Bupa Health Insurance Company Ltd IPO?

The price of Niva Bupa Health Insurance Company Ltd IPO ranges between ₹70 to ₹74 per share.

What are the open and close dates for the Niva Bupa Health Insurance Company Ltd IPO?

The Niva Bupa Health Insurance Company Ltd IPO opens on Nov 7, 2024 and closes on Nov 11, 2024.

When will the Niva Bupa Health Insurance Company Ltd IPO be allotted?

The allotment for the Niva Bupa Health Insurance Company Ltd IPO will be finalised on Nov 12, 2024. The shares will be listed on BSE and NSE on Nov 14, 2024.

What is the minimum lot size required for Niva Bupa Health Insurance Company Ltd IPO?

The minimum lot size for Niva Bupa Health Insurance Company Ltd IPO is 200 shares, priced between ₹70 to ₹74 per share.

What is the GMP of Niva Bupa Health Insurance Company Ltd IPO?

The GMP (Grey Market Premium) of Niva Bupa Health Insurance Company Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Niva Bupa Health Insurance Company Ltd IPO?

To check the allotment status of Niva Bupa Health Insurance Company Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Niva Bupa Health Insurance Company Ltd IPO getting listed?

The Niva Bupa Health Insurance Company Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 7, 2024, and closes on Nov 11, 2024. The allotment is finalised on Nov 12, 2024.

How do you apply for the Niva Bupa Health Insurance Company Ltd IPO?

To apply for the Niva Bupa Health Insurance Company Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.