Niva Bupa Health Insurance Company Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹70 - ₹74
- Lot size
- 200 shares
- Issue amount
- ₹2,200 cr
- Total subscription
- 1.9×
- Opens
- 7 Nov 2024
- Closes
- 11 Nov 2024
- Allotment
- 12 Nov 2024
- Listing
- 14 Feb 2025
Offer at a glance
Issue overview
- Issue size
- 29,72,97,296 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹14,000
- Fresh issue
- ₹800 cr
- Offer for sale
- ₹1,400 cr
- Registrar
- KFin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,70,01,22,985
- Shares after issue
- 1,80,82,31,093
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 200 | ₹14,800 |
| sHNI | 14 | 2,800 | ₹2,07,200 |
| bHNI | 68 | 13,600 | ₹10,06,400 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs (10L+) | 843 | 10,618 |
| HNIs (2-10L) | 3,392 | 5,309 |
| RETAIL | 3,87,563 | 1,48,649 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 660 | 1,434.48 |
| RETAIL | 220 | 634.2 |
| HNIs 2+ | 110 | 81.43 |
| HNIs 10+ | 220 | 154.06 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | -0.11 | 0.51 | 0.09 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | -0.92 | 5.68 | 1.87 |
| PRE IPO(PE) | 153.7 | 153.7 | 0 |
| POST IPO(PE) | -177.74 | 163.48 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a joint venture between the Bupa Group and Fettle Tone LLP, offering health insurance plans for individuals, families, and corporate employees across India. The company has a strong digital presence through its mobile app and website, which allow customers to access various health services easily. As of March 31, 2024, Niva Bupa covered 14.73 million active lives across 22 states and four union territories, and its Gross Written Premium grew at a CAGR of 41.27% between FY22 and FY24. The company uses advanced machine learning tools, real-time CRM dashboards, and personalized product recommendations to improve customer engagement, supported by a telemarketing team of 410 employees and a dedicated tech team of 126 professionals who work on enhancing digital systems and applications.
Strengths
- Retail-Centric Growth Strategy: Focus on increasing GWP, improving capital efficiency, and driving profitability in the retail health insurance segment.
- Diverse and Innovative Products: Wide product portfolio tailored to varied customer needs, backed by consistent innovation capability.
- Tech-Led Customer Experience: Automated, technology-driven service approach ensures faster, smoother, and more efficient customer interactions.
Risk factors
- Underwriting & Pricing Risk: Profitability hinges on precise underwriting and pricing; any misjudgment in medical expenses or claim frequency can adversely affect margins.
- High Dependence on Health Insurance: Over-reliance on the health insurance segment exposes the business to regulatory changes and market uncertainties.
- Product Fit & Profitability Challenges: Inability to continuously align retail health products with evolving customer needs — while maintaining profitability — could restrict growth and impact business performance.
Promoters
Bupa Singapore Holdings Pte. Ltd.
Bupa Investments Overseas Limited.
Registrar & documents
Lead manager
ICICI Securities Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
KFin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
C-98, 1st Floor Lajpat Nagar, Part 1 South Delhi, New Delhi-110024
+91 1246354900
[email protected]Company website ↗Understanding NIVABUPA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.