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Niva Bupa Health Insurance is launching its initial public offering (IPO) from November 7 to November 11. This means investors can buy shares in the company for the first time during these dates.

The joint venture between Bupa Group and Fettle Tone LLP has set a price range of Rs 70 to Rs 74 per share, aiming to raise Rs 2,200 crore through this IPO. This amount includes Rs 800 crore from new shares and Rs 1,400 crore from existing shares being sold by the promoters.

Ahead of the IPO, institutional investors can participate in an anchor allotment on November 6, allowing them to secure shares early. Each lot of the IPO contains 200 shares, so investors need a minimum of Rs 14,800 at the highest price to participate.

The shares are divided into categories: 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors. Also, up to 750,000 shares are reserved for employees at a Rs 25 discount.

The funds raised will help Niva Bupa strengthen its financial base and support general operations. Proceeds from the promoter’s share sales will go to Bupa Singapore Holdings and Fettle Tone LLP.

Niva Bupa Health Insurance has shown strong growth, with a 44% increase in revenue and a 550% rise in profit in FY24. As of March 2024, it covered 14.73 million active lives across 22 states and four union territories in India. However, the company reported a loss of Rs 18.82 crore for the quarter ending June 2024, despite a yearly profit of Rs 81.85 crore as of March 2024.

The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 14, 2024. The IPO is managed by ICICI Securities, Morgan Stanley, and Kotak Mahindra Capital.

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