Business

Niva Bupa Files DRHP For IPO, Aims To Raise $360 Million

Niva Bupa Health Insurance, backed by True North, has made a significant move towards entering the public markets by filing its draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) on Monday.

The company aims to raise approximately Rs 3,000 crore (approximately $360 million) through an initial public offering (IPO).

IPO Key Details:

Fundraising Details: The IPO includes a fresh issue of Rs 800 crore for the public and an offer for sale (OFS) of up to Rs 2,200 crore by existing shareholders.

Shareholders’ Offer For Sale: Existing shareholders Bupa Singapore Holdings Pte and Fettle Tone LLP plan to sell up to Rs 320 crore and Rs 1,880 crore worth of shares, respectively.

Stakeholding: Bupa Singapore Holdings currently holds a 62.27% stake in Niva Bupa, while Fettle Tone LLP holds a 27.86% stake.

Financial Advisors: The IPO will manage by Morgan Stanley India, Kotak Investment Capital, Axis Capital, ICICI Securities, and HDFC Bank.

Strategic Positioning: Niva Bupa aims to become the second stand-alone health insurer to list on Indian stock exchanges, following Star Health Insurance.

In September last year, True North, a prominent private equity firm, sold a 20% stake in Niva Bupa Health Insurance to Bupa for Rs 2,700 crore.

This transaction valued Niva Bupa at Rs 13,500 crore, setting the stage for its upcoming IPO.

Meanwhile, the IPO is likely to enhance Niva Bupa’s financial flexibility and market presence, catering to the growing demand for health insurance in India.

Also Read: Elon Musk Declares X As “Group Chat For Earth” With 600 Million Monthly Active Users

Mankrit Kaur

Recent Posts

Maha Kumbh 2025: Yogi Government’s Strategic Coordination Ensures Timely Preparations

For Maha Kumbh 2025, preparations are in full swing as authorities work to ensure all…

9 hours ago

In Special Gesture, Kuwait’s Prime Minister Sees-Off PM Modi At Airport After Conclusion Of Historic Visit

Prime Minister Narendra Modi wrapped up his two-day visit to Kuwait on Sunday evening. In…

10 hours ago

Maha Kumbh 2025: Shri Panchdashnam Aawahan Akhara Makes Grand Entry Into Maha Kumbh City

Maha Kumbh 2025 with preparations for the Maha Sammelan are in full swing as 13…

10 hours ago

India’s Unifying Initiative: MRM Declares Bhagwat’s Message As The Foundation Of National Unity

The MRM strongly endorsed Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat’s statement on temple-mosque disputes.…

11 hours ago

Maha Kumbh-2025: Prayagraj Mela Authority Deploys Advanced Sanitation Technology

For Maha Kumbh-2025, the Prayagraj Mela Authority has made extensive preparations to provide a clean…

12 hours ago

PM Narendra Modi To Attend Christmas Celebrations At CBCI In New Delhi

Prime Minister Narendra Modi is all set to attend the Christmas celebrations at CBCI Centre…

12 hours ago