Niva Bupa Health Insurance IPO Highlights
Niva Bupa Health Insurance Company Limited was incorporated on September 5, 2008, originally as “Max Bupa Health Insurance Limited.” The company provides health insurance products and services in India. The company specializes in health insurance, offering products like personal accident, critical illness, and travel insurance. Niva Bupa’s purpose is to give every Indian the confidence to access the best healthcare services.
Niva Bupa Health Insurance IPO Detail
| IPO Opening and Closing Date | November 7, 2024 to November 11, 2024 |
| IPO Price Range | ₹ 70 to ₹ 74 Per Share |
| Face Value of Share | ₹ 10 Per Share |
| Net Issue Size Offered | 297297297 Equity Shares amounting up to ₹ 2200 Cr. |
| Fresh Issue | 108108108 Equity Shares up to ₹ 800 Cr. |
| Offer For Sale | 189189189 Equity Shares amounting up to ₹ 1400 Cr. |
| Listing at | BSE & NSE |
| Issue Type | Book Built Issue IPO |
| Retail Allocation | 10% |
| IPO DRHP | Click Here |
| IPO RHP | Click Here |
Tentative Date Schedule
| IPO Opening Date | 7 November, 2024 |
| IPO Closing Date | 11 November, 2024 |
| Allotment Date | 12 November, 2024 |
| Refund Initiation | 13 November, 2024 |
| Credit of Shares in Demat Account | 13 November, 2024 |
| Listing Date | 14 November, 2024 |
The Niva Bupa Health Insurance IPO will open on 7 November, 2024 and it will close on 11 November, 2024. The allotment of this IPO will be finalized on 12 November, 2024. The listing date of Niva Bupa Health Insurance IPO on both BSE as well as NSE is fixed as 14 November, 2024.
Niva Bupa Health Insurance IPO GMP Today
Neva Bupa Health Insurance IPO GMP today is ₹03 as of 10 November, 2024.
Niva Bupa Health Insurance IPO Financials
| Period | Financial Year 2024 | Financial Year 2023 | Financial Year 2022 |
| Total Assets | ₹3232.62 | ₹2091.89 | ₹1782.01 |
| Total Revenue | ₹4118.63 | ₹2859.24 | ₹1884.54 |
| Total Expense | 246.87 | 400.52 | 287.00 |
| EBITDA | — | — | — |
| Profit After Tax | ₹81.85 | ₹12.54 | ₹-196.53 |
| Company’s Net Worth | 2049.59 | 831.12 | 507.65 |
| Total Reserve & Surplus | ₹1282.02 | ₹334.26 | ₹125.4 |
Company Financial Performance Indicators
| Key Performance Indicators | Value |
| ROCE | % |
| ROE | % |
| Price to Book Value | 6.14 |
| Total Borrowings (% of Total Capital) | % |
| Return on Net Worth | -0.92% |
| Debt Equity Ratio | % |
| After Tax Profit Margin (%) | % |
| Net Asset Value | ₹ |
Lot Size for Different Category of Investors:
| Application | Lot | Number of Shares | Amount (in ₹) |
| Retail Investor (Min. Lot) | 1 | 200 | ₹14800 |
| Retail Investor (Max Lot) | 13 | 2600 | ₹192400 |
| Small HNI (Min. Lot) | 14 | 2800 | ₹207200 |
| Small HNI (Max. Lot) | 67 | 13400 | ₹991600 |
| Big HNI (Min. Lot) | 68 | 13600 | ₹1006400 |
Retail investors are eligible to submit bids for a minimum of one lot, containing 200 shares, amounting to ₹14800. On the other hand small HNI can apply for minimum of 14 lots comprising of 2800 shares amounting to ₹207200 The maximum limit for applying in this IPO for small HNI is 67 lot comprising of 13400 shares amounting to ₹1006400.
Investors Reserve Quota
| Shares Reserved for Institutional Investors | 75% of the Total Issue |
| Shares Reserved for Non Institutional Investors | 15% of the Total Issue |
| Shares Reserved for Retail Individual Investors | 10% of the Total Issue |
Cash Flow Generated by the Company
| Net Cash Flow | For the Year Ended March, 2024 | For the Year Ended March, 2023 | For the Year Ended March, 2022 |
| Cash From Operating Activities | ₹8125.25 | ₹5925.11 | ₹3378.18 |
| Cash from Investing Activities | ₹-18815.86 | ₹-8293.94 | ₹-7231.68 |
| Cash From Financing Activities | ₹11100.18 | ₹2799.30 | ₹3737.56 |
| Net Increase/Decrease in Cash & Cash Equivalents | ₹409.57 | ₹430.47 | ₹-115.94 |
Gross Written Premium (GWP) Collected by State/Union Territory
| State/Union Territory | FY 2024 (₹ in millions) | FY 2023 (₹ in millions) | FY 2022 (₹ in millions) | % Growth (2023-2024) |
| States | ||||
| Andhra Pradesh | 1566.79 | 1079.79 | 710.51 | 45.13% |
| Arunachal Pradesh | 31.73 | 18.89 | 13.19 | 67.95% |
| Assam | 570.85 | 436.17 | 233.5 | 30.87% |
| Bihar | 1360.62 | 936.74 | 634.97 | 45.21% |
| Chhattisgarh | 601.85 | 449.58 | 267.72 | 33.85% |
| Goa | 186.38 | 144.03 | 115.27 | 29.39% |
| Gujarat | 2936.46 | 2333.65 | 1633.38 | 25.81% |
| Haryana | 4398.48 | 3192.13 | 2312.06 | 37.78% |
| Himachal Pradesh | 205.43 | 143.98 | 98.76 | 42.71% |
| Jharkhand | 526.76 | 386.05 | 263.18 | 36.46% |
| Karnataka | 4773.49 | 3469.08 | 2347.52 | 37.61% |
| Tamil Nadu | 2549.09 | 1802.7 | 1205.58 | 41.42% |
| Telangana | 3247.06 | 2280.99 | 1511.34 | 42.36% |
| Tripura | 57.73 | 35.83 | 23.2 | 61.14% |
| Uttar Pradesh | 6862.54 | 4206.22 | 2747.15 | 63.19% |
| West Bengal | 1915.4 | 1287.65 | 906.37 | 48.76% |
| Sub-total (States) | 50595.12 | 36508.56 | 24849.78 | 38.57% |
| Union Territories | ||||
| Andaman and Nicobar Islands | 9.91 | 6.19 | 3.33 | 60.10% |
| Chandigarh | 220.39 | 184.24 | 145.89 | 19.62% |
| Dadra and Nagar Haveli | 19.26 | 18.06 | 10.87 | 6.65% |
| Daman & Diu | 12.1 | 10.91 | 6.4 | 10.91% |
| Govt. of NCT of Delhi | 5009.3 | 3848.97 | 2963.02 | 30.15% |
| Jammu & Kashmir | 164.07 | 116.06 | 91.19 | 41.36% |
| Ladakh | 4.73 | 4.03 | 3.53 | 17.37% |
| Lakshadweep | 1.07 | 1.08 | 0.47 | -0.93% |
| Puducherry | 39.79 | 32.22 | 25.23 | 23.46% |
| Sub-total (Union Territories) | 5480.62 | 4221.75 | 3249.93 | 29.82% |
| Total (States + UTs) | 56075.74 | 40730.31 | 28099.71 | 37.66% |
Niva Bupa Health Insurance IPO Objectives
- To strengthen the capital base of the company.
- General corporate purposes
Peer Group Comparative Analysis
| Company | EPS (₹) | P/E | Face Value (₹) |
| Niva Bupa Health Insurance | ₹0.50 | ₹10 | |
| ICICI Lombard General Insurance | ₹38.78 | ₹45.92 | ₹10 |
| The New India Assurance | ₹6.77 | ₹35.23 | ₹5 |
| Star Health and Allied Insurance | ₹14.19 | ₹36.97 | ₹10 |
Average PE Ratio of Industry
| P/E Ratio Metrics | P/E Ratio |
| Highest P/E Ratio | 45.92 |
| Lowest P/E Ratio | 35.23 |
| Average P/E Ratio | 39.37 |
Strengths and Weaknesses of the Proposed Issue
Strengths:
- Technology-driven automated approach.
- Comprehensive and diverse product portfolio
- Multi-channel pan-India distribution network
- Established brand in healthcare
- Strong knowledge and experience.
- Mobile friendly approach to cater to a wide audience.
- Experienced management team.
Weaknesses:
- Increased competition in insurance business
- Dependence on third-party technologies.
- Risk of technology related failures.
- Challenges in maintaining customer information.
Management & Promoter Group
Bupa Singapore Holdings Pte. Ltd
Bupa Investments Overseas Limited (BIOL)
| Promoters Shareholding Pre-Issue | 62.27% |
| Promoters Shareholding Post- Issue |
Company’s Dividend Policy
The company has not paid any dividend from the last three financial years.
Lead Managers of the Issue
- Morgan Stanley India Company Private Limited
- HDFC Bank Limited
- ICICI Securities Limited
- Motilal Oswal Investment Advisors Limited
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
Registrar for the Proposed IPO
KFin Technologies Limited
Selenium Tower B, Plot No- 31 and 32,
Financial District, Nanakramguda, Serilingampally,
Hyderabad, Rangareddi – 500032, Telangana, India
Website: www.kfintech.com/
Email: nivabupa.ipo@kfintech.com
Contact Details of Company
14th Floor, Capital Cyberscape,
Sector-59, Gurugram – 122 102, Haryana, India
Telephone: +91 124 635 4900
Email: Investor@nivabupa.com Website: www.nivabupa.com
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Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Nisus Finance Services IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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