Liquidity Events
Health insurance player Niva Bupa’s Rs.2,200-Cr IPO subscribed 1.8x
New Delhi-headquartered Niva Bupa Health Insurance Co 's IPO has been subscribed 1.8 times on its final day of bidding. The retail investor category was subscribed 2.73 times while the qualified institutional investors category was subscribed 2.06 times. The non-institutional investors or HNI (high networth individuals) category was subscribed 0.68 times.The public issue comprised a fresh issue of INR 800 crore and an offer for sale of INR 1,400 crore by promoter Bupa Singapore Holdings and Fettle Tone LLP (an unit of PE firm, True North).Earlier, the company closed its anchor book subscription at INR 990 crore.
Between Feb 2019 and Oct 2024, Niva Bupa Health Insurance had raised about USD 256.61 M from A91 Partners, Motilal Oswal Alternates, Paragon Partners, Temasek, Faering Capital, MGA Ventures and TrueNorth.For FY24, Niva Bupa Health Insurance had reported about INR 325.56 Cr in Operating Income and about INR 81.85 Cr in PAT.
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