PE Fund Investments
Health insurer Niva Bupa to raise Rs.800-Cr from MO Alternates, Temasek, Paragon
New Delhi-headquartered health insurer Niva Bupa is to raise INR 800 crore from a clutch of private equity funds. India Business Excellence Fund IV (promoted by MO Alternate Investment Advisors, part of the Motilal Oswal group), Temasek and Paragon Partners Growth Fund II will be investing the money for a minority stake in the company. The announcement comes within a fortnight of private equity major True North announcing a 20% stake sale in the company to Bupa for INR 2,700 crore, making the UK-headquartered company a majority owner in the company. Niva Bupa recently became the third largest health insurer in India in FY23, with a gross written premium of INR 4,000 crore, as against INR 1,000 crore in 2019, and claims to have a presence in nearly every district of India.
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