Niva Bupa Health Insurance Company has filed draft papers with market regulator SEBI to bring IPO. The company wants to raise Rs 3,000 crore through this IPO. Niva Bupa Health Insurance has given this information in the stock exchange filing. This company was earlier known as Max Bupa Life Insurance. According to the draft papers, the health insurance company will raise Rs 800 crore through fresh shares and Rs 2,200 crore through Offer for Sale (OFS). Through OFS, Bupa Singapore Holdings Pte will sell its 62.27% stake to raise Rs 320 crore. Fetal Tone LLP will sell 27.86% stake for Rs 1,880 crore. The money raised will be used to strengthen the solvency level. The money raised from fresh shares will be used to strengthen the solvency level and for general corporate purposes. The company will offer 75% of the net offer to qualified institutional buyers (QIBs), while 15% of the shares will be available to non-institutional investors (NIIs). 10% of the shares are reserved for retail investors. Niva Bupa’s market share was 16.24% for FY24 The company has a network of 10,460 hospitals by March 2024 The company had a network of 8,562 hospitals in March 2022, which increased to 10,460 hospitals in March 2024. It has the largest network providing cashless treatment. The company’s shares will be listed on BSE and NSE ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors are the book-running lead managers for Niva Bupa’s IPO. At the same time, KFin Technologies is the registrar of the offer. The equity shares of the company will be listed on BSE and NSE.
