Subscribe Niva Bupa Health Insurance Company IPO :The IPO of private health insurance company Niva Bupa Health Insurance Company has opened today on 7 November 2024. The company has fixed the price band for the IPO at Rs 70-74 per share. The size of the IPO is Rs 2200 crore. Apart from fresh equity shares, there is also Offer for Sale (OFS). Shares will be allotted on 12th November. Whereas the company’s shares will be listed on BSE and NSE on 14 November 2024. The brokerage house has advised to subscribe for it for a long period.
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Mehta Equities: Subscribe for long term
Brokerage house Mehta Equities has also advised to subscribe for long term in Niva Bupa’s IPO. The brokerage says the IPO of Niva Bupa Health Insurance Company offers investors an opportunity to invest in one of India’s fastest growing standalone health insurers with a strong product portfolio, strategic innovation and digital advancement. The company has shown substantial growth, with assets under management and net premiums growing by 62.2% and 43.1% in FY24, respectively, with profits growing to Rs 81.85 crore in FY24 compared to Rs 12.25 crore in FY23. Has gone. There was 552.7% growth in this.
The brokerage has listed 5 positive factors related to the company.
1. Granular retail health insurer with a focus on delivering strong GWP growth, capital efficiency and profitability
2. Diverse product suite for customers, backed by a track record of product innovation
3. Technology based automated approach to customer service
4. Access to a “360-degree” health and wellness ecosystem platform provides a holistic health proposition to customers.
5. Bupa parentage and brands related to health insurance and health care
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Anand Rathi: Subscribe for long term
Brokerage house Anand Rathi has advised to subscribe for long term in Niva Bupa’s IPO. The brokerage says that after the issue of equity shares, the company is valued at 6.1 times P/BV at the upper price band and the market capitalization is Rs 13520 crore. The brokerage believes the issue is fully priced. According to Anand Rathi, the company offers a diverse range of products to customers, bolstered by a strong track record in product innovation. Their health insurance offerings are designed to meet the needs of customers at every stage of life.
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About IPO
Niva Bupa Health Insurance Company aims to raise Rs 2200 crore through IPO. In this, fresh equity shares worth Rs 800 crore will be issued. Whereas there is also an Offer for Sale (OFS) of Rs 1400 crore. This IPO will be open from 7 November to 11 November 2024. Shares will be allotted on 12th November.
Promoters Bupa Singapore Holdings Pte and Fatal Tone LLP, owned by global private equity firm True North, will sell shares worth Rs 350 crore and Rs 1050 crore in the offer for sale. The Gurugram-based health insurance company will use the Rs 800 crore IPO proceeds to invest to strengthen its capital base and maintain its solvency level.
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how much reserve for whom
35 percent stake in Niva Bupa Health Insurance IPO is reserved for retail investors. Of this, 50 percent is reserved for qualified institutional buyers, while 15 percent is reserved for non-institutional investors.
The book running lead managers of Niva Bupa Health Insurance IPO are ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors. KFin Technologies is the registrar for this offer.
Niva Bupa Health Insurance Financial
The profit of Niva Bupa Health Insurance in the financial year 2024 was Rs 81.85 crore. Whereas in the financial year 2023, the net profit of the company was Rs 12.5 crore. However, during this period the operating profit declined from Rs 350.9 crore to Rs 188 crore.
The company has reported a loss of Rs 18.8 crore for the quarter ending June 2024, which is less than the loss of Rs 72.2 crore in the year-ago period. Its operating profit was Rs 23.2 crore, which was less than the operating loss of Rs 13.4 crore.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
