About Niva Bupa Health Insurance:
The company is a standalone health insurer (“SAHI”) with a strategic focus on the retail health market. As reported by Redseer, it ranks among India’s largest and fastest-growing SAHIs, with a gross direct premium income (“GDPI”) of ₹54,944.28 million in Fiscal 2024. The company’s health GDPI growth from Fiscals 2022 to 2024 reached 41.37%, one of the highest among SAHIs, and nearly double the industry’s average growth of 21.42% during the same period, as per the Redseer Report. Additionally, it offers personal accident and travel insurance products to its customers.
About the Industry in which Niva Bupa Health Insurance operates:
As outlined in the Redseer Report, health insurance providers in India can be classified into three primary categories. As of August 31, 2024, these include 4 IRDAI-recognized public insurers (excluding specialized insurers), 21 private insurers, and 7 IRDAI-recognized SAHIs. The retail health insurance segment is considered the most promising within India’s health insurance industry as of March 31, 2024, due to factors such as higher average premiums per life, greater renewal rates, and lower combined ratios compared to group health insurance. According to the Redseer Report, SAHIs hold a leading 56% market share in retail health insurance for Fiscal 2024.
| Important Information and Timelines of the IPO of Niva Bupa Health Insurance: | |
|---|---|
| Open Date | 7 November 2024 |
| Close Date | 11 November 2024 |
| Total Issue Size – Number of Shares | 297297297 |
| Minimum Bid Price | 70 |
| Maximum Bid Price | 74 |
| Lot Size | 200 |
| Basis of Allotment | 12 November 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 13 November 2024 |
| Listing Date | 14 November 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Niva Bupa Health Insurance:
| Category | Lots | Shares | Amount (in â‚ą) |
|---|---|---|---|
| Retail – Minimum | 1 | 200 | 14800 |
| Retail – Maximum | 13 | 2600 | 192400 |
| sHNI – Minimum | 14 | 2800 | 207200 |
| sHNI – Maximum | 67 | 13400 | 991600 |
| bHNI – Minimum | 68 | 13600 | 1006400 |
Objective of the IPO of Niva Bupa Health Insurance:
Augmentation of capital base to maintain and strengthen solvency levels
Financials of Niva Bupa Health Insurance:
| Sr. No. | Particulars | As at and for the three months ended June 30, 2024 | As at and for the three months ended June 30, 2023 | As at and for the Financial Year ended March 31, 2024 | As at and for the Financial Year ended March 31, 2023 | As at and for the Financial Year ended March 31, 2022 |
|---|---|---|---|---|---|---|
| 1 | Share capital | 17,001.23 | 15,482.21 | 16,995.35 | 15,106.78 | 14,086.02 |
| 2 | Net worth | 20,317.72 | 9,578.17 | 20,495.90 | 8,311.23 | 5,076.45 |
| 3 | Total Income | 11,248.99 | 8,061.68 | 41,186.31 | 28,592.35 | 18,845.42 |
| 4 | Profit/ (loss) after tax | (188.21) | (721.98) | 818.52 | 125.40 | (1,965.25) |
| 5 | Basic earning/ (loss) per share of â‚ą10/- each | (0.11) | (0.48) | 0.51 | 0.09 | (1.42) |
| 6 | Diluted earning/ (loss) per share of â‚ą10/- each | (0.11) | (0.48) | 0.50 | 0.08 | (1.42) |
| 7 | Net Asset Value per Equity Share | 11.95 | 6.19 | 12.06 | 5.50 | 3.60 |
| 8 | Borrowings | 2,500.00 | 2,500.00 | 2,500.00 | 2,500.00 | 2,500.00 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Niva Bupa Health Insurance. You will receive a UPI mandate after 10:00 AM on 7 November 2024.
###1. How to apply for the IPO of Niva Bupa Health Insurance on Dhan?
You can apply for the IPO of Niva Bupa Health Insurance from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Niva Bupa Health Insurance be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 13 November 2024. However, you will be able to see the shares of Niva Bupa Health Insurance on Dhan before the market starts on the listing date which is 14 November 2024.