Schedule of Niva Bupa Health Insurance Company
| Issue open date | 07 Nov 2024 |
| Issue close date | 11 Nov 2024 |
| UPI mandate deadline | 11 Nov 2024 (5 PM) |
| Allotment finalization | 12 Nov 2024 |
| Refund initiation | 13 Nov 2024 |
| Share credit | 13 Nov 2024 |
| Listing date | 14 Nov 2024 |
| Mandate end date | 26 Nov 2024 |
| Lock-in end date for anchor investors (50%) | 12 Dec 2024 |
| Lock-in end date for anchor investors (remaining) | 10 Feb 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited is one of India’s largest and fastest-growing health insurers, with a notable overall health GDPI of ₹54,944.28 million in Fiscal 2024. Over the past two years, its growth has significantly outpaced the industry average, with a CAGR of 41.37% in health gross direct premium income (GDPI). Leveraging its ‘Niva Bupa Health’ mobile app and website, the company provides a comprehensive health ecosystem, including diagnostics, digital consultations, and policy management.
It is backed by the Bupa Group, giving it access to international expertise. The company employs a data-driven Lifetime value (LTV)-based approach to customer management and maintains a diversified distribution network, including direct sales and intermediaries. It also emphasizes digital integration and has a high claims settlement ratio, with a substantial network of hospitals. The company has shown impressive growth in its Gross Written Premium (GWP) and maintains a focus on customer satisfaction and retention through extensive service and technology integration.
Financials of Niva Bupa Health Insurance Company
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹2200 crores |
| Fresh Issue | ₹800 crores |
| Offer for sale | ₹1400 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding towards sales and marketing costs | 200 (17.95%) |
| Investment in Blackbuck Finserve Private Limited | 140 (12.56%) |
| Funding of expenditure concerning product development | 75 (6.73%) |
| General corporate purposes | 699.72 (62.76%) |
Strengths
- Focus on GWP growth, capital efficiency, and profitability.
- Diverse product suite with a strong innovation track record.
- Technology-driven automated customer servicing.
- Bupa brand backing and expertise in health insurance.
- Multi-channel distribution with tech-enabled partner empowerment.
Risks
- Inaccurate pricing or underwriting risks could hurt profitability.
- Dependence on health insurance makes the company vulnerable to market shifts.
- Poor relationships with hospitals may affect cashless claims and costs.
- Delayed claim payments could lead to customer dissatisfaction and penalties.
- Brand or reputation damage, including Bupa’s, may impact business performance.
Subscription Figures for Niva Bupa Health Insurance Company
Subscription numbers as of 05:00 pm on 8 Nov 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 9,42,85,715 | 14,17,65,000 | 1.50 |
| Non Institutional Investors | 4,71,42,857 | 1,88,11,600 | 0.40 |
| Retail Individual Investors (RIIs) | 3,14,28,571 | 4,21,05,800 | 1.34 |
| Total | 17,28,57,143 | 20,26,82,400 | 1.17 |
Note: When evaluating IPOs, one should not just look at grey market premiums. The subscription numbers give a clearer picture of investor interest. Read this article to learn how to track the live IPO subscription data.