Niva Bupa Health Insurance Company Limited, formerly Max Bupa Health Insurance, is a prominent standalone health insurance provider in India. The company was incorporated in 2008 and commenced operations in 2010. Originally a joint venture between Max India and the UK-based Bupa Group, Niva Bupa transitioned ownership in 2019 when Max India sold its stake to Fettle Tone LLP, an affiliate of the private equity firm True North, which now holds a majority share alongside Bupa Singapore Holdings.
Niva Bupa offers a range of health insurance products focusing on both retail and group segments. The company has demonstrated significant growth in gross written premiums (GWP), achieving ₹4,118.63 crore in revenue for the fiscal year 2024. However, profitability remains a challenge; although there was a profit recovery to ₹81.85 crore in FY24 from a loss of ₹196.5 crore in FY22, H1FY24 still saw losses due to seasonality and reserving requirements. The company is working on optimizing expense ratios, which are higher than regulatory limits, and expects better financial performance as premium growth often peaks in the second half of the fiscal year.
Niva Bupa’s competitive strengths include a diversified distribution network, strong technology infrastructure, a focus on retail health insurance, and a robust risk management framework. The company has over 200 offices across India and uses various channels like brokers, agents, and banks to drive business, with a strong regional presence in states like Maharashtra, Uttar Pradesh, and Delhi.
Niva Bupa Health Insurance Company Limited IPO Timetable
| Particular | Date |
| IPO Open Date | 07 Nov 2024 |
| IPO Close Date | 11 Nov 2024 |
| Allotment Date | 12 Nov 2024 |
| IPO Listing Date | 14 Nov 2024 |
Niva Bupa Health Insurance Company Limited IPO Details
| Issue Type | Book Built Issue IPO |
| Face Value | Rs. 10 Per Equity Share |
| IPO Price | Rs. 70 to Rs. 74 Per Equity Share |
| Market Lot | 200 Share |
| ISIN Code | |
| Listing At | NSE & BSE |
| Issue Size | Approx. Rs. 2200 Crore. |
Niva Bupa Health Insurance Company Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Minimum | 1 | 200 | Rs. 14800 |
| Maximum | 13 | 2600 | Rs. 192400 |
| Small HNI (Minimum) | 14 | 2800 | Rs. 207200 |
| Big HNI (Minimum) | 68 | 13400 | Rs. 1006400 |
Niva Bupa Health Insurance Company Limited IPO Allotment Status
Click Here To Check IPO Allotment Status Niva Bupa Health Insurance Company Limited IPO
Click Here To Get ASBA Forms Niva Bupa Health Insurance Company Limited IPO
Company Financials:
| Particular | 31 March 2024 | 31 March 2023 | 31 March 2022 |
| Total Assets | 6191.87 | 3876.57 | 2738.44 |
| Total Revenue | 4118.63 | 2859.24 | 1884.54 |
| Profit After Tax | 81.85 | 12.54 | -196.53 |
Company Promoters:
The company promoter is Bupa Singapore Holdings Pte. Ltd and Bupa Investments Overseas Limited.
Objects of this Issue:
- Augmentation of its capital base to strengthen solvency levels.
- General corporate purposes.
Registrar & Company Details
| Company Contact Information | IPO Registrar |
| Niva Bupa Health Insurance Company Limited C-98, 1st Floor Lajpat Nagar, Part 1 South Delhi, New Delhi-110024 Phone: +91 1246354900 Email: investor@nivabupa.com Website: https://www.nivabupa.com | Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: nivabupa.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus |
