IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

To be announced

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investors  |   Eligible Employees and Eligible Shareholders  |  

About Niva Bupa Health Insurance Limited

Niva Bupa Health Insurance Limited is committed to empowering every Indian to access the best healthcare. This mission is achieved through its health insurance products and services that facilitate customers' healthcare journeys, offering a comprehensive health ecosystem.

According to the Redseer Report, Niva Bupa is one of India’s largest and fastest-growing standalone health insurance (SAHI) companies, with an overall health GDPI of ₹54,944.28 million in Fiscal 2024. The company has demonstrated impressive growth, with a CAGR of 41.27% in overall GWP and 33.41% in retail health GWP from Fiscal 2022 to Fiscal 2024.

Niva Bupa's growth in overall health GDPI from Fiscal 2022 to Fiscal 2024, at 41.37%, is nearly double the industry's average growth of 21.42%. The company's market share in the Indian SAHI market stood at 16.24% in Fiscal 2024.

Over its 16 years of operation, Niva Bupa has built a reputation for product innovation, catering to diverse customer needs. Its 'Niva Bupa Health' mobile application and website provide a range of healthcare solutions, including diagnostics, digital consultations, annual health check-ups, and health education content.

The company is majority-controlled by the Bupa Group, a global healthcare organisation, further enhancing its credibility and expertise in health insurance. As of March 31, 2024, Niva Bupa insured 14.73 million active lives, with retail health products comprising 68.47% of its overall GWP.

Industry Outlook:

  1. Retail health insurance, comprising ~39% of overall health insurance in FY24, is projected to grow at 18-21% CAGR, reaching INR 0.8-0.9 trillion by FY28.
  2. Higher average premiums, better renewal rates, and lower Combined Ratios make retail health insurance the most promising segment in India's health insurance industry as of 2024.

Niva Bupa Health Insurance Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Augmentation of its capital base to strengthen solvency levels; and
  2. General corporate purposes

Peer Details

The companies considered by Niva Bupa Health Insurance as its peers include:

  1. Star Health and Allied Insurance Company Ltd
  2. ICICI Lombard General Insurance Company Ltd
  3. The New India Assurance Company Ltd

How to Check the Allotment Status of the Niva Bupa Health Insurance Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Niva Bupa Health Insurance Limited IPO

  • Registered office: C-98, 1st Floor, Lajpat Nagar, Part 1, South Delhi, New Delhi – 110 024, Delhi, India
  • Phone: +91 124 635 4900
  • E-mail:Investor@nivabupa.com

IPO Financials

Particulars March 31, 2023 March 31, 2022 March 31, 2021
Assets Under Management (in ₹ million) 54,582.31 33,660.95 24,013.15
Disbursement (in ₹ million) 38,397.34 29,697.40 21,573.40
Retail Health GWP (in ₹ million) 76,173.1 56,647.3 37,667.1
Total Income (in ₹ million) 41,186.31 28,592.35 18,845.42
Profit After Tax (PAT) (in ₹ million) 818.52 125.40 (1,965.25)
Cash & Cash Equivalents (in ₹ million) 1,428.17 1,018.60 588.13
Net Worth (in ₹ million) 20,495.90 8,311.23 5,076.45
Solvency Ratio(x) 2.55 1.67 1.72
Claim Settlement Ratio (CSR) (%) 91.93% 90.53% 90.78%
Retention Ratio (%) 78.84% 78.15% 76.78%
Return on Net Worth (RONW) (%) 5.68% 1.87% (36.25%)
Earning Per Share (EPS)-in absolute ₹ 0.50 0.08 (1.42)

Know before investing

Strengths

8

  1. The third largest SAHI in India is based on overall health GDPI.

  2. Achieved 41.37% CAGR in overall health GDPI from FY22-FY24.

  3. Market share of 16.24% in the Indian SAHI market in FY24.

  4. High LTV products contributed 70.72% of new retail health policies.

  5. Improved Claims Ratio to 59.02% in FY24 from 62.12% in FY22.

  6. Digitally processed 99.95% of new policies in FY24.

  7. Processed 81.50% of cashless claims under 30 minutes in FY24.

  8. Grew Assets Under Management to ₹54,582.31 million by FY24.

Risks

8

  1. Profitability depends on accurate medical expenses and claims estimation.

  2. Health insurance concentration poses a risk to business performance.

  3. Inaccurate product alignment can reduce customer base and profitability.

  4. Regulatory inspections by IRDAI may cause reputational harm.

  5. Reliance on intermediated distribution channels affects business stability.

  6. Network Hospitals' relationships are crucial for cashless claims services.

  7. Must meet Solvency Ratio and investment allocation requirements.

  8. Cyberattacks on IT systems could harm operations significantly.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
Play Button

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Play Button

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Niva Bupa Health Insurance IPO FAQs

What is Niva Bupa Health Insurance IPO?

Niva Bupa IPO is a book-built IPO. The exact dates and price range are yet to be announced. 

When will Niva Bupa Health Insurance Limited's IPO be allotted?

The exact dates and price range are yet to be announced. 

When will Niva Bupa Health Insurance IPO open for subscription?

The IPO subscription window is not announced yet.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.

When will Niva Bupa Health Insurance Limited list on exchanges?

The exact date is not announced yet.

How do I check the allotment status of the Niva Bupa Health Insurance Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Niva Bupa Health Insurance Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.

I have finished the application process for the Niva Bupa Health Insurance Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Niva Bupa Health Insurance Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Niva Bupa Health Insurance Limited using one PAN?

You can submit only one application using your PAN card.