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 |Niva Bupa IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
To be announced
Closing Date
To be announced
Allotment Date
To be announced
Initiation of Refunds
To be announced
Credit of Shares
To be announced
Listing Date
To be announced
UPI Mandate Cut-off Date
To be announced
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:
- 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.
- 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 IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Augmentation of its capital base to strengthen solvency levels; and
- General corporate purposes
Peer Details
The companies considered by Niva Bupa Health Insurance as its peers include:
- Star Health and Allied Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- The New India Assurance Company Ltd
How to Apply for Niva Bupa IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select Niva Bupa IPO: Find and select the Niva Bupa IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How to Check the Allotment Status of the Niva Bupa Health Insurance 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 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
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The third largest SAHI in India is based on overall health GDPI.
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Achieved 41.37% CAGR in overall health GDPI from FY22-FY24.
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Market share of 16.24% in the Indian SAHI market in FY24.
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High LTV products contributed 70.72% of new retail health policies.
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Improved Claims Ratio to 59.02% in FY24 from 62.12% in FY22.
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Digitally processed 99.95% of new policies in FY24.
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Processed 81.50% of cashless claims under 30 minutes in FY24.
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Grew Assets Under Management to ₹54,582.31 million by FY24.
Risks
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Profitability depends on accurate medical expenses and claims estimation.
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Health insurance concentration poses a risk to business performance.
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Inaccurate product alignment can reduce customer base and profitability.
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Regulatory inspections by IRDAI may cause reputational harm.
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Reliance on intermediated distribution channels affects business stability.
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Network Hospitals' relationships are crucial for cashless claims services.
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Must meet Solvency Ratio and investment allocation requirements.
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Cyberattacks on IT systems could harm operations significantly.
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Choose IPO section on Home Page
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Niva Bupa IPO FAQs
Niva Bupa IPO is a book-built IPO. The exact dates and price range are yet to be announced.
The exact dates and price range are yet to be announced.
The IPO subscription window is not announced yet.
Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.
The exact date is not announced yet.
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.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
