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    • Niva Bupa Health Insurance IPO Next Week: Date, Price, Key Financials, Peer Comparison. All the details
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    Niva Bupa Health Insurance IPO Next Week: Date, Price, Key Financials, Peer Comparison. All the details

    Online Niel Posted on

    The initial public offering (IPO) of Niva Bupa Healthcare will open for subscription from 6 November 2024 and close on 8 November 2024. The IPO comprises a new issue of shares worth 800 million lei and an offer for sale ( OFS) worth ₹1,400 crore, totaling ₹2,200 crore.

    The price band for the IPO will be revealed soon. Investors can expect listing on BSE and NSE on November 13, 2024, with allotment completed on November 11, 2024 and redemptions processed by November 12, 2024.

    Under the OFS, Bupa Singapore Holdings and Fettle Tone will partially divest their stakes. The net proceeds from the new issue are allocated to increase the capital base of the company, to strengthen the solvency ratios and to cover the general expenses of the company.

    Niva Bupa is India’s third largest standalone health insurer (SAHI) and second fastest growing, driven by a gross direct premium income (GDPI) of ₹ 5,494 crore for FY 2024. This reflects a compound annual growth rate (CAGR) of 41.37% from FY22 to FY24, almost double the industry average growth rate of 21.42%. The company’s gross written premium (GWP) grew at a CAGR of 33.41% during the same period.

    The company uses machine learning and logistic regression models to combat insurance fraud effectively. These technologies have improved fraud detection rates and minimized investigative referrals, reducing the impact on customer service.

    Financially, Niva Bupa reported revenue of INR 328.73 million in 2024, down from INR 413.07 million in 2023. However, profit after tax increased significantly to INR 81.85 million in 2024 compared to INR 12.54 crore in the previous year. The company’s assets also increased to reach ₹ 3,232.62 crore in 2024.

    Peer group comparison
    In the competitive landscape, Niva Bupa faces peers such as Star Health & Allied Insurance, which has an EPS of INR 14.48, a PE ratio of 36.97 and a RoNW of 14.35%. ICICI Lombard General Insurance stands out with an EPS of ₹39.03, a higher PE ratio of 45.92 and a RoNW of 17.17%. New India Assurance has an EPS of INR 6.77, a PE ratio of 35.23 and a RoNW of 5.13%.

    </p> <h2>Niva Bupa Healthcare IPO details</h2> <table border="1" cellpadding="5" cellspacing="0"> <tbody> <tr> <th>Event</th> <th>Date/Detail</th> </tr> <tr> <td>IPO opening date</td> <td>November 6, 2024</td> </tr> <tr> <td>IPO closing date</td> <td>November 8, 2024</td> </tr> <tr> <td>Basis of allocation</td> <td>November 11, 2024</td> </tr> <tr> <td>Refunds Initiated</td> <td>November 12, 2024</td> </tr> <tr> <td>Credit to Demat Accounts</td> <td>November 12, 2024</td> </tr> <tr> <td>IPO listing date</td> <td>November 13, 2024</td> </tr> <tr> <td>Fresh issue amount</td> <td>800 crore INR</td> </tr> <tr> <td>Offer for Sale (OFS)</td> <td>1,400 crore INR</td> </tr> <tr> <td>The overall size of the problem</td> <td>2,200 crore INR</td> </tr> <tr> <td>IPO listing</td> <td>BSE & NSE</td> </tr> </tbody> </table> <h2>Financial performance</h2> <table border="1" cellpadding="5" cellspacing="0"> <tbody> <tr> <th>Year</th> <th>Revenue (₹ Crore)</th> <th>Expenditure (₹ Crore)</th> <th>Profit After Tax (₹ Crore)</th> <th>Assets (₹ Crore)</th> </tr> <tr> <td>2022</td> <td>90.48</td> <td>287.01</td> <td>196.53</td> <td>1,782.01</td> </tr> <tr> <td>2023</td> <td>413.07</td> <td>400.53</td> <td>12.54</td> <td>2,091.89</td> </tr> <tr> <td>2024</td> <td>328.73</td> <td>246.87</td> <td>81.85</td> <td>3,232.62</td> </tr> </tbody> </table> <h2>Key Growth Figures (FY22 – FY24)</h2> <table border="1" cellpadding="5" cellspacing="0"> <tbody> <tr> <th>Metric</th> <th>Value</th> </tr> <tr> <td>Overall GDPI CAGR</td> <td>41.37%</td> </tr> <tr> <td>Retail Health GWP CAGR</td> <td>33.41%</td> </tr> <tr> <td>Average industry growth rate</td> <td>21.42%</td> </tr> </tbody> </table> <h2>Peer group comparison</h2> <table border="1" cellpadding="5" cellspacing="0"> <tbody> <tr> <th>Company</th> <th>EPS</th> <th>EP report</th> <th>RoNW %</th> <th>NAV (₹)</th> <th>Revenue (₹ Crore)</th> </tr> <tr> <td>Star Health & Allied Insurance</td> <td>14.48</td> <td>36.97</td> <td>14.35</td> <td>108.35</td> <td>8,450.10</td> </tr> <tr> <td>ICICI Asigurari Generale Lombard</td> <td>39.03</td> <td>45.92</td> <td>17.17</td> <td>242.75</td> <td>19,185.90</td> </tr> <tr> <td>New India Assurance</td> <td>6.77</td> <td>35.23</td> <td>5.13</td> <td>132.55</td> <td>10,911.20</td> </tr> </tbody> </table> <p>Niva Bupa has an extensive distribution network comprising 143,074 agents and 210 branches across 22 states and four union territories as of March 2024. The company also partners with 64 banks and corporate agents including HDFC Bank and Axis Bank.</p> <p>Lead managers of the IPO include ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors, with KFin Technologies acting as registrar.</p> </div> <p><i>Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. 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