Niva Bupa Health Insurance Company has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of equity shares worth Rs 800 crore and Offer for Sale (OFS) of shares valued Rs 2,200 crore by a promoter and an investor shareholder. The company's equity shares are proposed to be listed on the BSE and NSE.
The company intends to utilise the net proceeds from the fresh issuance to the extent of Rs 625 crore towards boosting its capital base to strengthen solvency levels, besides a portion will be used for general corporate purposes. ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.
Niva Bupa Health Insurance Company is one of largest and fastest growing standalone retail health insurers (SAHI) in India.
Company Name | CMP |
---|---|
ICICI Prudential | 574.05 |
Go Digit General Ins | 299.95 |
Star Health & Allied | 389.65 |
Life Insurance Corp | 776.45 |
HDFC Life Insurance | 619.75 |
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