Niva Bupa Health plans IPO to raise Rs 3,000 crore

    Niva Bupa Health Insurance, formerly known as Max Bupa Health Insurance, is gearing up for an IPO of Rs 3,000 crore, as per banking sources.

    The company, a joint venture between UK-based Bupa and the domestic private equity firm True North, has engaged investment bankers, such as Kotak Mahindra Capital, ICICI Securities, and Morgan Stanley, to manage the impending public issue, sources told Chanakya.

    At present, UK-based Bupa holds a 63% stake, while True North owns 28% stake. About 7% is held by other financial investors, with employees holding the remaining 2%. The public issue is set to encompass both fresh issuances and an offer for sale.

    “The health insurer has enlisted the services of three bankers for its ?3,000 crore public issue, primarily aimed at augmenting equity capital to ensure the solvency ratio remains above the regulatory requirements,” said one of the persons mentioned above

    An email sent to Niva Bupa Health Insurance did not elicit any response.

    Niva Bupa is the third-largest standalone health insurance (SAHI) and the ninth-largest overall health insurance player in India. In the retail health segment, it is the third-largest player overall and the second-largest among SAHIs.


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