There will be increased activity in the primary market soon. On Monday, SEBI approved Niva Bupa Health Insurance Company Limited
and Paras Healthcare Limited to launch their IPOs. These companies submitted their applications to SEBI on June 29, 2024.
Niva Bupa Health Insurance Company IPO Details
Niva Bupa Health Insurance plans to raise ₹3,000 crore through its IPO. The company will issue new shares worth ₹800 crore, with a face value of ₹10 each.
Bupa Singapore Holdings will sell shares worth ₹320 crore, while Fettle Tone LLP will sell shares worth ₹1,880 crore.
The book running lead managers for this IPO include ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Advisors.
Shareholding Structure
Niva Bupa Health Insurance is a joint venture between Bupa Group and Fettle Tone LLP.
According to their Draft Red Herring Prospectus (DRHP), Bupa Singapore Holdings owns a 62.27% stake in Niva Bupa, while Fettle Tone LLP holds 27.86%.
If Niva Bupa gets listed, it will become the fourth company in the insurance sector, following Star Health, ICICI Lombard, and The New India Assurance Company.
Paras Healthcare IPO Overview
Paras Healthcare plans to issue fresh shares worth ₹400 crore through its IPO, along with 1.49 crore shares under the offer for sale.
Promoter Dharmendra Kumar Nagar will sell 29.28 lakh shares, and investor Commelina will sell 1.2 crore shares. Dharmendra Kumar holds a 75.32% stake, while Commelina has 24.68%.