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Niva Bupa and Paras Healthcare get SEBI approval to launch IPO, know details

by Aaryan Srivastav
October 21, 2024
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IPO News: There will be more movement in the primary market in the coming times. SEBI on Monday approved Niva Bupa Health Insurance Company Limited and Paras Healthcare Limited to launch IPO. The company had submitted papers with SEBI to launch an IPO on June 29, 2024.

What will be the size of Niva Bupa Health Insurance Company?

The company has said in the papers filed with SEBI to raise Rs 3000 crore. The company will issue fresh shares worth Rs 800 crore at a face value of Rs 10. Bupa Singapore Holdings will sell shares worth Rs 320 crore and Fettle Tone LLP will sell shares worth Rs 1880 crore. Let us tell you, ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Advisors have been appointed as book running lead managers.

Also read: This Tata stock got a double blow, investors are racing to sell shares.

Who has how much share?

Niva Bupa is a joint venture between health insurance company Bupa Group and Fettle Tone LLP. According to DRHP, Bupa Singapore Holding holds 62.27 percent stake in Nipa Bupa and the remaining 27.86 percent stake is with Fettle Tone LLP. Let us tell you, if Niva Bupa is listed. So this will be the fourth company in the insurance sector. Before this there is Star Health, ICICI Lambord and The New India Assurance Company.

Paras Healthcare IPO

The company plans to issue fresh shares worth Rs 400 crore through IPO and 1.49 crore shares under offer for sale. Promoter Dharmendra Kumar Nagar is going to sell 29.28 lakh shares and investor Commelina is going to sell 1.2 crore shares. Let us tell you, Dharmendra Kumar has 75.32 percent and Commelina has 24.68 percent.

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