• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Niva Bupa Gets SEBI Nod For Rs 3,000 Crore IPO

OMMCOM NEWS by OMMCOM NEWS
October 21, 2024
in Business

Mumbai: Niva Bupa Health Insurance on Monday said it has received final approval from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise Rs 3,000 crore through an initial public offering (IPO).

Private equity (PE) firm True North-led company (erstwhile Max Bupa), had filed its IPO papers with SEBI on June 29.

According to the company, the IPO with a face value of Rs 10 each is a mix of fresh issuance of Rs 800 crore and an offer for sale (OFS) of up to Rs 320 crore by Bupa Singapore Holdings, and up to Rs 1,880 crore by Fettle Tone.

The health insurer said in a statement that it intends to utilise the net proceeds from the fresh issuance to the extent of Rs 625 crore towards augmentation of its capital base to strengthen solvency levels and for general corporate purposes.

Niva Bupa had a gross direct written premium (GDPI) of Rs 5,499.43 crore in fiscal 2024.

According to market research firm Redseer, Niva Bupa’s market share in the Indian standalone health insurer (SAHI) market was 16.24 per cent for fiscal 2024, based on retail health GDPI.

It is India’s third largest and second fastest growing standalone health insurer based on overall health GDPI of Rs 54.94 billion in FY24, which grew at a CAGR of 41.37 per cent from Fiscal 2022 to 2024.

From fiscal 2022 to fiscal 2024, Niva Bupa’s overall gross written premium (GWP) increased at a compound annual growth rate (CAGR) of 41.27 per cent, while its retail health GWP grew at a CAGR of 33.41 per cent.

The company said it has adopted a “digital-first” approach in their business and implement technology integration across every step of the customer journey, including customer onboarding, underwriting, claims and renewals.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

India Needs More Room In Urban Centres For People To Land Their First Jobs: Paul Romer

Next Post

J&K LG Directs Immediate Financial Aid For Gagangir Terror Attack Victims

Related Posts

Public Sector Banks
Business

Total Business Of Public Sector Banks Surges To Rs 251 Lakh Crore In 2024-25

June 27, 2025
Economy
Business

Early Months Of FY26 Indicate Resilient Economy, Outlook Remains Positive: Centre

June 27, 2025
RBI
Business

India Clocks Current Account Surplus Of $13.5 Billion In Jan-March Quarter

June 27, 2025
ATM
Business

Key Financial Changes Coming In July: From Aadhaar-PAN Rule To New Bank Charges

June 27, 2025
Stock Market
Business

Stock Market Hits 9-Month High As Sensex Surges Past 84,000, Nifty Nears 25,650

June 27, 2025
Adani Group
Business

Adani Becomes India’s Fastest-Growing Brand With Focus On Infra, Green Energy

June 27, 2025
Next Post

J&K LG Directs Immediate Financial Aid For Gagangir Terror Attack Victims

India-China Breakthrough: LAC Patrol Pact Enables Disengagement Ahead Of PM Modi's BRICS Engagement

Six Killed, Eight Injured In Israeli Airstrike On Lebanon: Sources

khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.