Health insurance company Niva Bupa has received SEBI's approval for an IPO of Rs 3,000 crore. Market regulator SEBI said in its latest update that it has given permission to Niva Bupa Health Insurance Company for Initial Public Offering (IPO) on October 18. After SEBI's approval, the company can proceed with its IPO plan and raise funds from the capital market.

Niva Bupa filed its draft red herring prospectus with the market regulator on June 29 this year.
 

Global private equity firm True North-backed Niva Bupa Health Insurance aims to raise Rs 3,000 crore through an IPO, a mix of a fresh issue of equity shares worth Rs 800 crore and an offer for sale (OFS) of Rs 2,200 crore. The OFS comprises an offer for sale of up to Rs 320 crore by Bupa Singapore Holdings Private Limited and an offer for sale of up to Rs 1,880 crore by Fetal Tone LLP. The fast-growing standalone health insurance company will use the proceeds of Rs 625 crore from the fresh issue to increase its capital base, strengthen its solvency level and for general corporate purposes. Niva Bupa Health Insurance Company Limited is one of the largest and fastest growing standalone health insurance company (SAHI) in India with a Gross Direct Written Premium (GDPI) of ₹5,499.43 crore in FY 2024.