Niva Bupa Health Insurance, an India-based health insurance firm backed by private equity firm True North, and Paras Healthcare, one of the top Indian private hospitals, have received the Securities and Exchange Board of India’s (SEBI) approval to launch Initial Public Offerings (IPOs).
Niva Bupa aims to raise ₹3,000 crore ($361 million USD), comprising Rs 800 crore ($96.4 million USD), through fresh equity and ₹2,200 crore ($264 million USD) via an Offer for Sale (OFS).
The Times of India reported in July 2024 that Niva Bupa is “the second standalone health insurer to file an IPO, after Star Health & Allied Insurance Company”, India’s leading health insurer.
October 25, 2024