Exciting News: Niva Bupa Health Insurance files for IPO to raise Rs 3,000 crore!
MUMBAI: Niva Bupa Health Insurance (formerly Max Bupa) has submitted a draft red herring prospectus to Sebi to raise an impressive Rs 3,000 crore. The IPO includes an offer for sale and a fresh issue of shares.
Private equity investor True North, which acquired 51% of Max India in 2019 and holds its stake through Fettle Tone, is set to get a partial exit through the OFS. The sale offer includes up to Rs 320 crore by Bupa Singapore Holdings and up to Rs 1,880 crore by Fettle Tone, with the remaining Rs 800 crore being a fresh issue of shares.
This move is expected to create a buzz in the health insurance industry, showcasing confidence in the market and offering new opportunities for investors.
Stay tuned for more updates on Niva Bupa Health Insurance’s IPO and its impact on the financial landscape.
