Niva Bupa, an Indian health insurer majority-owned by British United Provident Fund (Bupa), has filed for an initial public offering (IPO) aiming to raise up to Rs 3,000 crore (approximately $360 million). The IPO includes fresh share issuance of Rs 8 crore to strengthen its financial position and cover operational expenses. Existing shareholders, including Bupa Singapore Holdings and Fettle Tone, will also sell shares worth up to Rs 2,200 crore. As of fiscal 2024, Niva Bupa’s borrowings remained stable at Rs 250 crore, while its total income saw a significant 44% year-on-year increase.
Niva Bupa Plans IPO to Raise Funds
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