The draft papers filed by True North-backed Niva Bupa Health Insurance Company Ltd envisage a fresh issue of Rs 800 crore to the public and an offer for sale (OFS) of up to Rs 2,200 crore by existing shareholders.
The OFS includes up to Rs 320 crore of shares of Bupa Singapore Holdings Pte and Rs 1,880 crore of Fatal Tone LLP.
Bupa Singapore Holdings holds 62.27 per cent stake in the health insurer while Fatal Tone LLP holds 27.86 per cent stake in the company.
According to reports, Morgan Stanley India, Kotak Investment Capital, Axis Capital, ICICI Securities and HDFC Bank have been appointed for the IPO.
Niva Bupa will be the second stand-alone health insurance company to be listed on Indian stock exchanges after Star Health Insurance.
In September last year, leading private equity firm True North sold 20 per cent stake in Niva Bupa Health Insurance to its partner Bupa for Rs 2,700 crore, taking the valuation of the Indian firm to Rs 13,500 crore.
The OFS includes up to Rs 320 crore of shares of Bupa Singapore Holdings Pte and Rs 1,880 crore of Fatal Tone LLP.
Bupa Singapore Holdings holds 62.27 per cent stake in the health insurer while Fatal Tone LLP holds 27.86 per cent stake in the company.
According to reports, Morgan Stanley India, Kotak Investment Capital, Axis Capital, ICICI Securities and HDFC Bank have been appointed for the IPO.
Niva Bupa will be the second stand-alone health insurance company to be listed on Indian stock exchanges after Star Health Insurance.
In September last year, leading private equity firm True North sold 20 per cent stake in Niva Bupa Health Insurance to its partner Bupa for Rs 2,700 crore, taking the valuation of the Indian firm to Rs 13,500 crore.
