Niva Bupa Health Insurance shares fell as much as 11.55% to a low of Rs 81.63 in Monday’s trade after block deals worth Rs 1,082 crore.
True North, a domestic private equity firm, along with other entities, are planning to raise up to $126 million through the block deal route in Niva Bupa by selling a 7.2% stake, reported Moneycontrol, citing a term sheet.
Fettle Tone LLP, a True North entity, expects to dilute 6.7%, and the MD and CEO, Krishnan Ramachandran looking to offload a 0.5% stake in the health insurer.
The indicative offer price is Rs 82 per equity share, which is an 11.1% discount to the closing price of May 30, that is Rs 92.29 per share.
ICICI Securities and Kotak Mahindra Capital are acting as the investment bankers in the transaction.
Bupa, a British insurer, is the promoter of the firm with 5a 5.98% stake, and True North holds 17.47% equity in Niva Bupa.
Niva Bupa Health Insurance Q4 results
Niva Bupa Health Insurance reported a jump of 31.21% year-on-year in its net profit to Rs 206.08 crore, compared with Rs 157.06 crore posted in Q4FY24. The surge in net profit was on the back of an increase of 18.14% YoY in gross premiums written during the period. Its gross premiums written rose to Rs 2078.65 crore from Rs 1759.44 crore for Q4FY24. Niva Bupa’s net premium written increased by 45% YoY to Rs 1,672.11 crore in Q4FY25, compared with Rs 1,152.43 crore in the same period a year ago
Niva Bupa stock performance
The stock of Niva Bupa has risen 1.34% in the last five trading sessions. It has given a return of 12.3% in the past one month and 24% in the previous six months. Niva Bupa’s share price has surged by 12.66% since the day of listing in November 2024.