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Niva Bupa Health Insurance is set to launch its IPO with issue size of Rs. 3,000 crore.
The IPO will include new shares of Rs. 800 crore and existing shares of Rs. 2,200 crore.
The company's promoters are Bupa Singapore Holdings Pte Ltd and Bupa Investments Overseas Limited.
While Bupa Singapore Holdings Pte, which holds a 62% stake, will sell shares worth Rs. 320 crore, Fettle Tone LLP, with a 28% stake, will sell shares worth Rs. 1,880 crore.
The lead managers for the IPO are ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors. KFin Technologies will be the registrars.
The net proceeds from the IPO, amounting to Rs. 625 crore, will be used to strengthen the company's capital base and improve solvency levels.
