Shardul Amarchand Mangaldas & Co. Advised Underwriters On Niva Bupa Health Insurance Company’s IPO
Shardul Amarchand Mangaldas & Co. Advised Underwriters On Niva Bupa Health Insurance Company’s IPO
Shardul Amarchand Mangaldas & Co. (SAM & Co.) advised the Underwriters, viz., ICICI Securities Limited, Morgan Stanley India Company Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited and Motilal Oswal Investment Advisors Limited on Niva Bupa Health Insurance Company Limited’s (“Company”) USD 260 million initial public offering of equity shares.
The IPO comprised a primary issuance of equity shares by the Company as well as a secondary sale by its promoters, Bupa Singapore Holding Pte. Ltd (Bupa Group) and Fettle Tone LLP (True North). The IPO was oversubscribed 1.80 times overall, with the qualified institutional buyers’ component being subscribed 2.06 times and the retail investors’ component being subscribed 2.73 times. The equity shares were listed on BSE Limited and National Stock Exchange of India Limited on November 14, 2024.
The SAM & Co. team was led by Prashant Gupta, National Practice Head – Capital Markets; Abhiroop A. Datta, Partner; Ankur Verma, Senior Associate; Sridutt Mishra, Associate; Purva Mishra, Associate; Mansie Jain, Associate and Mathangi K., Associate.
Cyril Amarchand Mangaldas advised the Company and the Selling Shareholders on Indian law. White & Case LLP acted as international legal advisors to the IPO.
