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True North, Niva Bupa CEO to Sell 132 Million Shares in Rs 1,082 Crore Block Deal at Rs 82 Share Price | DeepNewz VC
deepnewz
·
2m ago
Medial
Private equity investor True North and the CEO of Niva Bupa plan to sell a total of 132 million shares in Niva Bupa Health Insurance. This transaction, set as a block deal, is valued at approximately Rs 1,082 crore. The information comes from a term sheet reviewed by ET NOW.
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True North plans exit move as Niva Bupa prepares for $360-mn IPO
VCCircle
·
1y ago
Medial
Indian health insurer Niva Bupa is preparing to raise $360 million in an initial public offering (IPO), with a potential valuation of up to $2.5 billion. Bupa, which currently holds a 63% stake in the Indian venture, plans to sell a small stake worth up to $38 million, while private equity firm True North intends to sell a stake worth up to $225 million. Niva Bupa has hired Morgan Stanley and several Indian banks for the IPO, and plans to use the funds to strengthen its balance sheet and cover operating expenses.
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Niva Bupa ropes in Kotak, Axis, HDFC & three others to run its ₹3,000-crore IPO
Livemint
·
1y ago
Medial
Private health insurer Niva Bupa is preparing to raise ₹3,000 crore through an initial public offering (IPO) with the help of six investment banks. The move comes after majority shareholder True North sold a large portion of its stake to UK partner Bupa. Niva Bupa has appointed Kotak Mahindra Capital, Axis Capital, HDFC Bank, Morgan Stanley, ICICI Securities, and Motilal Oswal to manage the IPO, which is expected to take place towards the end of 2024. The IPO could value the company at ₹15,000-18,000 crore. In FY23, Niva Bupa achieved over ₹4,000 crore in gross written premium and an 8% market share in the health insurance market.
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True North, Temasek-backed Niva Bupa probes data leak claim
VCCircle
·
5m ago
Medial
Niva Bupa Health Insurance is investigating a claim by an anonymous source alleging access to its customer data. The company, backed by True North and Temasek, is urgently probing the potential data leak and implementing mitigation measures. Niva Bupa, which went public recently, has not disclosed further details. This incident follows similar cyber threats at HDFC Life and Star Health. Shareholders include Temasek, A91 Partners, and Motilal Oswal Alternates.
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Private equity firm True North sees another top executive movement
VCCircle
·
10m ago
Medial
True North, a private equity firm based in Mumbai, has experienced another executive departure. The firm, known for its investments in companies like Niva Bupa and Biocon Biologics, is currently in the process of raising a new private equity fund.
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TPG, Everstone Capital, Niva Bupa, Blackstone, OTT platform Stage in news
VCCircle
·
9m ago
Medial
TPG is planning to launch a green financing platform in India, while Blackstone is considering acquisitions in the Indian hotel sector. Everstone Capital has temporarily suspended its plans to sell its stake in Restaurant Brands Asia, and Niva Bupa Health Insurance is preparing for its IPO.
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Creador, True North's exit plans move ahead as portfolio companies get IPO nod
VCCircle
·
9m ago
Medial
Private equity firms True North and Creador are progressing with their plans to monetize their investments, as two of their portfolio companies have received regulatory approval for IPOs. The Securities and Exchange Board of India (SEBI) has approved the IPO proposals of Niva Life Insurance and Vandana Publications. This is a positive development for True North and Creador, as they seek to exit their investments and generate returns.
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Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news
VCCircle
·
10m ago
Medial
- True North considering complete exit from Shree Digvijay Cement Company - Edelweiss Alts, CarDekho, and Afcons in IPO news - True North exploring options to sell its stake in Shree Digvijay Cement Company - Private equity firm engaged advisors for the exit - True North currently holds a 54.83% stake in the company
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PE-backed Niva Bupa plans IPO; Udaan valuation slumps
VCCircle
·
1y ago
Medial
Niva Bupa Health Insurance, a health insurance provider in India, is reportedly planning to go public with an initial public offering (IPO) valued at Rs 3,000 crore. The IPO will consist of a fresh issue of shares as well as an offer for sale by existing shareholders. Meanwhile, the valuation of Udaan, an Indian business-to-business e-commerce platform, has taken a hit.
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Niva Bupa eyes Rs 2,200 Cr via IPO; sets price band at Rs 70-74/share
YourStory
·
9m ago
Medial
Niva Bupa Health Insurance Company has announced the price band for its initial public offering (IPO) at Rs 70-74 per share. The IPO, which is a combination of fresh equity shares and an offer for sale by promoters, is set to open for public subscription on November 7. The company aims to raise Rs 2,200 crore through the IPO, with proceeds to be used for strengthening capital base and general corporate purposes. The IPO will be the second by a standalone health insurer in India, following Star Health & Allied Insurance Company.
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PNB Housing Finance: Asia Opportunities Fund likely to offload 1.3 crore shares for $132 million
Money Control
·
11m ago
Medial
Asia Opportunities V (Mauritius) plans to sell 1.29 crore shares of PNB Housing Finance in a block deal, aiming to raise $132 million from the sale. The deal will have a base offering size of 78 lakh shares with an option to upsize by 51 lakh shares. The shares are expected to be offered at a floor price of Rs 858, which is 4% lower than the previous close price. Goldman Sachs will be managing the deal.
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