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  5. Niva Bupa shares tumble over 11% after block deal; here is what we know

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Niva Bupa shares tumble over 11% after block deal; here is what we know

Upstox
By Upstox News Desk

2 min read | Updated on June 02, 2025, 09:57 IST

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SUMMARY

Niva Bupa block deal: According to news reports, Fettle Tone and Krishnan Ramchandra were expected to reduce their stake via block deals on Monday (June 2). Fettle Tone and Krishnan Ramchandra may sell a 7.2% stake in the company through block deals, reports added.

Stock list

NIVABUPA
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Niva Bupa

Last seen, the stock was trading 9.22% lower at ₹83.78 on the NSE. | Image: Shutterstock

Niva Bupa shares: Shares of Niva Bupa Health Insurance Company tumbled as much as 11.5% to ₹81.63 apiece in the opening deals on Monday, June 2, after a large trade took place during the block deal window.
According to news reports, Fettle Tone and Krishnan Ramchandra were expected to reduce their stake via block deals on Monday. Both the companies may sell a 7.2% stake in Niva Bupa through block deals, said a report by CNBC-TV18.

The offer price for the block deal is ₹82 per share, which is an 11% discount compared to Friday's closing price for Nuva Bupa.

At the offer price, the total size of the block deal comes up to ₹1,082 crore.

The March 2025 quarter shareholding pattern shows that Fettle Tone LLP is a part of the public shareholders group. The entity held a 17.47% stake in the company.

Krishnan Ramachandran is Managing Director & Chief Executive Officer of Max Bupa.

Last seen, the stock was trading 9.22% lower at ₹83.78 on the NSE.

Niva Bupa IPO and listing details

Shares of the company, formerly Max Bupa Health Insurance Company, listed with a premium of 6% against the issue price of ₹74 on November 14, 2024.

The stock made its debut at ₹78.50, up 6% on the BSE. It further jumped 9.37% to ₹80.94.

On the NSE, it listed at ₹78.14, a surge of 5.59% from the issue price.

The company's market valuation stood at ₹14,069.93 crore.

The initial public offering (IPO) of Niva Bupa Health Insurance Company Ltd got subscribed 1.80 times on the closing day of the share sale.

The IPO had a price band of ₹70-₹74 per share.

The ₹2,200 crore IPO had a fresh issuance of equity shares worth ₹800 crore and an offer-for-sale (OFS) of up to ₹1,400 crore by promoters.

The company said it intended to utilise the net proceeds from the fresh issuance towards boosting its capital base to strengthen solvency levels, and a portion will be used for general corporate purposes.

This was the second standalone health insurer to float an IPO after Star Health & Allied Insurance Company.

(With inputs from PTI)
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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.