Global law firm White & Case LLP has advised the book running lead managers on the initial public offering (IPO) of Niva Bupa Health Insurance Company Limited (Niva Bupa).
"The White & Case team successfully advised on another significant Indian market IPO in 2024," said White & Case partner Rahul Guptan, who co-led the Firm's deal team. "We continue to advise on transactions that showcase the strength of the Indian economy and unlock value through public market exits for private equity firms and Indian companies that are part of global conglomerates."
The Niva Bupa IPO opened for public subscription on November 7, 2024 and received a strong response from investors, being oversubscribed 1.17 times. ICICI Securities Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited and Motilal Oswal Investment Advisors Limited acted as book running lead managers.
Niva Bupa is one of India's largest and fastest growing standalone retail health insurers. It is a joint venture between Bupa Group and Fettle Tone and is the only health insurance company in India that is majority controlled by a foreign global healthcare group.
The White & Case team which advised on the transaction was led by partners Rahul Guptan, John Cunningham and Sonica Tolani (all London) and included partners Kaya Proudian (Singapore), Steven Gee, David Johansen (both New York) and Sami Al-Louzi (Dubai), local partner James Hsiao (Hong Kong) and associates Stephanie Zhao, Ji Yang Lim, Rachna Talati (all Singapore), Hilda Leung, Royston Tan, Yuning Zhou (all Hong Kong), Girindra Henriyono, Deborah Victoria (both Jakarta), Edward Lee (Sydney) and Daniel Park (New York).
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