Insurance company Niva Bupa Health files papers for ₹3,000 cr IPO

Niva Bupa Health Insurance Company has filed a draft red herring prospectus (DRHP) with SEBI to raise ₹3,000 crore through an IPO. The IPO will consist of a fresh issue of ₹800 crore and an offer-for-sale (OFS) of up to ₹2,200 crore. The firm, which is linked to over 10,000 network hospitals, reportedly has 1.8% market share in India.