Niva Bupa Health Insurance sinks 10% after block deal; Fettle Tone, Krishnan Ramchandra likely sellers

Shares of Niva Bupa Health Insurance have risen by 23.4 per cent in the last six months.

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26 Aug, 2025 12:21

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Shares of Niva Bupa Health Insurance sank almost 10 percent during the opening session on Monday, June 2, after a block deal took place on the bourses.

Around 56.3 lakh shares of Niva Bupa changed hands in a block trade. At 9.15 am, shares of the firm were quoting Rs 83.24 apiece, down 9.8 percent on the NSE.

Ahead of the block deal, reports indicated that Fettle Tone and Krishnan Ramchandra were likely to sell up to 7.2 percent of their stake in Niva Bupa Health Insurance Company through block deals. The expected block size for the transaction was around Rs 1,082 crore.

According to the term sheet, the indicative offer price was Rs 82, which is a 11.1 per cent discount to the closing price of Rs 92.29 per share on May 30, the term sheet said. ICICI Securities and Kotak Mahindra Capital are the investment banks acting on the transaction.

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The Niva Bupa Health Insurance stock has risen by 23.4 per cent in the last six months. British insurer Bupa is the promoter of the firm with 55.98 per cent stake and True North via Fettle Tone LLP holds 17.47 per cent stake as per latest exchange data.

When Niva Bupa Health Insurance listed on the domestic bourses in November 2024, it was the first instance of a pure-play global MNC insurer (British health insurance and healthcare player Bupa) backed listing in India.

Four years after picking up a majority stake from Max in Max Bupa Health Insurance (later Niva Bupa Health Insurance), True North ceded control to JV partner Bupa in September 2023 by agreeing to sell a 20 percent stake to the British firm for around Rs 2,700 crore.

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