Daily BriefsIndia

Daily Brief India: InterGlobe Aviation Ltd, Niva Bupa Health Insurance, IGI (India) Limited, Inventurus Knowledge Solutions and more

In today’s briefing:

  • Interglobe Aviation (Indigo) Placement – Another US$800m+ Deal, This Time by the Correct Co-Founder
  • Niva Bupa Health Insurance Pre-IPO – Strong GWP Growth, However Some Risks Remain
  • IGI (India) Pre-IPO Tearsheet
  • Inventurus Knowledge Solutions Pre-IPO Tearsheet


Interglobe Aviation (Indigo) Placement – Another US$800m+ Deal, This Time by the Correct Co-Founder

By Sumeet Singh

  • InterGlobe Aviation Ltd (INDIGO IN)’s co-founder, Rakesh Gangwal, aims to raise around US$850m via selling around 3.8% stake in Indigo.
  • He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with his co-founder Rahul Bhatia. He has sold many times before.
  • In this note, we will talk about the lockup dynamics and possible placement.

Niva Bupa Health Insurance Pre-IPO – Strong GWP Growth, However Some Risks Remain

By Clarence Chu

  • Niva Bupa Health Insurance (1226871D IN) is looking to raise US$360m from its upcoming India IPO. The IPO will consist of both primary and secondary shares.
  • Niva Bupa Health Insurance (Niva Bupa) is a health insurance firm. Its portfolio consists of health (including retail and group), personal accident, and travel insurance.
  • In this note, we look at the firm’s past performance.

IGI (India) Pre-IPO Tearsheet

By Akshat Shah

  • IGI (India) Limited (2261751D IN) is looking to raise about US$480m in its upcoming India IPO. The deal will be run by Axis, Kotak, MS, and SBI Caps.
  • IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye.
  • Its primary business is in provision of services related to certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones as well as offering of educational programs.

Inventurus Knowledge Solutions Pre-IPO Tearsheet

By Ethan Aw

  • Inventurus Knowledge Solutions (IKSINCD IN) is looking to raise up to US$400m in its upcoming India IPO. The deal will be run by ICICI, JM Financial, Jefferies, Nomura and JPM. 
  • Inventurus Knowledge Solutions (Inventurus from hereon) is a technology-enabled healthcare solutions provider, offering a care enablement platform which assists physician enterprises in the US, Canada and Australia. 
  • Its physician-oriented platform includes clinical documentation solutions, patient scheduling assistance, automated prescription refill solutions and clinical document management, amongst others. 

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