Niva Bupa Health Bulk Deal: M Pallonji, Others Buy Stake Worth Rs 309 Crore

Irage Broking Services LLP, M Pallonji and Co., Share India Securities Ltd. and promoter Patronus Tradtech LLP acquired shares of Niva Bupa Health Insurance Co. for Rs 309 crore on Monday.

Irage Broking sold 1.09 crore shares for Rs 83.51 apiece, while the same firm mopped up 32 lakh shares for Rs 83.04 apiece. Patronus Tradtech LLP offloaded 1.01 crore shares for Rs 83.91 apiece, and bought 4.3 lakh shares for Rs 82.99 apiece.

Share India Securities purchased 47.4 lakh shares for Rs 83,05 while selling 1.11 crore shares for Rs 82.91 apiece. M Pallonji bought up 1.36 crore shares or 0.74% at Rs 83.95 apiece.

Patronus Tech LLP, under the name Fettle Tone LLP, held 17.47% stake in the company as a promoter as of March 2025.

Details regarding the prior ownership stake of the other firms who undertook purchases could not be ascertained.

Shares of Niva Bupa Health Insurance closed 9.9% lower at Rs 83.11 apiece on the NSE, compared to a 0.14% fall in the benchmark Nifty. The stock has risen 12.31% in the last 12 months and fallen 1.19% on a year-to-date basis.

Out of five analysts tracking the company, four have a 'buy' rating on the stock, one recommends 'hold' , according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside/downside of 5.4%.