NBNiva Bupa Health Insurance Company544286NCD issuance

Call option notice: 1,500 debentures of ₹ 10,00,000 each to be redeemed at par on November 15, 2026

Niva Bupa is calling back 1,500 unsecured subordinated debentures of ₹ 10,00,000 each, aggregating ₹ 1,50,00,00,000, at par on the November 15, 2026 call date (payment November 13, 2026; record date November 02, 2026).

By ScoutQuest · Thu 15 Oct 2026, 5:00 PM IST · 2 min read

Debentures called back

1,500 unsecured subordinated debentures of ₹ 10,00,000 each

Aggregate amount

₹ 1,50,00,00,000

Post-call solvency

above 180%

The company has issued a Call Option Notice dated October 15, 2026, exercising its right to redeem in full its 10.70% unsecured, subordinated, listed, rated, redeemable, non-convertible debentures. The call is exercised at the first available call date, five years from the deemed date of allotment of November 15, 2021, that is November 15, 2026. The debentures are to be redeemed at par.

The debentures

• Number of securities: 1,500
• Face value: ₹ 10,00,000 per debenture
• Issue size and outstanding principal for redemption: ₹ 1,50,00,00,000 (Rupees One Hundred and Fifty Crore)
• Coupon rate: 10.70% per annum, fixed, paid annually
• Tenor: 10 years from November 15, 2021, subject to exercise of any call option
• Scheduled redemption date, if not called: November 15, 2031

Dates that matter

• Record date: November 02, 2026 — debenture holders appearing in the depository records on this date are eligible for the redemption amount
• Call Option Date: November 15, 2026
• Interest and redemption payment date: November 13, 2026, since November 15, 2026 is not a business day
• After the record date, the ISIN will be frozen by the depository and no trading in the debentures can be carried out by debenture holders

Solvency statement

The company states that under the IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024, it is permitted to exercise the call without prior IRDAI approval, provided the solvency position after the exercise remains at least 20% above the control level of solvency, that is above 180%. The company confirms that after exercising the call its solvency position will be above 180%, and that it will inform IRDAI within 15 days from the date of communication of the exercise of the call option.

What debenture holders receive

The debentures will be redeemed at par, at the face value of ₹ 10,00,000 each, along with interest accrued up to but excluding the Call Option Date. This combined amount is the Redemption Amount, paid to those holding the debentures as on the record date by credit to the bank account appearing in their demat account. Once redeemed, the debentures will carry no obligation for principal, interest or otherwise, and the company will extinguish all debentures fully.

What it means

• The company is repaying its entire ₹ 1,50,00,00,000 subordinated debt issue well ahead of the November 15, 2031 scheduled redemption date.
• Subordinated debt forms part of an insurer's capital, and the notice states that the solvency position after the exercise will remain above 180%.
• For debenture holders the outcome is a repayment at par plus accrued interest, with the record date, freeze on trading and payment date set out in the notice.
• The notice also states that the debentures may be suspended for trading by the National Stock Exchange of India Limited as it may deem fit.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev