Niva Bupa Health Insurance Company Limited has informed the Exchange regarding 'Amendments to the Code of Practices and Procedures for Fair Disclosure of UPSI'.
NIVABUPA · price
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The Board of Niva Bupa, at its meeting on May 7, 2025, approved several key items. Two senior executives — CFO Vishwanath Mahendra and Chief Distribution Officer Ankur Kharbanda — were appointed as Whole-time Directors for 5 years each, subject to shareholder and IRDAI approval. Chief Risk Officer Joanne Elizabeth Woods resigned effective May 7, 2025, and was replaced by Vipul Sharma from May 8, 2025. The Board also approved grant of 63,12,187 Employee Stock Options (ESOPs) to eligible employees under the ESOP Scheme 2024. Additionally, M/s Nangia & Co. LLP was appointed as Statutory Auditor for 4 years (till 2029 AGM), and M/s Ranjeet Pandey & Associates as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30), both subject to shareholder approval. The Board also amended the Code of Practices and Procedures for Fair Disclosure of UPSI under SEBI Insider Trading Regulations.
This is largely a governance and housekeeping announcement — no material change in business or financials. The ESOP grant of ~63.1 lakh shares will lead to some future dilution, and the leadership changes at the risk function are routine. Shareholders will need to approve the director and auditor appointments at the upcoming AGM.