Niva Bupa Health Insurance Limited’s initial public offering (IPO) of new shares through a book-building process with an offer for sale (OFS) component opened for subscription on Thursday, November 7. Investors bid for 11.19 million rupees of shares, while the actual shares available were 17.28 million rupees.
Among the three segments, qualified institutional buyers (QIBs) subscribed the largest share of the public offering, accounting for 79% of the first-day allocation share. According to Bombay Stock Exchange (BSE) IPO data, non-institutional investors (NIIs) subscribed 33% on the first day.
The health insurance company’s IPO opened for public subscription on Thursday, November 7, and will close on Monday, November 11. $On Wednesday, November 6, its anchor investors raised Rs 990 crore. $70 to $74 shares per share, 200 shares per lot.
Niva Bupa health insurance IPO today GMP
As of November 7, the gray market premium (GMP) for the Niva Bupa Health Insurance IPO was zero. The gray market premium (GMP) refers to the amount investors are willing to pay above the issue price.
Health insurance companies are at the higher end of their price range $74. Estimated public issuance and listing time: $$74 per share, according to Investorgain.com.
Niva Bupa Health Insurance IPO Details
Niva Bupa Health Insurance Ltd. was established in 2008 as a joint venture between Bupa Group and Fettle Tone LLP. Through its Niva Bupa Health mobile app and website, customers can access a comprehensive health ecosystem and service capabilities.
The health insurance company aims to use the funds raised in the initial public offering to expand its capital base and for general corporate purposes.
ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Hdfc Bank Limited and Motilal Oswal Investment Advisors Limited are the bookrunners for the public issue and Kfin Technologies Limited is the registrar.
