Niva Bupa Health Insurance is all set to launch its IPO, a book-built issue worth ₹2,200.00 crore. The IPO, which opened for subscription on November 7 and is set to close on November 11, comprises a fresh issue of 10.81 crore shares, aggregating to ₹800 crore and an offer for sale of 18.92 crore shares, totalling to ₹1,400.00 crores.
The price band is set at ₹70 to ₹74 per share, with a minimum lot size of 200 Shares, requiring a minimum investment of ₹14,800 from retail investors.
Niva Bupa Health Insurance IPO Subscription Status
As per the data from stock exchanges, the issue has been subscribed 0.05 times as of 11 AM on Thursday. The retail individual investors (RIIs) category has seen a subscription of 0.27 times, with 85.54 lakh shares bid for. The non-institutional investors category has a subscription of 0.01 times, with 6,87,200 shares bid for.
Niva Bupa Health Insurance IPO GMP
The grey market premium (GMP) for Niva Bupa Health Insurance IPO was at ₹0 as of Thursday. This makes the IPO’s tentative listing price at ₹74.
It’s crucial to note that GMPs are merely indicators and should not be the sole factor determining the company’s performance upon listing.
Niva Bupa Health Insurance IPO Details
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The net proceeds from the IPO will be used for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes.
The allotment for the Niva Bupa Health Insurance IPO is expected to be finalized on Tuesday, November 12, with a tentative listing date fixed as Thursday, November 14, on both BSE and NSE.
The IPO’s lead managers include 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, with Kfin Technologies Limited as the registrar for the issue.
About Niva Bupa Health Insurance
Niva Bupa Health Insurance is a leading player in the Indian health insurance sector. The company offers a range of health insurance products and services with retail products for families and individuals and group products for employers and employees.
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