Niva Bupa IPO: The initial public offering of the leading health insurance provider in the country ‘Niva Bupa’ opened for subscription on Thursday i.e. November 7. The company has set a price range of Rs 70-74 per share as it aims to raise Rs 2,200 crore through the initial share sale. Investors willing to place a bid can do so till November 11.
Niva Bupa IPO GMP Today
The Grey Market Premium of the Niva Bupa IPO is Flat. According to investorgain.com, the shares are trading at the upper band of the price band at Rs 74 power share, with no gain. The initial grey market premium suggests a flat listing of the shares on listing day. The grey market is an unofficial place where shares trade before listing.
Niva Bupa IPO Subscription Status
Till 11:15 am, the Niva Bupa IPO was subscribed 0.06 times. The quota reserved for retail investors got 0.32 times the subscription, while the non-institutional investor’s quota got 0.02 times the bidding. The section reserved for qualified institutional buyers did not get any subscription till that time.
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Niva Bupa IPO bidding date
Niva Bupa’s IPO will be open between November 7 and November 11. The IPO was opened for anchor investors on November 6.
Niva Bupa IPO price band
The leading health insurance provider has set a price band of Rs 70-74 for its IPO.
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IPO is a combination of fresh shares and offer for sale
Niva Bupa’s initial public offering is a combination of a fresh issue of equity shares worth Rs 800 crore and an offer for sale by existing investors of up to Rs 1,400 crore. The company had earlier sought to raise Rs 3,000 crore but later reduced the issue size.
Under the OFS, Fetal Ton LLP will sell shares worth Rs 1,050 crore and Bupa Singapore Holdings Private Limited will sell shares worth Rs 350 crore. Bupa Singapore Holdings Private Limited will sell shares worth Rs 1,050 crore. Ltd. currently holds a 62.19 per cent stake in the company, while Fatal Ton LLP holds a 26.8 per cent stake.
What does Niva Bupa do?
Niva Bupa Health Insurance Company is one of India’s leading standalone retail health insurance companies (SAHI). It achieved a Gross Direct Written Premium (GDPI) of Rs 5,499.43 crore in FY22 and Rs 5,607.57 crore in FY23, up 37.68 per cent from Rs 4,073.03 crore in FY22.
