Niva Bupa Health Insurance Company Ltd is set to make its much-anticipated market debut today, November 14, 2024, at 10 AM on both the NSE and BSE. The initial public offering (IPO) of Niva Bupa opened for subscription from November 7 to November 11, 2024, and has generated significant interest among investors.
Niva Bupa IPO Subscription Details
The Niva Bupa IPO was well-received, with the issue being subscribed 1.80 times on the final day of bidding. The company received bids for 31,136,280 shares against the 17,285,714 shares on offer, according to data from the NSE. Breaking down the subscriptions:
- Retail Individual Investors (RIIs): Subscribed 2.73 times
- Qualified Institutional Buyers (QIBs): Subscribed 2.06 times
- Non-Institutional Investors: Achieved a subscription of 68%
Price Band and Investment Details
Niva Bupa has set a price band for its IPO ranging from ₹70 to ₹74 per share, making it accessible for a wide range of investors. Each lot consists of 200 shares, translating to a minimum investment of approximately ₹14,800.
Niva Bupa Share Price: Initial Listing Performance
As the market opens, Niva Bupa shares are listed at ₹78.14 apiece on the NSE, reflecting a premium of 5.59% over the upper end of the IPO price band of ₹74. This positive start indicates strong investor interest and confidence in the company’s future prospects.
Grey Market Premium (GMP) Insights
Prior to its listing, Niva Bupa’s shares were commanding a Grey Market Premium (GMP) of ₹1, suggesting a muted start for the stock. This indicates that if the shares list at this premium, they could begin trading at around ₹75 on the exchanges.
About Niva Bupa Health Insurance
Headquartered in New Delhi, Niva Bupa is a joint venture between Fettle Tone LLP and Bupa Singapore Holdings Pte. Limited. Previously known as Max Bupa Health Insurance Company, it aims to provide comprehensive health insurance solutions to its customers.
Key Financials of the IPO
The total size of the Niva Bupa IPO is approximately ₹2,200 crore, which includes:
- A fresh issue of 10.81 crore shares amounting to ₹800 crore
- An offer for sale of 18.92 crore shares worth ₹1,400 crore
Book Running Lead Managers and Sponsor Banks
The IPO is managed by several prominent financial institutions:
- Book Running Lead Managers: ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors.
- Sponsor Banks: HDFC Bank and Axis Bank.
Anticipated Market Reaction
As Niva Bupa prepares for its listing today, market analysts will be closely watching investor sentiment and trading volumes. The performance of the stock in its initial hours will provide insights into how well it has been received by the market.
Conclusion: What Lies Ahead for Niva Bupa?
With a solid subscription rate and investor interest in health insurance continuing to grow, Niva Bupa’s market debut is highly anticipated. Investors are encouraged to monitor the listing closely as it unfolds today.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. Investors should conduct their own research and consult with certified financial advisors before making any investment decisions regarding the Niva Bupa IPO or any other financial instruments.
