Niva Bupa Health Insurance IPO Sees Strong Subscription
Niva Bupa Health Insurance Company's IPO attracted 1.80 times subscription by its conclusion. The offering received bids for over 31 million shares compared to 17.28 million on offer. Retail investors showed high interest with 2.73 times subscription, highlighting strong market confidence.
- Country:
- India
The initial public offering of Niva Bupa Health Insurance Company Ltd. concluded with remarkable investor interest, securing an oversubscription rate of 1.80 times on its final day.
According to data from the NSE, bids poured in for 31,13,62,800 shares against the 17,28,57,143 shares made available. The IPO saw retail investors subscribing 2.73 times, while bids from Qualified Institutional Buyers stood at 2.06 times the offered shares. Non-Institutional Investors subscribed to 68 percent of their allotted shares.
Prior to this, Niva Bupa raised Rs 990 crore from anchor investors. With a price band of Rs 70-74 per share, the IPO's total worth stands at Rs 2,200 crore, comprising Rs 800 crore in fresh equity shares and an offer for sale of Rs 1,400 crore by existing promoters. This IPO follows the path of Star Health & Allied Insurance Company, making Niva Bupa the second standalone health insurer to go public.
(With inputs from agencies.)