Niva Bupa Health Insurance IPO was subscribed 8% as of 1200 IST on November 07, 2024. The company received bids worth Rs 100.55 crore. Retail investors booked the issue 0.42 times, the highest among other categories. The NIIs subscribed to the IPO 0.02 times. There was no interest shown by the QIBs.
Niva Bupa Health Insurance IPO Details
The health insurance IPO opened on November 07 to raise Rs 2,200 crore. The IPO will close on November 11. The IPO price band ranged between Rs 70 to Rs 74 per equity share. The share allotment will likely be finalised on November 12. The listing on NSE and BSE is expected to be on November 14. An individual retail buyer can apply for a minimum of 200 shares which costs Rs 14,800 and then in multiples of 200 shares.
Niva Bupa Health Insurance IPO GMP
The company’s shares were neither fetching a premium nor a discount in the grey market, indicating muted listing gains. Market participants keep an eye on GMP to track listing gains. The grey market is an illegal market to trade shares ahead of listing.
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Expert’s take on Niva Bupa Health Insurance
“We believe Niva Bupa Health Insurance IPO brings investors an opportunity to invest in one of India’s fastest-growing standalone health insurers with a robust product portfolio, strategic innovation and digital advancements. We think with high-margin, high-LTV products driving significant growth in their retail health business, the company has managed to increase the average ticket size and improve its claims ratio, demonstrating operational efficiency. We also believe recent product launches like “ReAssure” and “Aspire,” aimed at diverse demographics, along with a well-developed “360-degree” health ecosystem on their app, reflect a customer-centric approach with long-term potential,” said Rajan Shinde, Research Analyst at Mehta Equities.
BRLMs and registrar
ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors are the book-running lead managers of the IPO. Kfin Technologies was the registrar for the issue.
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