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Niva Bupa Health Insurance IPO opened on November 07 and the company targets raising Rs 2,200 crore. The IPO will be closed on November 11 and the price band is between Rs 70 – 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.
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 is the registrar for the issue.
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“Over the last three fiscal years, NBHICL has reported an average earnings per share (EPS) of Rs. 0.05 (basic) and an average return on net worth (RoNW) of -2.58%. The issue is priced at a price-to-book value (P/BV) of 6.19 based on its net asset value (NAV) of Rs. 11.95 as of June 30, 2024, and a P/BV of 4.73 based on its post-IPO NAV of Rs. 15.66 per share (at the upper cap). If we annualize FY25 earnings to the post-IPO fully diluted equity base, the asking price results in a negative price-to-earnings (P/E) ratio. Based on FY24 earnings, the P/E ratio stands at 642.22. Consequently, the issue appears to be aggressively priced,” said Bajaj Broking in an IPO note.
15:16 (IST) 7 Nov 2024 Niva Bupa Health Insurance IPO 2024 Live: Niva Bupa price band
The price band for Niva Bupa Health Insurance IPO is set at Rs 371 – 390 per share.
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