Niva Bupa Well being Insurance coverage Restricted’s preliminary public providing (IPO), via a book-building course of, affords a recent difficulty and an offer-for-sale (OFS) element, opened for subscription on Thursday, November 7. The general public provide was subscribed 65 per cent on the primary day as traders bid for 11.19 crore shares, in comparison with 17.28 crore shares accessible.
Among the many three segments, Certified Institutional Consumers (QIBs) subscribed to the general public difficulty probably the most, at 79 per cent of their allotted portion on Day 1. The retail traders adopted the QIB lead by subscribing 71 per cent of their accessible shares. The Non-Institutional Traders(NIIs) subscribed 33 per cent on Day 1, based on the Bombay Inventory Change (BSE) IPO knowledge.
The well being insurer’s IPO opened for public subscription on Thursday, November 7, and can shut on Monday, November 11. The corporate raised ₹990 crore from its anchor traders on Wednesday, November 6. Niva Bupa Well being Insurance coverage set its IPO worth band on the vary of ₹70 to ₹74 per share, with lots measurement of 200 shares per lot.
Niva Bupa Well being Insurance coverage IPO GMP immediately
As of November 7, Niva Bupa Well being Insurance coverage IPO’s gray market premium (GMP) is nil. Gray market premium (GMP) is the investor’s willingness to pay extra on prime of the problem worth.
The well being insurer’s worth band is on the higher degree of ₹74, and the general public difficulty is anticipated to be listed at ₹74 per share, as per Investorgain.com knowledge.
Niva Bupa Well being Insurance coverage IPO Particulars
Niva Bupa Well being Insurance coverage Ltd., established in 2008, is a three way partnership between the Bupa Group and Fettle Tone LLP. By way of its Niva Bupa Well being cellular utility and web site, prospects have entry to a complete well being ecosystem and repair capabilities.
The well being insurer goals to make use of the cash raised from the IPO to reinforce its capital base and for common company functions.
ICICI Securities Restricted, Morgan Stanley India Firm Pvt Ltd, Kotak Mahindra Capital Firm Restricted, Axis Capital Restricted, Hdfc Financial institution Restricted, and Motilal Oswal Funding Advisors Restricted are the e-book runners for the general public difficulty, whereas Kfin Applied sciences Restricted is the registrar.
