Niva Bupa Health IPO: A continuous decline is being seen in the secondary market of the stock market for the last one and a half month. But the bad mood of the market has started affecting the primary market i.e. IPO market also. And this can be gauged from the fact that after the IPO of Swiggy and Sagility India Limited, the IPO of health insurance sector company Niva Bupa Health Insurance also somehow managed to get filled. Is. On the last day of applications, Niva Bupa’s IPO closed with just 1.80 times subscription.
The IPO of Niva Bupa Health Insurance opened on 7 November and 11 November was the last date for applications. 9,42,85,715 shares were reserved in the IPO for institutional investors and this category could be subscribed only 2.06 times. 4,71,42,857 shares were reserved for non-institutional investors and this category could be filled only 0.68 times. 3,14,28,571 shares were reserved for retail investors and this category is filled 2.73 times. That means, thanks to institutional and retail investors, the IPO has been successful.
Niva Bupa Health Insurance is raising Rs 2200 crore from the market through IPO, of which Rs 800 crore is being raised by issuing new shares and Rs 1400 crore is being raised through offer for sale. The company had fixed the price band of Rs 70-74 for a share with a face value of Rs 10. The basis of allotment will be decided on 12th November. Refunds will be issued to investors on 13th November and shares will be credited to the demat accounts of investors on the same day and Niva Bupa’s IPO will be listed on the National Stock Exchange and BSE on Thursday, 14th November.
Bupa Singapore Holdings Pte Limited and Bupa Investments Overseas Limited are the promoter companies of Niva Bupa Health Insurance. In the financial year 2023-24, Niva Bupa Health Insurance has seen a jump of 44.05 percent in revenue and 552 percent jump in net profit.
read this also
Mutual Fund SIP: SIP investment in mutual funds hits new all-time high in October 2024, investment of Rs 25323 crore in October
