Niva Bupa Health IPO opens on Nov 7: Check GMP, price band, dates, & more

Niva Bupa Health Insurance Company IPO: The initial public offering (IPO) of health insurance provider Niva Bupa Health Insurance Company is set to open for public subscription on Thursday, November 7, 2024. At the upper end of the price band, the company aims to raise Rs 2,200 crore through a book-built issue. Bidding for anchor investors is expected to take place on Wednesday, November 6, 2024.

 

Here are the key details of Niva Bupa Health Insurance IPO:

 

Niva Bupa Health Insurance IPO issue size

The public offering comprises a fresh issue of 108,108,108 shares and an offer for sale, with the promoters Bupa Singapore Holdings and Fettle Tone offloading 189,189,189 shares with a face value of Rs 10 apiece.

 

The Niva Bupa Health Insurance IPO will be available at a price band of Rs 70-74 per share, with a lot size of 200 shares. Investors can bid for a minimum of 200 shares and in multiples thereof. A retail investor would need a minimum of Rs 14,800 to bid for one lot of 200 shares.

 

Niva Bupa Health Insurance IPO grey market premium (GMP)

Meanwhile, unlisted shares of Niva Bupa Health Insurance Company were trading flat in the grey market on Monday, revealed sources tracking grey market activities.

 

Niva Bupa Health Insurance Company IPO allotment and listing date

The three-day subscription window for the Niva Bupa Health Insurance IPO will conclude on Monday, November 11, 2024. Following the closure of the IPO subscription, the basis of allotment of Niva Bupa Health Insurance IPO shares is likely to be finalised on Tuesday, November 12, 2024. The company's shares are expected to be credited to demat accounts on Wednesday, November 13, 2024, with a listing on BSE and NSE set for Thursday, November 14, 2024.

 

KFin Technologies is the registrar for the Niva Bupa Health Insurance Company IPO. The book-running lead managers include ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors.

 

Niva Bupa Health Insurance IPO objective

In the Red Herring Prospectus, the company stated that it proposes to utilise the Net Proceeds from the Fresh Issue, as per applicable IRDAI regulations, towards the augmentation of its capital base to maintain and strengthen its solvency levels by investing in instruments and in the manner prescribed under the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024.

 

Furthermore, the Net Proceeds are proposed to be deployed by Financial Year 2024-25 towards the augmentation of the Company’s capital base to maintain and strengthen its solvency levels.

 

About Niva Bupa Health Insurance Company

Niva Bupa Health Insurance, founded in 2008, is a joint venture between Bupa Group and Fettle Tone LLP. It offers comprehensive health insurance through its app and website. Its products include Retail (for individuals and families) and Group (for employers and employees) solutions. Niva Bupa provides a holistic health ecosystem with innovative solutions, driven by a customer-centric approach in its healthcare offerings.