Niva Bupa IPO Day 2: Subscription hits 71%; GMP stays flat; invest or wait?

Niva Bupa Health Insurance IPO: Health insurance services provider Niva Bupa Health Insurance has received a decent response from investors for its initial public offering (IPO), which opened for subscription on Thursday, November 7, 2024. The latest data from the National Stock Exchange (NSE) shows that the public issue received bids for 12,20,70,400 shares against 17,28,57,143 offered, resulting in a subscription of 0.71 times as of 11:15 AM on Friday, November 8, 2024.

 

In the Niva Bupa IPO, Retail Individual Investors (RIIs) have placed the highest bids, fully subscribing to the quota reserved for their category, with bids for 3,15,05,400 shares against 3,14,28,571 offered. This is followed by Qualified Institutional Buyers (QIBs), who subscribed 0.79 times, and Non-Institutional Investors (NIIs) at 0.35 times.

 

 

The Niva Bupa IPO is 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. 

Meanwhile, the grey market premium (GMP) for Niva Bupa IPO remained nil on the second day of subscription, with the company's shares trading flat in the grey market, according to sources tracking grey market activity.

 

The three-day subscription window for the public offering of Niva Bupa will close on Monday, November 11, 2024. Following this, the basis of allotment for Niva Bupa IPO shares is expected to be finalised on Tuesday, November 12, 2024, and the shares are expected to be credited to demat accounts on Wednesday, November 13, 2024.

 

Shares of Niva Bupa are slated to make their market debut on Thursday, November 14, 2024, and will list on the BSE and NSE.

 

Kfin Technologies is the registrar for the issue, while the book-running lead managers include ICICI Securities Limited, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors.

  Should you subscribe to the Niva Bupa IPO?

Brokerages including Anand Rathi Research Team, Swastika Investmart, and Bajaj Broking have reviewed the public offering of Niva Bupa and shared their outlook for investors. Market analysts have broadly recommended subscribing to the public issue from a long-term perspective. READ MORE 

Niva Bupa Health Insurance Company Ltd is a joint venture between Bupa Group, a UK-based healthcare services provider with 70 years of experience, and Fettle Tone LLP, managed by True North, a leading Indian private equity fund. Incorporated in 2008, the company provides comprehensive health insurance solutions to individuals, families, employers, and employees.