Niva Bupa IPO Day 2: ₹2,200 crore issue fully subscribed, retail investors book 1.34x; check lot size and more

Niva Bupa IPO: The ₹2,200 crore initial public offering of Niva Bupa Health Insurance Company Ltd was fully subscribed on Friday, November 8, the second day of subscription.

The IPO, with a price range of ₹70-₹74 per share, got bids for 20,26,82,400 shares against 17,28,57,143 equity shares on offer, leading to a subscription of 1.17 times, as per the data on the NSE portal.

The bidding was led by retail investors, who subscribed to their portion 1.34 times. The qualified institutional buyers portion received 1.50 times subscription, while non-institutional investors category fetched 40% subscription.

Before the IPO, the health insurance firm had collected ₹990 crore from anchor investors.

The issue will close on November 11.

Niva Bupa IPO structure and objective

The public offer consists of a fresh issue worth ₹800 crore and an offer-for-sale of ₹1,400 crore by promoters. Under the OFS, Bupa Singapore Holdings Pte Ltd will sell shares valued at ₹350 crore, and Fettle Tone LLP will offload shares worth ₹1,050 crore.

The net money raised will be used to augment the company's capital base and serve general corporate purposes.

Axis Capital, ICICI Securities, HDFC Bank, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors and Morgan Stanley India Company are the book-running lead managers, while KFin Technologies Ltd is the offer's registrar.

Niva Bupa Health Insurance IPO: Allotment and listing date

• Bidding dates: November 7 to November 11
• Allotment finalisation: November 12
• Refund: November 13
• Demat transfer: November 13
• Listing: November 14

Niva Bupa Health Insurance IPO: Financials

Niva Bupa Health Insurance Ltd is one of the major health insurance companies in India. It offers healthcare solutions, including annual health check-ups and digital consultations.