Niva Bupa IPO Day 1: Issue subscribed 62% so far; check price band, lot size and key details

Niva Bupa IPO: The initial share sale of Niva Bupa Health Insurance Company Limited, formerly Max Bupa Health Insurance Company, opened for subscription on Thursday, November 7 and close on Monday, November 11. The price band for ₹2,200 crore IPO has been fixed at ₹70-₹74 per share.

The initial public offering consists of new equity shares worth ₹800 crore and an offer-for-sale (OFS) of ₹1,400 crore by promoters Fettle Tone LLP and Bupa Singapore Holdings Pte Ltd.

The net fresh issue proceeds will be used to boost the company's capital base to bolster the solvency level, and serve general corporate purposes.

On Wednesday, the health insurance firm collected ₹990 crore in the anchor round from investors such as Zulia Investments Pte, A91 Emerging Fund II LLP, Amansa Holdings, Morgan Stanley, Government Pension Fund Global, Fidelity, Nippon India Mutual Fund (MF), Tata MF, Axis MF and DSP MF.

Niva Bupa IPO: Subscription status

According to the NSE data, the issue has got bids for 10,67,32,200 equity shares against 17,28,57,143 shares on offer on day 2 so far.

Niva Bupa IPO: Lot size

The company has set aside 75% of the issue size for qualified institutional buyers (QIBs), 15% for non-institutional buyers or NIIs and 10% for retail investors.

Niva Bupa Health Insurance IPO: Allotment and listing date

• Subscription period: November 7 to November 11
• Allotment finalisation: November 12
• Initiation of refund: November 13
• Demat transfer: November 13
• Listing: November 14

Niva Bupa Health Insurance IPO: About the company

Niva Bupa Health Insurance Ltd is one of the largest standalone health insurance companies in India. The company offers health insurance products and services, including diagnostics, annual health check-ups, digital consultation, and health education content on its 'Niva Bupa Health' mobile app and website.

As of June 30, the company has a network of more than 200 branches across 22 states and four union territories (UTs). It has also insured nearly 15 million active lives.

ICICI Securities, Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital, Motilal Oswal Investment Advisors and HDFC Bank are the book-running lead managers to the offer.