Niva Bupa Health Insurance IPO Subscription Details on Day 3

11 Nov 2024 , 01:08 PM

Niva Bupa Health Insurance IPO closes today, Monday.  At the time of writing on November 11, 2024 at 1:00 pm, the IPO has received an overall subscription of 1.46 times, whereas the Qualified Institutional Buyers (QIBs) subscribed 1.77 times, while Retail Individual Investors (RIIs) saw a 2.17 times subscription. The Non-Institutional Investors category was subscribed 0.52 times.

The price band for the IPO is set between ₹70-74 per share. The IPO, opened on November 7, includes a fresh issuance of ₹800 crore and an offer-for-sale of ₹1,400 crore from promoters.

Anchor investors mobilized ₹990 crore ahead of the public offer. The final allotment will be decided on November 12, with the listing date scheduled for November 14.

Promoters Bupa Singapore Holdings and Fettle Tone LLP are selling shares worth ₹350 crore and ₹1,050 crore, respectively. Promoter ownership: Bupa Singapore holds 62.19%, and Fettle Tone owns 26.80%.

India Business Excellence Fund IV is the largest public shareholder with a 2.81% stake. Niva Bupa holds 17.29% market share in India’s standalone health insurance market.

For FY 2024, Niva Bupa posted a net profit of ₹81.85 crore and GDPI of ₹5,494 crore. However, operating profit declined sharply to ₹188 crore in FY 2024. Losses for Q1 FY 2025 narrowed to ₹18.8 crore, compared to a ₹72.2 crore loss in Q1 FY 2024.