Niva Bupa Shares List With 6% Premium

14 Nov 2024 , 09:57 AM

Shares of Niva Bupa Health Insurance debuted with a 6% premium on Dalal Street. On the NSE, shares opened at ₹78.14, up 5.59% from the issue price of ₹74, while on the BSE, they listed at ₹78.50, marking a 6.08% increase.

Niva Bupa Health Insurance’s IPO achieved a 1.8 times subscription by November 11, the third day of bidding. Investors placed bids for 31.13 crore shares compared to the 17.3 crore shares on offer. The retail individual investor (RII) segment was subscribed 2.73 times, and the qualified institutional buyer (QIB) portion saw a 2.06 times subscription. The non-institutional investor (NII) segment, however, had a lower demand with a 68% subscription rate.

The IPO, worth ₹2,200 crore, includes a fresh issue of ₹800 crore (10.81 crore shares) and an offer for sale (OFS) of ₹1,400 crore (18.92 crore shares). On November 6, anchor investors contributed ₹990 crore. The funds raised will strengthen Niva Bupa’s capital base and support general corporate needs.

The IPO was managed by ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors, with Kfin Technologies serving as the registrar.