New Delhi: Niva Bupa Health Insurance Company Ltd, formerly Max Bupa Health Insurance Company, raised as much as Rs 990 crore from anchor investors on November 6, a day before its IPO was thrown open for bidding to the public. Institutions, both domestic and foreign, picked up shares at a price of Rs 74 apiece. Among the anchor investors were Morgan Stanley, Fidelity and Government Pension Fund Global, Zulia Investments Pte and Amansa Holdings. Axis MF, Tata MF and Nippon India Mutual Fund also picked up shares.

Niva Bupa Health Insurance Company was set up in 2008. As the name itself implies, the company is in the health insurance business and offers comprehensive health insurance through its mobile application and website. The policies of Niva Bupa include those for individuals/families and for business employees. At the end of FY24, it was active in 22 states and 4 union territories of the country and had as many as 14.73 million lives insured.

Niva Bupa IPO price band, allotment

The Niva Bupa Health Insurance IPO is designed to mop up Rs 2,200 crores which has 2 components – a fresh issue part worth Rs 800 crores and an OFS (offer for sale) worth Rs 1,400 crores. Niva Bupa Health Insurance IPO opens for bidding on Thursday, November 7. The process of application for subscription will end on Monday, November 11. Niva Bupa Health Insurance shares are supposed to be allotted on November 12, while the listing of Niva Bupa Health Insurance will take place on November 14, 2024.

Niva Bupa Health Insurance IPO GMP

The price of each Niva Bupa Health Insurance share has been set at Rs 70-74. A minimum lot for a retail investor is 200 shares, which carries a price of Rs 14,800. The Niva Bupa Health Insurance IPO GMP as recorded on the morning of November 7, 2024, was Nil. According to InvestorGainthe GMP failed to take off from Rs 0 since October 31. Considering the price of a share as Rs 74, it is supposed to be listed at that price only. However, it must be remembered that GMP (Grey Market Premium) is an unofficial estimate that can, and does, change with time. But it does not guarantee anything – listing gain or listing loss.

(This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO or mutual funds.)