New Delhi: The initial public offering (IPO) of Niva Bupa Health Insurance Company, which opened for public subscription on November 7, 2024, will close today, November 11, 2024. The Rs 2,200 crore offering, consisting of a fresh issue of 108.1 million shares and an offer for sale (OFS) of 189.2 million shares, has seen a good response from investors. As of 10:12 AM on Monday, the IPO was subscribed 1.17 times, according to NSE data.

Niva Bupa IPO: Category-Wise SubscriptionThe demand for the offering has been strong among Qualified Institutional Buyers (QIBs), who have subscribed 1.50 times their allotted portion. Retail Individual Investors (RIIs) have also shown significant interest, subscribing 1.54 times, while Non-Institutional Investors (NIIs) have bid 0.43 times their quota. Niva Bupa IPO: Price BandThe price band for the Niva Bupa IPO has been set at Rs 70-74 per share, with a minimum bid of 200 shares. The unlisted shares of Niva Bupa are currently trading at a premium of Rs 3, which translates to a grey market premium (GMP) of 4.03 per cent based on the upper price band of Rs 74. Niva Bupa IPO: Allotment And Listing DateThe basis of allotment for Niva Bupa IPO shares will be finalized by Tuesday, November 12, 2024. Successful applicants will have their shares credited to their demat accounts by Wednesday, November 13, 2024. The company’s shares are scheduled to make their debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Thursday, November 14, 2024.

Managers Of Niva Bupa IPOThe IPO is being managed by ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors as the book-running lead managers. Kfin Technologies is the registrar for the IPO. Should You Subscribe?"At the upper price band company is valued at P/BV of 6.1X with a market cap of Rs 1,35,200 million post issue of equity shares. We believe that the issue is fully priced and recommend “Subscribe – Long Term” rating to the IPO," said Shivam Gupta from Anand Rathi. What Is The Purpose Of IPO?Niva Bupa plans to use the proceeds from the fresh issue to strengthen its capital base and ensure it meets solvency requirements as per the regulations set by the Insurance Regulatory and Development Authority of India (IRDAI). The company offers a wide range of health insurance products and services, including digital consultations and diagnostics through its 'Niva Bupa Health' app and website.( Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)