Niva Bupa Health Insurance IPO : Niva Bupa Health Insurance Company (formerly Max Bupa Health Insurance Company), IPO was listed on the stock exchange today.
The company’s shares were listed both on BSE as well as NSE. Shares of the company were listed today on BSE with a 7% discount at Rs 78.50.
The shares were also listed on the NSE at Rs 78.14, with a premium of 7%. Minutes after the company listed, its shares rose by 10% and reached a intraday high price of Rs 81.
Subscribe 1.80 times
In just three days, the IPO of Niva-Bupa Health Insurance Co. Limited was oversubscribed 1.80 times. NSE data shows that the NSE received bids of 31,13,62.800 shares compared to the 17,28,57.143 offered.
Retail individual investors (RIIs) received 2,73 times as much subscription while eligible institutional buyers (QIBs), received only 2.06 times.
The non-institutional investor share was subscribed at 68 percent. Niva Bupa Health Insurance Company Limited raised Rs 990 cr from anchor investors on Wednesday. The price range for the IPO is between Rs 70 and 74 per share.
What is detail?
This Rs 2,200 crore IPO is a combination of a new issue of equity worth Rs 800 crores, and a sales offer by the promoters of up to Rs 1,400 crores.
The company has reduced the size of its IPO. She originally planned to raise Rs. 3,000 crore. The shares of the company will be listed both on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
Quick Fact
| Company name | Niva Bupa Health Insurance |
|---|---|
| Previous name | Max Bupa Health Insurance |
| IPO oversubscribed | 1.80 times |
| Retail investors | 2.73 times subscription |
| Institutional investors | 2.06 times subscription |
| Non-institutional investors | 68% subscription |
| Raised from anchor investors | ₹990 crore |
| IPO price range | ₹70 – ₹74 per share |
| IPO total size | ₹2,200 crore |
| New issue equity | ₹800 crore |
| Promoter sales offer | ₹1,400 crore |
| Original IPO size | ₹3,000 crore |
| BSE listing discount | 7% at ₹78.50 |
| NSE listing premium | 7% at ₹78.14 |
| Intraday high after listing | ₹81 |
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