Niva Bupa Health Insurance IPO opens tomorrow: Know these key things before subscribing

Business Business: Niva Bupa Health Insurance Company’s initial public offering (IPO) will open for public bidding on Thursday, November 7, and close on Monday, November 11. The health insurer has fixed a price band of ₹70-74 per share. The health insurance company, founded in 2008, is a joint venture between the Bupa Group and Fetal Tone LLP that offers customers access to a comprehensive healthcare ecosystem and service capabilities through its Niva Bupa Health mobile application and website.

1. Niva Bupa Health Insurance IPO Issue Size: The Delhi-based health insurer aims to raise ₹2,200 crore, comprising an offer for sale (OFS) of 18.92 crore shares worth ₹1,400 crore and a fresh issue of 10.81 crore shares worth ₹800 crore.
2. Niva Bupa Health Insurance IPO dates: The initial public offering will open for public subscription on Thursday, November 7 and close on Monday, November 11.
3. Niva Bupa Health Insurance IPO price band: The company has fixed its price band for the public issue in the range of ₹70 to ₹74 per share, with a lot size of 200 shares per lot. 4. Niva Bupa Health Insurance IPO listing date: The public issue is expected to be listed on the BSE and NSE indices on Thursday, November 14.
4. Niva Bupa Health Insurance IPO anchor round: The company held a round for its anchor investors subscribing to the public issue on Wednesday, November 6. The exchange will release the data later on Wednesday.6. Niva Bupa Health Insurance IPO sellers: Bupa Singapore Holdings Pte Ltd and Fetal Tone LLP are the two promoters selling their shareholding as the company lists itself on Dalal Street.

Bupa Singapore Holdings Private Limited is selling its 34.88 per cent stake, and Fetal Tone LLP is selling 15.57 per cent stake in the health insurer.

7. Niva Bupa Health Insurance IPO Reservation: As per the RHP data, of the total offer, at least 75 per cent will be allotted to the qualified institutional buyers (QIB) segment, followed by at least 15 per cent to the non-institutional investors (NII) segment and 10 per cent to retail investors.
8. Niva Bupa Health Insurance IPO Proceeds: The health insurer aims to use the funds raised from the IPO to increase its capital base and for general corporate purposes.
9. Niva Bupa Health Insurance IPO GMP: As of November 6, the grey market premium (GMP) for the IPO is zero. According to Investorgain.com, the shares are expected to list at ₹74 per share, at the upper limit of the price band.

Grey market premium is an investor’s willingness to pay more for a public issue.

10. Merchant Bankers and Registrars of Niva Bupa Health Insurance IPO: ICICI Securities Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited and Motilal Oswal Investment Advisors Limited are the book runners for the public issue, while KFin Technologies Limited is the registrar.