Business Business: There is huge demand for the initial public offering (IPO) of health insurance company Niva Bupa Health Insurance Company Limited. On the second day on Friday, this IPO was oversubscribed 1.17 times. Niva Bupa received offers of 20,26,82,400 shares against the offer of 17,28,57,143 shares in the initial share sale. The qualified institutional buyer segment got 1.50 times and the retail investor segment got 1.34 times subscription. The non-institutional investor category got a subscription of 40 percent. We would like to inform you that Niva Bupa Health Insurance Company Limited has raised Rs 990 crore from anchor (large) investors.
According to websites tracking gray market activity, the gray market premium (GMP) for the Niva Bupa IPO was zero on the second day of subscription. This means that there was no change in the company’s shares in the gray market. Let us tell you that this company was earlier known as Max Bupa Health Insurance Company.
KFin Technologies is the registrar for this IPO and the underwriters are ICICI Securities Limited, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors.
Other brokerage firms including Swastik Investmart and Bajaj Broking have reviewed the Niva Bupa IPO and shared their views with investors. Market analysts generally recommend long-term subscription.
