| Niva Bupa Health Insurance IPO GMP | Niva Bupa Health Insurance IPO Allotment Status |
Niva Bupa IPO subscription starts on 7 November 2024 and will close on 11 November 2024. Niva Bupa Health Insurance plans to raise around INR 2,200 crores via the IPO. The price band is fixed at INR 70 – 74 per share. Niva Bupa IPO market lot has 200 shares, and the minimum application amount is INR 14,800. The retail quota is 10%, QIB is 75%, and NII is 15%.
Check Niva Bupa IPO Subscription Status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find Niva Bupa IPO Subscription Status segregated by days and investor categories.
Niva Bupa IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 9,42,85,715 | 4,71,42,857 | 3,14,28,571 | 17,28,57,143 |
| 11 Nov 2024 | 2.06 | 0.67 | 2.72 | 1.80 |
| 8 Nov 2024 | 1.50 | 0.40 | 1.34 | 1.17 |
| 7 Nov 2024 | 0.79 | 0.33 | 0.71 | 0.65 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Niva Bupa Health Insurance – Business Background
Niva Bupa Health Insurance, previously known as Max Bupa, is a prominent player in the Indian health insurance market. Established in 2008 as a joint venture between the Bupa Group and Fettle Tone LLP, a special purpose vehicle of the private equity firm True North, Niva Bupa has evolved into India’s third-largest retail health insurer. The company provides a comprehensive range of health insurance products, including individual and family plans, as well as group insurance solutions for employers.
With a strong focus on customer service, Niva Bupa boasts a network of over 10,000 hospitals and has achieved a claims settlement ratio of approximately 91.6%. In its latest financial year, Niva Bupa reported revenues of INR 3,811.25 crore and a significant increase in profit after tax to INR 81.85 crore, reflecting its robust growth trajectory despite the competitive landscape of the health insurance sector.
The company had 14.73 million active lives insured as of 31 March 2024. It is strategically focused on the retail health market and its GWP from retail health products was 68.47% of overall GWP for FY 2024.
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Investor Categories in Niva Bupa IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of Niva Bupa Health Insurance IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. If the IPO-bound company does not fulfill this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Niva Bupa IPO Subscription Status FAQs
When will the Niva Bupa IPO subscription start?
Niva Bupa IPO subscription starts on 7 November and ends on 11 November 2024.
How to subscribe to Niva Bupa Health Insurance IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Niva Bupa IPO be listed?
Niva Bupa Health Insurance IPO will be listed on 14 November 2024, at the BSE and NSE stock exchanges.
