Niva Bupa IPO Day 2: Public Issue Fully Subscribed With 1.34x Retail Subscription; Check Price Band, GMP, And Listing Date

Niva Bupa Health Insurance Company on the second day of its bidding has drawn a considerable attention as it reached full subscription on the Day 2 itself. The IPO of the company began for subscription on November 7 and is scheduled to close its issue on November 11.

With a price band set between Rs 70 to Rs 74, the public issue has has piqued the interest of various investors.

The IPO offered 17.28 million equity shares, and by Day 2, bids had already crossed 20.27 million.

IPO Details - Subscription breakdown

The Retail investors' portion of the public offering was subscribed 1.34 times and the Qualified Institutional Buyers (QIBs) portion saw a subscription rate of 1.50 times.

The Non-Institutional Investors (NIIs) portion however lagged behind, with only 0.40 times subscription.

GMP Price

As of now, the grey market premium (GMP) for the Niva Bupa IPO is Rs 0, meaning the shares are trading at their issue price of Rs 74 with no premium or discount, according to investor gain.

The issue is expected to be listed on the Indian bourses on November 14.

Anchor Investors

Ahead of the IPO launch, the company secures Rs 990 crore from its anchor ivestors which included various participants from the foreign and domestic institutions such as Amansha Holdings, Zulia Investments, and Axis Mutual Fund, among others.

Key Players Behind the IPO

The IPO is being managed by prominent book-running lead managers, such as ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors.

KFin Technologies serves as the registrar for the offer.