{"id":47595,"date":"2024-11-08T13:29:14","date_gmt":"2024-11-08T07:59:14","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=47595"},"modified":"2024-11-08T13:32:02","modified_gmt":"2024-11-08T08:02:02","slug":"niva-bupa-day-1-65-subscription-latest-gmp","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/niva-bupa-day-1-65-subscription-latest-gmp\/","title":{"rendered":"Niva Bupa IPO, 65% Subscription on Day 1 \u2013 Check Latest GMP, Subscription Status & More!"},"content":{"rendered":"
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Niva Bupa Health Insurance’s recent \u20b92,200 crore IPO has sparked significant interest among investors. With a strong first-day subscription of 65%, the market is buzzing with anticipation. Let’s look deeper into the details of this IPO and explore what it offers to potential investors.<\/p>\n\n\n\n

The Niva Bupa Health Insurance<\/a> IPO, launched on November 7, 2024, is open for subscription until November 11, 2024. This IPO, structured as a book-built issue, aims to raise \u20b92,200 crores by combining a fresh issue and an offer for sale (OFS) component. Specifically, the fresh issue consists of 10.81 crore shares valued at \u20b9800 crores, while the OFS includes 18.92 crore shares amounting to \u20b91,400 crores. <\/p>\n\n\n\n

Investors must apply for a minimum lot size of 200 shares, translating to a minimum retail investment of \u20b914,800. Meanwhile, the minimum investment required for small non-institutional investors (sNII) is set at \u20b9207,200 for 2,800 shares, and for big non-institutional investors (bNII), the minimum is \u20b91,006,400 for 13,600 shares. <\/p>\n\n\n\n

After the allocation, which is expected to be finalized by November 12, 2024, Niva Bupa\u2019s shares are slated to list on both the BSE<\/a> and NSE<\/a> on November 14, 2024.
Source: <\/em><\/strong>SEBI<\/em><\/strong><\/a><\/p>\n\n\n\n

Niva Bupa Health Insurance IPO<\/strong><\/h2>\n\n\n\n
Offer Price<\/td>\u20b970 to \u20b974 per share<\/td><\/tr>
Face Value<\/td>\u20b910 per share<\/td><\/tr>
Opening Date<\/td>7 November 2024<\/td><\/tr>
Closing Date<\/td>11 November 2024<\/td><\/tr>
Total Issue Size (in Shares)<\/td>297,297,297<\/td><\/tr>
Total Issue Size (in \u20b9)<\/td>\u20b92,200 Cr<\/td><\/tr>
Issue Type <\/td>Book Built Issue IPO<\/td><\/tr>
Lot Size<\/td>200 Shares<\/td><\/tr>
Listing at<\/td>BSE, NSE<\/td><\/tr><\/tbody><\/table>
Source: <\/strong>SEBI<\/strong><\/a><\/figcaption><\/figure>\n\n\n\n

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Subscription Status<\/strong> of Niva Bupa<\/h3>\n\n\n\n

The Niva Bupa Health Insurance IPO attracted solid attention on its opening day, achieving a 65% subscription. Investors bid for 11.19 crore shares against the 17.28 crore shares available. Here\u2019s how the different investor categories contributed on Day 1:<\/p>\n\n\n\n

Qualified Institutional Buyers (QIBs)<\/td>Subscribed at 79%<\/td><\/tr>
Non-Institutional Investors (HNIs)<\/td>Subscribed at 33%<\/td><\/tr>
Retail Investors<\/td>Subscribed at 71%<\/td><\/tr><\/tbody><\/table>
Source: <\/em><\/strong>Livemint<\/em><\/strong><\/a><\/figcaption><\/figure>\n\n\n\n

Objectives of the IPO<\/strong><\/h3>\n\n\n\n

The company aims to allocate the IPO proceeds to achieve two primary objectives:<\/p>\n\n\n\n

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  1. Augmentation of Capital Base<\/strong>: To strengthen the company\u2019s solvency levels, supporting its financial stability and long-term growth.<\/li>\n\n\n\n
  2. General Corporate Purposes<\/strong>: Funds may also be used for other corporate needs as determined by management.<\/li>\n<\/ol>\n\n\n\n

    Grey Market Premium (GMP)<\/strong><\/h3>\n\n\n\n

    The GMP for Niva Bupa Health Insurance IPO is currently \u20b90 (as of November 8, 2024). With the price cap at \u20b974, the estimated listing price is also expected to be around \u20b974, indicating no anticipated premium or discount. This stable GMP suggests market confidence in the company\u2019s valuation, though the premium could change in the days leading to listing based on demand. Source: <\/em><\/strong>Livemint<\/em><\/strong><\/a><\/p>\n\n\n\n

    Company Overview<\/strong><\/h3>\n\n\n\n

    Founded in 2008, Niva Bupa Health Insurance is a joint venture between Bupa Group and Fettle Tone LLP, established to serve the health insurance needs of individuals and families across India. With a strong focus on technology and customer service, the company\u2019s key offerings include:<\/p>\n\n\n\n