Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Niva Bupa share price dips 3% after rising into the green on debut: IPO Details

The shares of Niva Bupa Health Insurance Company Ltd debuted on the exchanges with a premium of about 6% on Thursday, November 14, 2024.
On the Bombay Stock Exchange (BSE), the company’s shares opened at ₹78.50, a 6.08% premium compared to the ₹74 offer price, while it opened at ₹78.14 on the National Stock Exchange (NSE), a premium of 5.59%.
However, it dipped into the red later on, falling 3.44% to ₹75.80 on the BSE. It also fell 3.14% on the NSE to ₹75.69 as at 10:45 am IST.
Also Read: ‘To create 15,000 jobs’: Gautam Adani to invest $10 billion into US energy and infra, congratulates Donald Trump
Niva Bupa Health Insurance Company, formerly known as Max Bupa Health Insurance Company filed for a ₹2,200 crore initial public offering (IPO) which got subscribed 1.8 times by day 3, with retail investors showing strong interest.
This makes Niva Bupa, the second standalone health insurer to go for an IPO after Star Health & Allied Insurance Company.
Also Read: Europe’s richest man sues Elon Musk’s X over not paying for using his newspapers’ content: Report
It also got ₹990 crore from anchor investors earlier. It had an issue price band of ₹70-74 per share.
The insurer has claimed it would utilise its IPO proceeds for boosting its capital base to strengthen solvency levels, and the remaining for general corporate purposes.
It is a joint venture between the Bupa Group and Fettle Tone LLP. Bupa is a UK-based healthcare services expert with seven decades of experience in the healthcare industry, serving a customer base of 50 million in over 190 countries, while Fettle Tone LLP is an entity controlled and managed by True North, one of India’s largest domestic private equity funds, according to the insurer’s website.
Niva Bupa has network of over 10,000 hospitals across India, facilitating cashless claim processing in less than 30 minutes.
Also Read: How a 21-year-old made $3.1 million this year from a side hustle she started in her garage at 16

en_USEnglish