Niva Bupa Health Insurance Limited has announced the price range for its upcoming initial public offering (IPO). The company, a joint venture between the Bupa Group and Fettle Tone LLP, has set the IPO price band at ₹70 to ₹74 per share. The IPO will open for subscription in the Indian primary market on November 7, 2024, and will close on November 11, 2024.
The company aims to raise ₹2,200 crore through this IPO, with ₹800 crore designated for issuing new shares and ₹1,400 crore through the Offer for Sale (OFS) route.
Key Details of Niva Bupa Health Insurance IPO:
- Price Band: The IPO price band is fixed at ₹70 to ₹74 per equity share.
- Subscription Dates: The public issue will be open from November 7 to November 11, 2024.
- Grey Market Premium (GMP): Currently, the shares are trading at par in the grey market, with the GMP reported as zero today.
- IPO Size: Niva Bupa aims to raise a total of ₹2,200 crore, which includes ₹800 crore from fresh share issues and ₹1,400 crore from the OFS.
- Allotment Date: Shares are expected to be allotted on November 12, 2024.
- Anchor Allotment: The public issue will open for anchor investors on November 6, 2024.
- Lot Size: Investors can apply in lots, with one lot consisting of 200 shares.
- Listing Details: The shares will be listed on both the BSE and NSE.
- Listing Date: The expected date for the share listing is November 14, 2024.
- Company Performance: In FY24, Niva Bupa reported a significant increase in revenue, growing by over 44% year-on-year, and a remarkable 550% increase in profit after tax (PAT).
This IPO represents a notable opportunity for investors looking to enter the growing insurance and healthcare sector in India.
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