Niva Bupa Health Insurance IPO - Day 1 Subscription at 0.56 Times!

Niva Bupa Health Insurance's initial public offering (IPO) has received moderate investor interest on its opening day. The IPO witnessed measured demand, resulting in a 0.56 times subscription by 2:17:12 PM on day one. This initial response indicates balanced market sentiment towards the company's shares.

Niva Bupa Health Insurance IPO, which opened on 7th November 2024, has seen varied participation across categories. The QIB segment has shown relatively better interest with 0.83 times subscription, while Retail Investors demonstrated decent participation at 0.58 times. The Non-Institutional Investors (NII) category has shown limited participation in the initial hours.

This response comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the health insurance sector.

Subscription Status of Niva Bupa Health Insurance IPO:

Here are the subscription details for Niva Bupa Health Insurance IPO as of Day 1 (7th November 2024, 2:17:12 PM):

Total Applications: 66,777

Note: Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. The portion of anchor investors is not included in the total shares offered.

Check Niva Bupa Health Insurance IPO Anchor Allocation at 45%

Key Highlights:

• Currently, the subscription reached 0.56 times on the opening day, showing a moderate initial response.
• QIB portion showed strong interest, with a subscription of 0.83 times.
• Retail investors demonstrated decent participation with 0.58 times subscription.
• Non-Institutional Investors (NII) showed limited interest, with a subscription of 0.03 times.
• Small Non-Institutional Investors (sNII) at 0.07 times versus bNII at 0.01 times.
• Total applications reached 66,777 on the first day.
• The subscription trend indicates balanced institutional participation but limited NII interest.

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About Niva Bupa Health Insurance Company Limited

Incorporated in 2008, Niva Bupa Health Insurance Company Limited is a joint venture between the Bupa Group and Fettle Tone LLP that provides insurance in the health sector. The company offers a holistic proposition by providing customers access to a comprehensive health ecosystem and service capabilities through its Niva Bupa Health mobile application and website.

The company's products are broadly categorized into retail products designed for individuals and families, and group products intended for employers and employees. 

The company has a strong technology focus with a telemarketing sales team of 410 employees that uses machine learning lead scoring, product recommendations, and a real-time CRM dashboard to engage customers and drive conversions. As of 31st March 2024, the company's technology function had 126 employees who focused on developing digital assets, software, and mobile applications.

The company's competitive strengths include a diverse product range to suit customer's needs, an automated approach to customer service driven by technology, Bupa parentage and brand associated with health insurance and healthcare, and expertise and experience in claims and provider management. 

Also, read Should You Consider Investing in Niva Bupa Health Insurance IPO

Highlights of the Niva Bupa Health Insurance IPO

• IPO opens: 7th November 2024
• IPO closes: 11th November 2024
• Allotment date: 12th November 2024
• Listing date: 14th November 2024
• IPO type: Book Built Issue
• IPO size: ₹2,200.00 crores
• Fresh Issue: ₹800.00 crores
• Offer for Sale: ₹1,400.00 crores
• Face value: ₹10 per share
• Price band: ₹70 to ₹74 per share
• Lot size: 200 shares
• Minimum investment for retail investors: ₹14,800
• Minimum investment for sNII: ₹207,200 (14 lots)
• Minimum investment for bNII: ₹1,006,400 (68 lots)
• Listing at: BSE, NSE
• Lead Managers: ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, Motilal Oswal
• Registrar: Kfin Technologies Limited