Niva Bupa Health Insurance IPO: Day 3 Subscription Reaches 1.28 Times

Niva Bupa Health Insurance's initial public offering (IPO) has received strong investor interest over the three-day period. The IPO witnessed steady growth in demand, with subscription rates growing from 0.69 times on day one, to 1.24 times on day two, and reaching 1.28 times by 10:11 AM on day three.

Niva Bupa Health Insurance IPO, which opened on 7th November 2024, has seen robust participation across categories. The QIB portion maintained strong interest at 1.59 times subscription, while Retail Investors exceeded expectations with 1.62 times subscription. The Non-Institutional Investors (NII) category showed moderate participation at 0.45 times.

This positive 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:

*As of 10:11 AM

Here are the subscription details for Niva Bupa Health Insurance IPO as of Day 3 (11th November 2024, 10:11 AM):
 

Total Applications: 1,91,976

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:

• Overall subscription improved further to 1.28 times, demonstrating sustained investor confidence
• Retail investors led with strong 1.62 times subscription, showing robust individual participation
• QIB portion maintained strong momentum at 1.59 times subscription
• Non-Institutional Investors (NII) showed modest improvement, reaching 0.45 times subscription
• Large Non-Institutional Investors (bNII) at 0.53 times versus sNII at 0.29 times
• Total applications reached 1,91,976
• The subscription trend indicates strong retail and institutional confidence

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Niva Bupa Health Insurance IPO - Day 2 Subscription at 1.24 Times

Key Highlights:

• Overall subscription surpassed full subscription at 1.24 times, showing strong investor confidence
• QIB portion led with robust 1.59 times subscription indicating strong institutional interest
• Retail investors showed significant participation with 1.43 times subscription
• Non-Institutional Investors (NII) demonstrated improved interest with 0.42 times subscription
• Large Non-Institutional Investors (bNII) showed better response compared to sNII portion
• The subscription trend indicated growing momentum across most investor categories

Niva Bupa Health Insurance IPO - Day 1 Subscription at 0.69 Times

Key Highlights:

• Overall subscription reached 0.69 times on opening day, showing decent initial response.
• QIB portion showed strong interest with 0.83 times subscription.
• Retail investors demonstrated good participation with 0.76 times subscription.
• Non-Institutional Investors (NII) showed moderate interest with 0.35 times subscription.
• Total applications showed healthy first-day participation.
• The subscription trend indicated balanced institutional and retail interest.

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