Niva Bupa IPO: The initial public offering of Niva Bupa Health Insurance Company Limited, formerly known as Max Bupa Health Insurance Company, began for public subscription today, Thursday, November 7 and will end on Monday, November 11. issue, price between 70-74 per share, increased Rs 990 crore raised from anchor investors on Wednesday, November 6.
IPO, rated Rs 2,200 crore includes value of fresh equity share issuance Rs 800 crore and a promoter offer for sale (OFS) amounting to Rs. 1,400 crores. Under OFS, Fatal Tone LLP set to sell shares in total 1,050 crore, while Bupa Singapore Holdings Pte Ltd plans to sell shares worth 350 crores.
The firm plans to use the net funds from the fresh issue to enhance its capital foundation to improve solvency, while a portion will be allocated for general corporate activities.
Niva Bupa IPO lot size is 200 equity shares and in multiples of 200 equity shares thereafter. Niva Bupa Health Insurance IPO has reserved at least 75% of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15% and not more than 10% for non-institutional institutional investors (NIIs). The offer is reserved for retail investors.
Niva Bupa Health Insurance Company strives to achieve this objective by providing health insurance options and services that assist customers in pursuing their healthcare journey, giving them access to a comprehensive health ecosystem.
Here are some of the key risks listed by the company in its red-herring prospectus (RHP):
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