1 week ago
Niva Bupa Health Insurance Company Ltd., formerly known as Max Bupa Health Insurance Company, is set to finalise the allotment of its initial public offering (IPO) on Tuesday, November 12. The company is expected to debut on the BSE and Stock Exchange (NSE) on November 14.
The ₹2,200 crore IPO, open for subscription from November 7 to 11, received a decent response from investors, with an overall subscription rate of 1.80 times within a price band of ₹70 to ₹74 per share.
Niva Bupa IPO generated significant interest, particularly among retail investors, who subscribed to their allotted portion 2.73 times over. Qualified Institutional Buyers (QIBs) showed solid support with a subscription rate of 2.06 times, while Non-Institutional Investors (NIIs) subscribed at 68%. Given the decent demand, the IPO allotment is anticipated to be competitive.
How to check Niva Bupa IPO allotment status
Once the allotment process is complete, investors can check their status through the BSE website or the registrar, KFin Technologies. Here’s a guide on how to access allotment details:
On the BSE Website:
1. Visit the BSE IPO allotment status page
2. Select 'Equity' as the issue type.
3. Choose 'Niva Bupa Health Insurance Company' from the drop-down menu.
4. Enter your IPO application number or PAN.
5. Click 'Search' to view your allotment status.
On the Registrar's Website - KFin Technologies:
1. Visit KFin Technologies' website.
2. Select 'Niva Bupa Health Insurance Company' from the list of IPOs.
3. Choose your identifier (PAN, Application Number, DP/Client ID, or Account No/IFSC).
4. Enter the relevant details and click 'Submit.'
Further, investors can check the allotment status online via the NSE’s website.
Investors can expect the allotment status to be available shortly after the process is finalised. Successful applicants will see the allotted shares credited to their demat accounts, while refunds will be processed for those who did not receive an allotment.
Niva Bupa IPO Details
Ahead of the IPO launch, Niva Bupa raised ₹990 crore from anchor investors, which included prominent domestic and foreign institutions. The offering comprised a fresh issue of equity shares worth ₹800 crore and an offer for sale amounting to ₹1,400 crore.
The company plans to use the net proceeds from the fresh issue to bolster its capital reserves, which will help strengthen its solvency position. A portion of the funds will also be used for general corporate purposes.
Niva Bupa Health Insurance ranks among the largest standalone health insurers (SAHI) in India.
