The shares of Niva Bupa Well being Insurance coverage Firm Ltd debuted on the exchanges with a premium of about 6% on Thursday, November 14, 2024.
A hen flies previous a display displaying the Sensex outcomes on the facade of the Bombay Inventory Trade (BSE) constructing in Mumbai.(Reuters)
On the Bombay Inventory Trade (BSE), the corporate’s shares opened at ₹78.50, a 6.08% premium in comparison with the ₹74 provide worth, whereas it opened at ₹78.14 on the Nationwide Inventory Trade (NSE), a premium of 5.59%.
Nonetheless, it dipped into the crimson afterward, falling 3.44% to ₹75.80 on the BSE. It additionally fell 3.14% on the NSE to ₹75.69 as at 10:45 am IST.
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Niva Bupa Well being Insurance coverage Firm, previously generally known as Max Bupa Well being Insurance coverage Firm filed for a ₹2,200 crore preliminary public providing (IPO) which obtained subscribed 1.8 instances by day 3, with retail buyers displaying robust curiosity.
This makes Niva Bupa, the second standalone well being insurer to go for an IPO after Star Well being & Allied Insurance coverage Firm.
It additionally obtained ₹990 crore from anchor buyers earlier. It had a difficulty worth band of ₹70-74 per share.
The insurer has claimed it could utilise its IPO proceeds for enhancing its capital base to strengthen solvency ranges, and the remaining for common company functions.
It’s a three way partnership between the Bupa Group and Fettle Tone LLP. Bupa is a UK-based healthcare providers knowledgeable with seven a long time of expertise within the healthcare trade, serving a buyer base of fifty million in over 190 international locations, whereas Fettle Tone LLP is an entity managed and managed by True North, considered one of India’s largest home personal fairness funds, in accordance with the insurer’s web site.
Niva Bupa has community of over 10,000 hospitals throughout India, facilitating cashless declare processing in lower than half-hour.
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