Niva Bupa IPO Allotment Likely Today; Shares to List on November 14

Niva Bupa Health Insurance IPO has successfully concluded, with the bidding period ending on November 11. Now investors eagerly await the Niva Bupa Health Insurance IPO allotment, which is expected to be finalised today, November 13, 2024. 

Following the allotment, the shares will be credited to the demat accounts of successful applicants, and refunds will be initiated for unsuccessful bidders on the same day.

The shares are expected to be listed on BSE and NSE on Thursday, November 14, 2024. 

The Niva Bupa IPO was offered to the public at a price band ranging from ₹70 to ₹74 per share. It was a book-built issue of ₹2,200 crore. Investors can check their allotment status through the websites of BSE, NSE, or the official portal of IPO registrar Kfin Technologies.

The Niva Bupa Health Insurance IPO offered a total of 29,72,97,298 shares. Of these, 30% (8,91,89,190 shares) were allocated to Qualified Institutional Buyers (QIB), 15% (4,45,94,595 shares) to Non-Institutional Investors (NII), and 10% (2,97,29,730 shares) to Retail Individual Investors (RII). Additionally, 45% (13,37,83,783 shares) were reserved for Anchor Investors.

IPO Subscription Details and Utilisation of Proceeds

As of November 11, 2024, 7:00 PM, Niva Bupa Health Insurance IPO was subscribed 1x in total. The retail category saw a subscription of 0.83 times, while the QIB segment was subscribed 1.48 times. On the other hand, the NII segment saw a subscription at 0.16 times. 

The company intends to utilise the net proceeds from the IPO for two key purposes. The primary objective is to augment its capital base, which will help strengthen its solvency levels and for general corporate purposes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.