Niva Bupa IPO: Raised ₹990 Crore From Anchor Investors

Niva Bupa Health Insurance Company Ltd has raised approximately ₹990 crore from anchor investors ahead of its upcoming Initial Public Offering (IPO), which is set to open for public subscription on Thursday, November 7, 2024. The company announced that it allocated 13,37,83,783 equity shares at ₹74 per share to a group of prominent anchor investors.

Anchor Investor Participation

The anchor investor round saw significant participation from both foreign and domestic institutions. Notable investors included Amansha Holdings, Zulia Investments, A91 Emerging Fund II LLP, Nippon Life, Tata Balance Advantage Fund, Axis Mutual Fund, and Morgan Stanley Investment Fund. A total of 32 anchor investors took part in the round, with six domestic mutual funds among them.

IPO Structure and Details

Niva Bupa IPO consists of a fresh issue of equity shares worth up to ₹800 crore and an offer for sale of up to ₹1,400 crore by the selling shareholders, Bupa Singapore Holdings Pte. Ltd and Fettle Tone LLP. The price band for the IPO is set between ₹70 and ₹74 per share, with the company aiming to raise ₹2,200 crore at the upper end of the price range.

Interested investors can place bids for a minimum of 200 shares, with further bids in multiples of 200. The offer will close on Monday, November 11, 2024. The IPO has a structured allocation: at least 75% of the shares are reserved for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and up to 10% for retail individual investors.

Book-Running Lead Managers and Registrar

ICICI Securities Limited, Morgan Stanley India Company Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, HDFC Bank Limited, and Motilal Oswal Investment Advisors Limited are serving as the book-running lead managers for the IPO. KFin Technologies Limited is acting as the registrar for the offering.

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.