Niva Bupa Health Insurance Company Ltd. made a strong debut on November 14, with its shares listing at a 6% premium. The stock opened at Rs 78.14 on the NSE, marking a 5.59% gain from its IPO price of Rs 74. On the BSE, it debuted at Rs 78.50, offering a 6.08% premium to investors.
The company’s IPO, which had a price band of Rs 70-74 per share, received a positive response, getting subscribed 1.80 times by the close on Monday. Ahead of the IPO, Niva Bupa raised Rs 990 crore from anchor investors.
With the Rs 2,200-crore issue, Niva Bupa, formerly known as Max Bupa Health Insurance, aims to use the fresh capital to bolster its solvency margin and fund corporate activities. This IPO marks Niva Bupa as the second standalone health insurance player to go public, following Star Health & Allied Insurance.
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Source: Moneycontrol
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