Niva Bupa Health Insurance IPO, Niva Bupa IPO GMP Updates November 11, 2024:Niva Bupa Health Insurance IPO, formerly Max Bupa Health Insurance Company, got subscribed 1.80 times on the closing day of share sale on Monday. The initial share sale got bids for 20,26,82,400 shares against 17,28,57,143 shares on offer, as per NSE data. Niva Bupa Health Insurance Company Ltd on Wednesday said it has mobilised Rs 990 crore from anchor investors.

Niva Bupa Health Insurance IPO: Should you subscribe?

Niva Bupa Health Insurance is the second standalone health insurance (SAHI) IPO in recent times after Star Health. The fast-growing company in a fast-growing segment does offer a strong proposition for investors for long-term growth. But the valuation is at a premium, which transfers the risk of growth to investors at the current levels. The company reported ₹82 crore PAT in FY24 and the upper band of IPO values it at ₹13,520 crore or 165 times PE, which is a premium to Star Health (33 times PE). The nascent operator with lower profitability has inflated PE multiples, but on a Price to book ratio is similar to the industry at 4.5 times its FY24 book value (Star Health 4.4 times). We recommend investors track the profitability expansion over the years before investing in the stock. The IPO has a fresh issue of ₹800 crore and OFS of ₹1,400 crore from promoters Bupa Singapore and Fettle Tone (True North).

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ALL UPDATES

  • November 11, 2024 16:28

    Niva Bupa IPO has been subscribed 1.79 times

    Niva Bupa IPO has been subscribed 1.79 times as at 4.24 pm on November 11, 2024. The QIB portion has been subscribed 2.06 times, NIIs 0.67 times, and retail portion booked 2.68 times.

  • November 11, 2024 15:58

    Niva Bupa IPO subscribed 1.78 times so far

    Niva Bupa IPO has been subscribed 1.78 times as at 3.51 pm on November 11, 2024. The QIB portion has been subscribed 2.06 times, NIIs 0.67 times, and retail portion booked 2.62 times.

  • November 11, 2024 15:29

    Niva Bupa IPO live: Booked 1.68x

    Niva Bupa IPO has been subscribed 1.68 times as at 3.24 pm on November 11, 2024. The QIB portion has been subscribed 1.90 times, NIIs 0.66 times, and retail portion booked 2.55 times.

  • November 11, 2024 15:05

    Niva Bupa IPO live: Subscribed 1.66x as at 3 pm

    QIB: 1.90 times

    NII: 0.62 times

    Retail: 2.49 times

    Total: 1.66 times

  • November 11, 2024 14:33

    Niva Bupa Health Insurance IPO subscription live: Subscribed 1.57 times as at 2.30 pm

    QIBs:1.80 times

    NIIs: 0.56 times

    Retail: 2.38 times

    Employee portion: Nil

  • November 11, 2024 14:32

    Niva Bupa IPO live: Subscribed 1.56 times as at 2.06 pm

    QIBs: 1.80 times

    NII: 0.55 times

    Retail: 2.53 times

    Total: 1.56 times

  • November 11, 2024 13:34

    Niva Bupa Health Insurance IPO subscription live: Subscribed 1.53 times as at 1.30 am

    QIBs:1.78 times

    NIIs: 0.53 times

    Retail: 2.24 times

    Employee portion: Nil

  • November 11, 2024 13:29

    Niva Bupa IPO live: Subscribed 1.52 times as at 1.24 pm

    QIBs: 1.78 times

    NII: 0.53 times

    Retail: 2.23 times

  • November 11, 2024 13:13

    Niva Bupa IPO subscribed 1.43x so far on final day

    The Initial Public Offering (IPO) of Niva Bupa Health Insurance Company has received bids for 24.72 crore shares against 17.28 crore shares on offer, reaching 1.43 times subscription by 12:45 pm on its final day, November 11, 2024.

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  • November 11, 2024 12:13

    Niva Bupa IPO live: Subscribed 1.38 times so far

    Niva Bupa Health Insurance Company has been subscribed 1.38 times as at 12.09 pm. QIBs booked 1.60 times, NIIs lukewarm at 0.50 times, and retail portion subscribed 2.05 times.

  • November 11, 2024 11:37

    Niva Bupa Health Insurance IPO subscription live: Subscribed 1.32 times as at 11.33 am

    QIBs: 1.54 times

    NIIs: 0.47 times

    Retail: 1.92 times

    Employee portion Nil

  • November 11, 2024 11:03

    Niva Bupa Health Insurance Company IPO subscribed 1.28 times so far

    Niva Bupa Health Insurance Company IPO has been subscribed 1.28 times as at 10.57 am. QIB portion has been subscribed 1.50 times, NIIs 0.46 times, and retail portion 1.82 times. The IPO closes today.

  • November 11, 2024 10:38

    Niva Bupa Health Insurance IPO subscription live: Subscribed 1.26 times as at 10.33 am

    QIBs: 1.50 times

    NIIs: 0.45 times

    Retail: 1.73 times

    Employee portion Nil

  • November 11, 2024 09:59

    Niva Bupa IPO gets 1.17 times subscription on day two of offer: PTI

    The initial public offer of Niva Bupa Health Insurance Company Ltd, formerly Max Bupa Health Insurance Company, received 1.17 times subscription on day two of the share sale on Friday.

    The initial share sale got bids for 20,26,82,400 shares against 17,28,57,143 shares on offer, as per NSE data.

    The category for qualified institutional buyers (QIBs) attracted 1.50 times subscription, while the quota for retail individual investors (RIIs) subscribed 1.34 times. The portion for non-institutional investors fetched 40 per cent subscription.

    Niva Bupa Health Insurance Company Ltd on Wednesday said it has mobilised Rs 990 crore from anchor investors.

    The issue, with a price band of Rs 70-74 per share, will conclude on November 11.

    The Rs 2,200-crore IPO is a combination of fresh issuance of equity shares worth Rs 800 crore and an offer for sale of up to Rs 1,400 crore by promoters. The company reduced the issue size as it was earlier looking to raise Rs 3,000 crore.

    Under the OFS, Fettle Tone LLP will sell shares to the tune of Rs 1,050 crore, and Bupa Singapore Holdings Pte Ltd will offload shares valued at Rs 350 crore.

    At present, Bupa Singapore Holdings Pte owns a 62.19 per cent stake, while Fettle Tone LLP holds a 26.8 per cent stake in the insurance firm.

    The company intends to utilise the net proceeds from the fresh issuance towards boosting its capital base to strengthen solvency levels, and a portion will be used for general corporate purposes.

    This will be the second standalone health insurer to float an IPO after Star Health & Allied Insurance Company.

    ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, HDFC Bank and Motilal Oswal Investment Advisors are the book-running lead managers to the offer.

    The equity shares are proposed to be listed on the BSE and NSE.

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