The listing ceremony of the shares of Niva Bupa Health Insurance Company Limited took place on the National Stock Exchange.
Shares of Niva Bupa Health Insurance Company Limited listed today (November 14) at ₹78.5, up 6.08% from the issue price on the Bombay Stock Exchange (BSE). The shares listed at ₹78.14 on the Bombay Stock Exchange (BSE), 5.5% above the issue price. The company had kept the upper issue price of the IPO at ₹74 per share.
The IPO of private health insurer Niva Bupa Health Insurance was open for bidding from November 7 to November 11. The IPO was subscribed a total of 1.90 times in three trading days. It was subscribed 2.88 times in the retail category, 2.17 times in the Qualified Institutional Buyers (QIB) and 0.71 times in the Non-Institutional Investors (NII) category.
The issue of Niva Bupa Health Insurance was worth ₹2,200 crore.
This issue total of Niva Bupa Health Insurance was ₹ 2,200 crore. For this, Niva Bupa Health Insurance issued 108,108,108 fresh shares worth ₹800 crore. Whereas, the existing investors of the company sold 189,189,189 shares worth ₹ 1,400 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 2600 shares
Niva Bupa Health Insurance had fixed the price band of this issue at ₹70-₹74. Retail investors could bid for a minimum of one lot i.e. 200 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹ 74, you would have had to invest ₹ 14,800.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 2600 shares. For this, investors would have to invest ₹ 192,400 as per the upper price band.
10% of the issue was reserved for retail investors
The company had reserved 75% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 10% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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