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- By Aditya Pratap Singh
- Thu, 14 Nov 2024 11:01 AM (IST)
- Source:JND
Niva Bupa Share Price: The shares of Niva Bupa Health Insurance debuted on stock exchanges with a minimal gain on Thursday. The shares are listed at Rs 78.14, with a premium of 5.5 per cent against the issue price of Rs 74 on NSE. While on BSE, Niva Bupa Health Insurance's share price started at Rs 78.5, up 6.08 per cent against the IPO's price band.
Niva Bupa Health Insurance raised Rs 2,200 crore through the initial share sale. The IPO was open for subscription between November 7 to November 11. The company had a fixed price range of Rs 70-74 per share for the initial share sales.
Also Read: Niva Bupa Share Price Makes Debut on Stock Market At 6% Premium Against IPO Price
Niva Bupa IPO Subscription Status
The initial public offering of Niva Bupa got decent bidding as it got 1.9 times the subscription against issue size. According to the exchange date, Niva Bupa IPO has received bids for 31.13 crore shares against 16.3 crore offered shares. The quota reserved for retail investor got 2.88 times subscription, while the non-institutional investors segment subscribed 0.71 times or 71%. The shares reserved for qualified institutional buyers (QIB) got 2.17 times subscription.
The Rs 2,200-crore IPO included a fresh issue of equity shares worth Rs 800 crore and an offer-for-sale of up to Rs 1,400 crore by the promoters. The company intends to use the net proceeds from the fresh issue towards increasing its capital base to strengthen its solvency level, and a portion of it will be used for general corporate purposes.