FOREX
Niva Bupa IPO subscribed 1.43x by midday 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.
The retail individual investors’ portion currently leads the subscription status at 2.14 times, with bids for 6.71 crore shares. The majority of retail investors, accounting for 6.03 crore shares, have opted for the cut-off price.
Qualified Institutional Buyers (QIBs) have subscribed 1.65 times their allocated portion, with Foreign Institutional Investors (FIIs) dominating the institutional category with bids for 12.66 crore shares. Mutual funds and other institutions have bid for 1.09 crore and 1.81 crore shares, respectively.
The Non-Institutional Investors (NIIs) segment remains undersubscribed at 0.52 times. Within this category, investors bidding for more than ₹10 lakh have achieved 0.55 times subscription, while those bidding between ₹2-10 lakh have registered 0.45 times subscription.
The IPO, which opened on November 7, will close today. Investors can continue to place their bids through registered brokers until closing time.
