Niva Bupa Health Insurance IPO sees tepid response on day 2 

Niva Bupa Health Insurance Company Limited’s initial public offering (IPO) witnessed a muted response on its second day, with an overall subscription of 0.71 times as of November 8, 2024, 11.36 AM.

The retail portion of the IPO emerged as the only fully subscribed category, receiving 1.02 times the shares reserved for retail individual investors (RIIs). Out of the total retail bids, approximately 91 per cent were placed at the cut-off price.

Qualified Institutional Buyers (QIBs) subscribed to 0.79 times their allocated portion, with Foreign Institutional Investors (FIIs) accounting for the majority of bids in this category. The Non-Institutional Investors (NIIs) showed lukewarm interest, with a subscription of 0.36 times.

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The company is offering 17,28,57,143 equity shares through this IPO, which opened on November 7 and will close on November 11, 2024. According to NSE data, the total bids received across all categories stood at 12,31,56,000 shares.

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The larger ticket size NII category (above ₹10 lakh) saw a subscription of 0.46 times, while the smaller ticket size (₹2-10 lakh) received only 0.15 times subscription. Individual investors dominated the NII category bids, with minimal participation from corporates.