Niva Bupa IPO Subscribed 65% On Day-1

New Delhi: The initial public offer of Niva Bupa Health Insurance Company Ltd, formerly Max Bupa Health Insurance Company, received a 65 per cent subscription on the first day of share sale on Thursday. The initial share sale received bids for 11,18,61,400 shares against 17,28,57,143 shares on offer, as per NSE data. The portion for qualified institutional buyers (QIBs) subscribed 79 per cent while the category for retail individual investors (RIIs) received 70 per cent subscription.

Non-institutional investors part fetched 33 per cent of subscriptions. Niva Bupa Health Insurance Company Ltd on Wednesday said it has mobilised Rs990 crore from anchor investors. The issue, with a price band of Rs 70-74 per share, will conclude on November 11. The Rs2,200-crore IPO is a combination of fresh issuance of equity shares worth Rs800 crore and an offer for sale of up to Rs1,400 crore by promoters.