Niva Bupa Shares Drop 2% Post Premium Listing

Niva Bupa shares update: On Thursday, after listing at a premium price, Niva Bupa Health Insurance Company shares fell 1.95% to Rs. 76.62 on NSE. The stock debuted at Rs. 78.14 on the National Stock Exchange and Rs. 78.50 on the Bombay Stock Exchange, marking a premium of 5.5%.

The IPO received a decent subscription of 1.9 times, but the current grey market premium (GMP) of Rs 1 or 1.35% expects a subdued market sentiment.

Niva Bupa, formerly known as Max Bupa Health Insurance Company, is a standalone health insurer to go to the public after Star Health & Allied Insurance Company.