The Niva Bupa Health Insurance IPO continues to garner interest as it enters Day 2 of the subscription process. As of Day 2, the IPO has seen a 0.84x subscription, reflecting strong participation from investors eager to gain exposure to this significant player in the health insurance industry.

The IPO is a book-built issue aiming to raise ₹2,200.00 crores. It consists of a fresh issue of 10.81 crore shares, aggregating to ₹800.00 crores, along with an offer for sale (OFS) of 18.92 crore shares, amounting to ₹1,400.00 crores. The IPO opened on November 7, 2024, and will close on November 11, 2024, with a tentative listing date set for November 14, 2024 on both BSE and NSE.

Key Details of the IPO:

• IPO Size: ₹2,200.00 crores
• Fresh Issue: ₹800.00 crores (10.81 crore shares)
• Offer for Sale: ₹1,400.00 crores (18.92 crore shares)
• Price Band: ₹70 to ₹74 per share
• Minimum Lot Size: 200 shares (₹14,800 for retail investors)
• Bidding Opening Date: November 7, 2024
• Bidding Closing Date: November 11, 2024
• Listing Date: November 14, 2024
• Tentative Allotment Date: November 12, 2024

The minimum investment required for retail investors is ₹14,800, while Small and Non-Institutional Investors (sNII) must apply for a minimum of 2,800 shares (₹207,200), and Big Non-Institutional Investors (bNII) need to apply for 13,600 shares (₹1,006,400). The IPO is led by an impressive set of book running lead managers, including ICICI Securities, Morgan Stanley, Kotak Mahindra Capital, and others, with Kfin Technologies acting as the registrar.

Niva Bupa Health Insurance Overview:

Niva Bupa Health Insurance (formerly known as Max Bupa) is one of India's leading private health insurance providers, offering a wide range of health plans designed to meet the varied needs of customers. The company aims to expand its reach in the growing Indian healthcare and insurance market. With a strong customer base and a robust portfolio of products, Niva Bupa is well-positioned to capitalize on the increasing demand for health insurance in India.

Competitive Strengths:

• Strong brand recognition in the Indian market
• A wide range of health insurance products tailored to different segments
• A growing customer base and expanding distribution network

The Niva Bupa IPO offers investors a unique opportunity to invest in one of India's most trusted health insurers. With a competitive price band of ₹70 to ₹74 per share, the IPO has garnered good initial interest. As of Day 2, the 0.84x subscription indicates that investors are closely watching the subscription trends in the final days of the offering.

Subscription Trends:

As the IPO progresses towards its closing date, the subscription rate will be closely monitored. A steady 0.84x subscription as of Day 2 indicates positive momentum, and it will be interesting to see how the numbers evolve over the next few days. Investors should also keep an eye on the allotment process, which is expected to be finalized on November 12, 2024.

This IPO is a key opportunity for investors seeking exposure to the health insurance sector in India, a market that continues to grow as more people prioritize health coverage. With the listing date of November 14, 2024, just around the corner, this IPO could prove to be a lucrative addition to your portfolio. Keep track of the subscription status and other updates as the IPO period nears its conclusion.

The Upcoming IPOs in this week and coming weeks are Mangal Compusolution, Onyx Biotec, Rosmerta Digital, NTPC Green, Avanse Financial and Black Buck.

The Current active IPO are  Swiggy, ACME Solar Holdings, Niva Bupa Health and Neelam Lines and Garments.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.