Niva Bupa is a joint venture between the Bupa Group and Fettle Tone LLP that provides insurance in the health sector. The company offers a holistic proposition by providing customers access to a comprehensive health ecosystem and service capabilities through its Niva Bupa Health mobile application and website. The company opened the IPO for bidding on November 07 and will close the subscription on November 11. The company’s grey market premium slipped to null from Rs 3 to the issue price. The registrar of the company will finalise the allotment of the shares on November 12. Here’s a step-by-step guide to check the allotment status:

Step 1 

Open any search engine and go to the website of the registrar. Here, Kfin Technologies is working as the registrar.

Step 2

Now, hover over the ‘Products’ button and wait for a drop-down. After that, in the investors section click on the IPO allotment status. 

Step 3

Choose any one link from the provided five links.

Step 4 

Fill in your details: company’s name, account number/ D’mat account/ PAN number, and captcha number

Step 5

Hit the submit button and a screen will appear with the status of allotment. 

Listing

The listing of Niva Bupa Health Insurance will likely take place on November 14 on the NSE and BSE mainboard segments, as per the tentative schedule. 

Niva Bupa IPO Details

The company opened the IPO to raise Rs 2,200 crore from investors by offering them 29.73 crore shares through fresh sale and OFS. The company kept the IPO price band in a range of Rs 70 to Rs 74 per equity share.

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Minimum Investment

The minimum investment for a retail application is at least one lot of 200 Shares, amounting to Rs 14,800. The minimum lot size investment for small NIIs is 14 lots of 2,800 shares and for big NIIs, it is 68 lots of 13,600 shares.

Experts’ take on Niva Bupa

“If we annualize FY25 earnings to the post-IPO fully diluted equity base, the asking price results in a negative price-to-earnings (P/E) ratio. Based on FY24 earnings, the P/E ratio stands at 642.22. Consequently, the issue appears to be aggressively priced,” said Bajaj Broking in an IPO note. 

BRLMs

ICICI Securities, Morgan Stanley India Company, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors were the book-running lead managers of the Niva Bupa IPO.