Tue Nov 05 07:05:16 UTC 2024: ## Niva Bupa Health Insurance to Raise ₹2,200 Crore via IPO

**Mumbai, November 6, 2024:** Niva Bupa Health Insurance Company Limited, formerly known as Max Bupa Health Insurance, has announced its initial public offering (IPO) with a price band of ₹70-74 per share. The IPO, which opens on November 7th and closes on November 11th, aims to raise ₹2,200 crore. Anchor investors can bid on November 6th.

The IPO consists of a fresh issue of shares worth ₹800 crore and an offer for sale (OFS) of up to ₹1,400 crore by promoters. While the company initially planned to raise ₹3,000 crore, it has since reduced the issue size. Bupa Singapore Holdings Private Limited holds a 62.19% stake in the insurance company, while F&T Holdings LLP owns 26.8%.

One lot of the Niva Bupa IPO comprises 200 shares, costing ₹14,800. Retail investors can bid for a maximum of 13 lots, amounting to ₹192,400 for 2600 shares.

The IPO has reserved 75% for qualified institutional buyers (QIBs), 10% for retail investors, and 15% for non-institutional investors (NII). The allotment of shares is expected on November 12th, followed by refund processing on November 13th. Successful applicants will have their shares credited to their demat accounts on November 13th, with the shares expected to be listed on November 14th, 2024.

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