Thu Nov 07 06:47:29 UTC 2024: ## Niva Bupa Health Insurance IPO Opens with Subdued Interest

**Mumbai, India, Nov. 6, 2023** – Niva Bupa Health Insurance’s Initial Public Offering (IPO), set to open on Monday, November 7, has seen a subdued response from the market. The grey market premium (GMP), an unofficial indicator of investor interest, stands at zero, suggesting no expected listing gains.

The IPO, which aims to raise ₹2,200 crore, will be open for subscription until November 11. Shares are expected to list on the BSE and NSE on November 14.

The IPO price band has been fixed at ₹70 to ₹74 per share. Retail investors can apply for a minimum lot size of 200 shares, requiring an investment of ₹14,800.

Niva Bupa plans to utilize the funds raised for strengthening its capital base, improving solvency levels, and general corporate purposes.

Incorporated in 2008, Niva Bupa is a joint venture between the Bupa Group and Fettle Tone LLP. The company boasts a network of over 10,000 hospitals and has settled over 91.6% of claims.

Niva Bupa, formerly known as Max Bupa Health Insurance Co., is now India’s third-largest retail health insurer, having collected over ₹4,000 crore in written premiums in fiscal 2023.

**Investors are advised to consult with financial advisors and carefully review the red herring prospectus before making any investment decisions.**

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