Mon Nov 11 06:23:20 UTC 2024: ## Niva Bupa Health Insurance to launch IPO on November 7th

**New Delhi, November 4th** – Niva Bupa Health Insurance Limited is all set to launch its Initial Public Offering (IPO) on November 7th, 2024. The IPO will open for investors on Thursday, November 7th, with the company setting the price band at ₹70-74 per equity share.

According to a statement released by the company on Monday, the IPO will open on November 7th and will close on November 11th, 2024. Anchor investors will be able to bid a day before the IPO opens on November 6th. The company aims to raise ₹2,200 crore through this IPO.

Investors can bid for a minimum of 200 equity shares and in multiples of 200 equity shares thereafter. The IPO is a mix of fresh issuance of up to ₹800 crore and an Offer for Sale (OFS) of up to ₹1,400 crore by Bupa Singapore Holdings Private Limited and Fatal Tone LLP. The company will utilize the proceeds from the fresh issuance to augment its capital base, maintain and strengthen solvency levels, and for general corporate purposes up to ₹1,500 crore.

Niva Bupa Health Insurance Limited, established in 2008 and headquartered in New Delhi, is India’s third-largest and second-fastest growing SAHAI based on overall health GDPI of ₹54.94 billion in FY 2023-24. The company utilizes machine learning-based algorithms and logistic regression models to identify fraudulent claims.

**Note:** This news article was compiled from the provided text. It is important to note that the source text is in Hindi and the translated version may not be entirely accurate.

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