Mon Nov 11 12:47:49 UTC 2024: ## Niva Bupa Health Insurance IPO Oversubscribed, Trading Positive in Grey Market

**New Delhi, November 8, 2024:** The initial public offering (IPO) of Niva Bupa Health Insurance Limited has been met with strong investor interest, with the public issue oversubscribed by 1.68 times by the third day of bidding.

The IPO, which opened on November 7th and closes on November 11th, has seen strong demand across categories, with the retail portion subscribed 2.54 times, the NII segment at 0.65 times, and the QIB segment at 1.90 times.

The company’s shares are also trading positively in the grey market, with a Grey Market Premium (GMP) of ₹5. This indicates investor confidence in the company’s future prospects.

Despite a cautious approach in the broader market, the positive grey market sentiment suggests the Niva Bupa Health Insurance IPO is likely to be successful.

Analysts from Bajaj Capital and Canara Bank Securities have both assigned a “subscribe” tag to the IPO, citing the company’s strong financial performance and diversified channel mix.

Niva Bupa Health Insurance has reported a significant growth in Gross Written Premium (GWP) over the past three fiscal years, achieving ₹5607.57 crore in FY24.

While the company reported a loss in the first quarter of FY25, analysts attribute this to the typical sluggish first half of the financial year for insurance companies.

**Disclaimer:** The views and recommendations given in this article are those of individual analysts. This does not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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