Mon Nov 11 09:27:10 UTC 2024: ## Niva Bupa Health Insurance IPO Over-Subscribed, Crypto Market Update

**Mumbai, India -** Niva Bupa Health Insurance’s Initial Public Offering (IPO) has been met with strong investor interest, closing oversubscribed at 1.5 times on its final day of bidding. Investors subscribed for 26.4 crore shares against the 17.3 crore shares available, with retail individual investors (RIIs) demonstrating the highest enthusiasm at 2.2 times subscription. The Qualified Institutional Buyer (QIB) category saw a subscription of 1.8 times, while the non-institutional investor (NII) category saw a comparatively lower subscription rate of 53%.

The IPO, priced between Rs 70 to Rs 74 per share, raised a total of Rs 2,200 crore, consisting of a fresh issue of 10.81 crore shares worth Rs 800 crore and an offer for sale of 18.92 crore shares worth Rs 1,400 crore. Anchor investors had already invested Rs 990 crore in the IPO on November 6.

The allotment is expected to be finalized on November 12, with the tentative listing date set for November 14. ICICI Securities, Morgan Stanley India, Kotak Mahindra Capital, Axis Capital, HDFC Bank, and Motilal Oswal Investment Advisors are the book-running lead managers, while Kfin Technologies acts as the registrar for the issue.

Proceeds from the IPO will be used by Niva Bupa, a joint venture between the Bupa Group and Fettle Tone LLP, to strengthen its capital position and for general corporate purposes. The company has been operating in the Indian health insurance sector since 2008.

**Crypto Market Update:** Stay up-to-date on the latest crypto market trends, including top gainers and losers, with Moneycontrol’s live blog. Traders can also find information on the upcoming **India’s Largest Regional Retail Option Traders Summit (BOTS)** organized by Traders Gurukul. Held on the 2nd or 3rd Sunday of every month across major Indian cities, this event provides valuable insights for options traders.

**Disclaimer:** The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to consult with certified experts before making any investment decisions.

Read More