Mumbai, Nov 14 Niva Bupa Health Insurance Company on Thursday made its public debut and its share settled 5.29 per cent lower at Rs 74 apiece on the NSE after listing at Rs 78.14.
The scrip listed at Rs 78.50 per share on BSE at a premium of 6.08 per cent, and closed at Rs 74 per share or 5.73 per cent down.
As per NSE, the total quantity traded stood at 388.58 lakh shares and on BSE, the total quantity stood at 28.87 lakh shares.
Total turnover on the stock exchanges on Day 1 stood at Rs 318.72 crore.
The market capitalisation of the company at the closing price stood at Rs 13,520 Crore as per the BSE and Rs 13,521.82 crore as per NSE.
The company had offered Rs 2,200 crore issue for subscription from November 7 to November 11. The offer was subscribed 1.90 times.
Qualified institutional buyer and non-institutional investors portion was subscribed 2.17 times and 0.71 times, respectively. Retail portion was subscribed 2.88 times.
A day before the opening of the issue, Niva Bupa Health Insurance Company raised Rs 990 crore from anchor investors.
Foreign and domestic institutions who participated in the anchor included Amansha Holdings, Zulia Investments, A91 Emerging Fund II LLP, Nippon Life, Tata Balance Advantage Fund, Axis Mutual Fund and Morgan Stanley Investment Fund, among others.
It is the country’s third largest and second fastest-growing standalone health insurance company (SAHI) based on overall health GDPI of Rs 54.94 billion in fiscal 2024, which grew at a CAGR of 41.37 per cent from fiscal 2022 to 2024, almost double of the industry’s average.
The company’s gross written premium (GWP) rose from Rs 2,809.97 crore in FY22 to Rs 5,607.57 crore in FY24. As of June 30, Niva Bupa insured 14.99 million lives.
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