"Niva Bupa Health Insurance Co's IPO Witnesses Strong Subscriptions on Final Day"

Mumbai: Niva Bupa Health Insurance Co., one of the leading health insurance companies in India, witnessed strong subscriptions for its initial public offer (IPO) on Monday, its final day of bidding. The company's IPO was subscribed 1.8 times, with the retail investor category attracting 2.73 times the quota.

The qualified institutional buyers (QIBs), who are major investors from pension funds, insurance companies, and other financial institutions, subscribed to the offer at a rate of 2.06 times. In contrast, the non-institutional investor (HNI) category was underwhelming, with subscriptions at just 0.68 times.

The IPO was made up of two components: a fresh issue of ₹800 crore and an offer for sale of ₹1,400 crore by promoter Bupa Singapore Holdings and Fettle Tone LLP. The successful subscriptions indicate a strong demand among Indian investors for health insurance stocks.