Niva Bupa Health Insurance Company
Book Building issueMainboardNSE₹2,200 Cr issue
+6.08%
Listing gain over issue price
Issue size
₹2,200 Cr
1 lot at cut-off
₹14,800
Lot size
200shares
Open
07 Nov 2024
Close
11 Nov 2024
Allotment
12 Nov 2024
Listing
14 Nov 2024
Listing performance
Issue price
₹74
Listed at
₹78.50
Listing-day close
₹74
Latest price
₹71.93
Close on 23 Oct 2026
Listing gain
+6.08%
Return since issue
-2.80%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Nov 2024 – 11 Nov 2024
- Listing date
- 14 Nov 2024
- Face value
- ₹10 per share
- Issue price
- ₹74 per share
- Lot size
- 200 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹2,200 Cr
- Market cap at offer price
- ₹13,381 Cr
- Promoter holding
- 88.98% → 73.37% pre-issue → post-issue
- ISIN
- INE995S01015
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- ICICI Securities Ltd.
- Registered office
- C-98, 1st Floor, Lajpat Nagar, Part 1, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 13,37,83,783 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 200 shares per lot, in multiples, at ₹74
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 200 | ₹14,800 |
| Retail (max) | 13 | 2,600 | ₹1,92,400 |
| S-HNI (min) | 14 | 2,800 | ₹2,07,200 |
| S-HNI (max) | 67 | 13,400 | ₹9,91,600 |
| B-HNI (min) | 68 | 13,600 | ₹10,06,400 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
13,37,83,783
Anchor portion
₹990 Cr
at ₹74 per share
Valuation and performance
Valuation at offer price
₹74 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 0.48 | −0.42 |
| P/E (×) | 154.17 | — |
| Price to book (×) | 6.14 | — |
| Market cap | — | ₹13,381 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- −0.92%
- Debt / equity
- 0.12
- NAV per share
- ₹12.06
- Price to book
- 6.14
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance Limited) is a health insurance company incorporated in India in 2008. It is one of India's largest and fastest-growing standalone health insurers (SAHIs) based on overall health insurance gross direct premium income of ₹54,944.28 million in Fiscal 2024, with 41.37% growth from Fiscals 2022 to 2024. The company strategically focuses on the retail health market and offers personal accident and travel insurance products. It generates revenue through premiums on health, personal accident, and travel insurance products, distributed through multiple channels including individual agents, corporate agents, brokers, banks, and online channels.
Company Analysis
from RHPNiva Bupa is a standalone health insurer focused on India's retail health insurance market, also offering personal accident and travel insurance.
Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance Limited) is a health insurance company incorporated in India in 2008. It is one of India's largest and fastest-growing standalone health insurers (SAHIs) based on overall health insurance gross direct premium income of ₹54,944.28 million in Fiscal 2024, with 41.37% growth from Fiscals 2022 to 2024. The company strategically focuses on the retail health market and offers personal accident and travel insurance products. It generates revenue through premiums on health, personal accident, and travel insurance products, distributed through multiple channels including individual agents, corporate agents, brokers, banks, and online channels.
health insurancepersonal accident insurancetravel insurance
Objects of the Issue
- Augmentation of capital base to maintain and strengthen solvency levels ₹8,000.00 million p.20
- Augmentation of capital base to maintain and strengthen solvency levels ₹8,000.00 million (Fresh Issue) p.71
- Augmentation of capital base to maintain and strengthen solvency levels ₹8,000.00 million (Gross proceeds of Fresh Issue) p.122
Issue Structure
- Total Issue
- Up to ₹22,000.00 million
- Fresh Issue
- Up to ₹8,000.00 million
- Offer for Sale
- Up to ₹14,000.00 million (₹3,500.00 million by Bupa Singapore Holdings Pte. Ltd. and ₹10,500.00 million by Fettle Tone LLP)
- Face Value
- ₹10 per equity share
Business Model
The company earns revenue through premiums on health insurance, personal accident, and travel insurance products. It prices products based on assumptions about medical expenses and claims frequency. The company cedes a portion of risks to reinsurers and settles claims through both cashless settlements with network hospitals and reimbursement claims. For Fiscal 2024, health insurance comprised 97.98% of gross direct premium, personal accident 1.65%, and travel 0.37%.
Business Segments
Retail health insurance products covering medical expenses and hospitalization
Personal accident insurance products
Travel insurance products
Retail health insurance policies offered to individual customers. Retail health accounted for 67.65% of total health GWP for the three months ended June 30, 2024.
Group health products including employer-employee group products customized for employers and affinity-based group products for non-employer-employee groups including customers of banks and other corporate agent distributors. Includes SME and non-SME employer-employee products and affinity-based products.
Personal accident insurance coverage.
Travel insurance products.
Provides health insurance products to retail customers through various distribution channels
Provides health insurance coverage to individuals and groups, including retail and group health insurance products
Health insurance coverage offered to individuals and families purchased directly
Health insurance coverage provided to groups of individuals, typically employees of companies
Insurance coverage for personal accidents
Insurance coverage for travel-related risks
Individual and family health insurance products with diverse offerings targeting various customer groups by age, health status, and socio-economic status
Group health insurance products offered to employers, employees, and third parties such as customers of banks and corporate agents
Benefit-based personal accident products offered to retail and group customers
Travel insurance products comprising indemnity-based and benefit-based products with travel inconvenience benefits, offered to retail and group customers for domestic and international travel
Provision of indemnity and benefit-based health insurance products including out-patient treatment, day-care treatment, in-patient medical treatment, domiciliary care, pre and post hospital care, critical illness insurance, and travel insurance
Health insurance underwriting business covering health, critical illness and related benefits
Personal accident insurance underwriting business
Travel insurance underwriting business
Provides health insurance products including retail health indemnity policies and group health insurance products to customers.
Provides personal accident insurance coverage.
Provides travel insurance products.
Provides retail and group health insurance policies covering hospitalization, medical expenses and related health benefits, including products like Health Plus, Health Companion, Quick Health, ReAssure, and numerous others.
Provides personal accident insurance coverage including group personal accident plans.
Provides travel insurance products including overseas travel and domestic travel coverage.
SWOT Analysis
Strengths
- • Leading market position among standalone health insurers with strong growth trajectory(p.14)
- • Competitive claims ratios better than industry average(p.32)
- • Established and extensive network hospital partnerships enabling cashless claims(p.43)
- • Diversified multi-channel distribution network(p.37)
- • Strong capital base with successful fundraising(p.20)
- • Strong network hospital relationships enabling cost management(p.43)
- • Rapid growth in group health insurance segment(p.43)
- • High digital penetration in customer onboarding(p.44)
- • Robust fraud detection technology(p.53)
- • Maintained required solvency levels consistently(p.46)
- • One of India's largest and fastest-growing standalone health insurers based on health GDPI(p.123)
- • High GWP growth significantly outpacing industry averages(p.123)
- • Strong solvency position supporting future growth(p.123)
- • Granular retail health insurer with diverse product suite and track record for product innovation(p.128)
- • Multi-channel diversified distribution network across India(p.128)
- • Bupa brand association and domain expertise in health insurance(p.128)
- • Fastest-growing SAHI with 41.27% CAGR in overall health GDPI (FY22-24), nearly double industry average(p.192)
- • Lowest health claims ratio among all SAHIs and peer insurers at 59.43% in FY24, signaling superior underwriting and fraud detection(p.182)
- • Majority-owned by Bupa, a global healthcare group serving 50+ million customers; only health insurer in India majority controlled by foreign global healthcare group(p.193)
- • Best-in-class claims settlement capability with 91.93% claims settlement ratio and 88.41% of cashless claims approved in under 30 minutes (Q3 FY25)(p.195)
- • Extensive retail-focused distribution with 152,436 individual agents (18.62% CAGR) and 77 corporate agents including major banks like HDFC Bank and Axis Bank(p.195)
- • Strong combined ratio of 98.76% in FY24, third-best among competitors, with improving trend from 107.41% in FY22(p.183)
- • Digital-first approach with 99.94% of new policies applied digitally (Q3 FY25) and advanced ML-based fraud detection reducing investigation referrals(p.195)
- • Extensive network of 10,426 hospitals (as of June 30, 2024) including 329 premium partner network (PPN) hospitals with special arrangements(p.195)
- • Third largest SAHI with 41.37% CAGR (FY22-24)(p.197)
- • High-LTV customer focus: 73.66% of new retail policies have sum insured ≥₹1 million(p.196)
- • Strong claims ratio management at 59.02% (FY24), lowest among SAHIs(p.205)
- • Industry-leading digital policy origination: 99.95% of new policies applied digitally (FY24)(p.200)
- • Auto-underwriting capability: 51.81% of retail policies auto-decisioned without human intervention (FY24)(p.200)
- • Bupa parentage provides access to international healthcare experience and best practices(p.205)
- • Diversified distribution: direct sales, agents (29.71% GWP), corporate agents (28%), brokers (28.19%)(p.207)
- • In-house claims processing with fraud detection: 100% of FY24 retail claims processed in-house(p.205)
- • Established health insurance business with general insurance capability(p.259)
- • Strategic ownership by global healthcare leader with international presence(p.260)
- • Access to BUPA trademark and brand in India(p.263)
- • Professional management by globally experienced leadership team(p.269)
- • Strong GWP growth trajectory(p.388)
- • High retail health focus with superior economics(p.397)
- • Diversified distribution reducing concentration risk(p.397)
- • Technology-enabled cost structure(p.397)
- • Diversified product portfolio with 35+ approved products and add-ons(p.411)
- • Strong premium growth across all business lines(p.415)
- • Expanding distribution network through multiple channels(p.415)
- • Technology-enabled operational model with e-agency platform(p.419)
- • Growing investment portfolio and assets under management(p.421)
Weaknesses
- • Significant debit balance in profit and loss account indicating accumulated losses(p.39)
- • Dependency on limited number of major corporate agents/banks for substantial portion of premium(p.37)
- • High regulatory oversight with history of compliance observations(p.34)
- • Concentration risk with reinsurers(p.42)
- • Recent period loss and volatile profitability(p.20)
- • Network hospital contract termination risk without cause(p.43)
- • Past cybersecurity breach affecting customer data(p.44)
- • Outstanding legal proceedings creating management distraction(p.45)
- • Expenses of Management exceeding regulatory limits(p.51)
- • Contingent liabilities from regulatory disputes(p.56)
- • Dependence on third-party technologies and platforms(p.59)
- • Inability to unilaterally adjust network hospital arrangements(p.43)
- • Debt covenant restrictions limiting business flexibility(p.57)
- • Significant accumulated losses and negative net worth in recent fiscal years(p.83)
- • Negative return on net worth in recent periods(p.131)
- • High combined insurance ratio indicating underwriting losses in some periods(p.131)
- • Dependence on capital infusions to fund operations and growth(p.123)
- • Negative underwriting balance ratio of -6.00% in FY24, indicating underwriting losses not offset by investment income(p.184)
- • Heavy reliance on individual agents (32.07% of GWP in FY24) resulting in higher expense ratios of 39.93% compared to peers(p.170)
- • Lower retention ratio of 79% for health segment in Q1 FY25, behind Star Health (91.40%) and ManipulCigna (96%)(p.187)
- • Smaller asset base with AUM of ₹54.58 billion in FY24, significantly lower than larger peers like ICICI Lombard (₹489.07 billion) and Tata AIG (₹311.54 billion)(p.186)
- • Lower premium per agent (₹125.71 thousand in FY24) and average ticket size through brokers compared to some peers, signaling market position or product mix constraints(p.187)
- • Loss after tax in Q1 FY25: ₹(188.21) million despite revenue growth(p.196)
- • Negative net current assets of ₹(32,163.89) million as of March 31, 2024(p.196)
- • Debit balance in P&L account of ₹9,319.67 million as of March 31, 2024(p.196)
- • Elevated Combined Ratio at 98.79% (FY24), above breakeven threshold(p.196)
- • Fixed borrowings of ₹2,500 million unchanged since FY22(p.196)
- • Return on Net Worth of 5.68% in FY24, volatile and historically negative(p.196)
- • Significant subordinated debt burden impacting financial flexibility(p.260)
- • Dependency on Bupa trademark license with termination conditions(p.263)
- • Concentration of board nomination rights with single shareholder(p.262)
- • Exceeding regulatory Expenses of Management limits(p.299)
- • Non-functioning audit trail in accounting software during periods(p.299)
- • Accumulated losses(p.305)
- • Disputed tax demands(p.338)
- • GST demands under dispute(p.338)
- • Non-performing investments with provisions made(p.346)
- • Excess Expenses of Management requiring forbearance(p.361)
- • Negative profitability in Q1 periods(p.401)
- • High debt burden relative to equity(p.385)
- • Accumulated debit balance in P&L(p.402)
- • High operating expenses relative to business scale requiring regulatory remediation(p.418)
- • Continued net cash outflows from investing activities(p.423)
- • Substantial contingent liabilities related to disputed tax demands and unacknowledged policy claims(p.424)
- • Accumulated debit balance in profit and loss account(p.421)
- • Significant outstanding litigation and regulatory compliance issues(p.429)
Opportunities
- • Strong growth potential in retail health insurance segment(p.14)
- • SAHIs' dominant market leadership in retail health insurance(p.14)
- • Expansion potential through growing distribution channels(p.37)
- • Rising demand driven by lifestyle diseases and health awareness(p.34)
- • Expanding group health insurance market with higher profitability(p.44)
- • Growing corporate demand for employee health insurance(p.44)
- • Geographic expansion across India(p.49)
- • Health insurance sector outpacing general insurance growth(p.44)
- • Digital distribution expansion opportunities(p.49)
- • Expansion of health ecosystem platforms to new geographies(p.123)
- • Product innovation and expansion targeting various customer groups and chronic conditions(p.123)
- • Participation in government health initiatives like Ayushman Bharat(p.123)
- • Augmentation of capital base to sustain current growth rate and support future expansion(p.123)
- • Retail health segment projected to grow at 18-21% CAGR through FY29, reaching ₹1.0-1.1 Tn GDPI; Niva Bupa 69.28% retail exposure offers high growth potential(p.164)
- • SAHIs expected to reach ₹0.7-0.9 Tn GDPI by FY29 (25-30% CAGR), with tier II+ market expansion and digital sales offering growth avenues(p.172)
- • Corporate agents (bancassurance) contribution rising from 10% (FY18) to 15% (FY24) for SAHIs; open architecture enabling multi-insurer relationships expands distribution(p.173)
- • Growing middle class and high-income households projected to expand from 41 Mn (12% of households in 2023) to 149 Mn (41% by 2028), driving retail health demand(p.152)
- • Government health initiatives (AB-PMJAY, PM-JAY, PMSBY) and IRDAI regulatory sandbox (extended to 36 months) fostering innovation and product development(p.159)
- • Adoption of IFRS 17-based accounting standard (effective April 1, 2025) improving comparability; Niva Bupa already using 1/365 method similar to Star Health(p.186)
- • Digital penetration enabling 25-30% CAGR growth in insurtech premiums (FY21-24 reaching ₹380-440 Bn); Niva Bupa largest non-life seller on Policybazaar.com(p.154)
- • Retail health market expansion through product innovation pipeline(p.210)
- • Expand Network Hospitals beyond 10,426 to increase market penetration(p.210)
- • Technology and analytics investment to improve unit economics(p.210)
- • E-agency model for cost-efficient agent expansion into semi-urban and rural markets(p.207)
- • Healthcare ecosystem platform expansion through partnerships(p.210)
- • IRDAI Vision 2047 to achieve insurance for all with policy initiatives(p.258)
- • Regulatory Sandbox framework for innovation in insurance products and distribution(p.254)
- • IRDAI open house and continued regulatory support for penetration(p.258)
- • Bima Sugam digital marketplace to increase insurance accessibility(p.255)
- • Expanding retail health insurance market(p.396)
- • India's strong macroeconomic growth(p.396)
- • Low insurance penetration vs. developed markets(p.396)
- • Rising disease burden driving demand(p.396)
- • Expansion of retail health insurance segment with growing SME penetration(p.419)
- • Growth in broker and corporate agent distribution channels(p.415)
- • Increased investment income potential from growing policyholder assets(p.416)
- • Expansion into new product categories and add-ons(p.415)
Threats
- • Exposure to major epidemics and pandemics affecting claims and pricing(p.32)
- • Dependence on accurate medical cost estimation with uncontrollable factors(p.32)
- • Extensive regulatory environment and potential penalties(p.34)
- • Regulatory approval requirement for senior management appointments creating operational delays(p.37)
- • Reinsurance availability and renewal risks(p.42)
- • Risk of adverse changes in group health policy demand(p.43)
- • Heightened cybersecurity attack risks in digital operations(p.44)
- • Intense competition from established and new health insurers(p.48)
- • Potential composite license increasing competition from life and general insurers(p.48)
- • Pandemic and catastrophic event exposure(p.61)
- • Regulatory changes affecting business operations and profitability(p.68)
- • Seasonal fluctuations in retail health insurance demand(p.67)
- • Restrictions on policy cancellation and pricing flexibility(p.64)
- • Foreign exchange volatility risk on international operations(p.77)
- • Macroeconomic and political instability in India(p.70)
- • Requirement to maintain minimum solvency ratio of 1.50x as regulatory obligation(p.123)
- • Solvency ratio vulnerability to various external factors affecting capital adequacy(p.123)
- • Regulatory risk of mandatory regulatory actions and business restrictions from IRDAI non-compliance(p.124)
- • High claims ratio exposure indicating profitability challenges(p.131)
- • Health insurance penetration at only 1.0% vs. global average 4.2% (FY23) and concentrated competitor base with public insurers holding 68% of government business(p.167)
- • Rising healthcare inflation at 5.1% (Dec 2023) and high out-of-pocket expenses (47% of CHE in 2023) creating cost pressures on claims ratios(p.161)
- • Intense competition from Star Health (₹150.34 Bn GDPI in FY24, 13.95% market share) and Care Health (₹65.46 Bn, 6.07% market share) with better renewal rates(p.167)
- • Regulatory compliance burden with IRDAI controls on Expense of Management (EOM), standardized product requirements, and evolving compliance frameworks(p.156)
- • Cyclical industry exposure to pandemic/epidemic claims spikes (COVID-19 impact visible in FY22 with claims ratios of 64-96% vs. normalized 59-71%)(p.170)
- • Standardization challenges and uneven rural-urban healthcare infrastructure; cybersecurity risks from increasing digital reliance and customer data vulnerability(p.162)
- • Fraudulent claims and anti-selection risks as health insurance penetration grows among higher-risk populations without adequate data history(p.162)
- • Claims ratio volatility: increased to 59.02% (FY24) from 54.05% (FY23) due to higher renewals and infectious claims(p.227)
- • Seasonal revenue fluctuations: slower Q1 growth; tax-driven Q4 spike(p.241)
- • Medical inflation impact on claims costs and future profitability(p.230)
- • Intense competition from 6 other SAHIs, public and private insurers in market(p.239)
- • Regulatory compliance and changing IRDAI requirements on capital, governance, foreign investment(p.243)
- • COVID-19 legacy: FY22 loss of ₹(1,965.25) million from higher claims; ongoing infectious disease risk(p.227)
- • Extensive regulatory requirements and compliance burden on insurance operations(p.247)
- • IRDAI authority restrictions on capital structure and share transfers(p.246)
- • Restrictions on outsourcing material insurance functions(p.248)
- • Mandatory director composition and management person requirements(p.246)
- • Regulatory discretion on forbearance approval(p.299)
- • Uncertainty from ongoing COVID-19 pandemic(p.300)
- • Regulatory restrictions on investments limiting returns(p.400)
- • Solvency margin compliance risk(p.400)
- • Intense competition from multiple insurers(p.400)
- • Seasonal business volatility(p.401)
- • Regulatory uncertainty regarding expenses of management compliance and potential penalties(p.418)
- • Tax litigation and potential GST liability exposure(p.436)
- • Competitive pressures and pricing challenges in health insurance sector(p.421)
- • Credit and liquidity risks from investment portfolio concentration and reinsurer dependencies(p.425)
- • Potential adverse impact from seasonal fluctuations in retail health insurance demand(p.425)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Bupa Singapore Holdings Pte. Ltd. | Promoter/Promoter Selling Shareholder | 62.19% | — |
| Fettle Tone LLP | Promoter/Promoter Selling Shareholder (to be reclassified as investor post-allotment) | 26.80% | — |
| Bupa Investments Overseas Limited | Promoter | — | — |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | — | [●]% |
| Fettle Tone LLP | Selling Shareholder | — | not more than 24.99% |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | 62.19% | — |
| Fettle Tone LLP | Promoter | 26.80% | — |
| Bupa Investments Overseas Limited | Promoter | — | — |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | — | — |
| Bupa Investments Overseas Limited | Promoter | — | — |
| Fettle Tone LLP | Promoter | — | — |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | — | — |
| Bupa Investments Overseas Limited | Promoter | — | — |
| Fettle Tone LLP | Promoter (interim period until Allotment Date of IPO) | — | — |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | — | — |
| Bupa Investment Overseas Limited | Promoter | — | — |
| Fettle Tone LLP | Promoter | — | — |
| Bupa Singapore Holdings Pte Ltd | Foreign Promoter/Holding Company | 62.96% | — |
| Fettle Tone LLP | Indian Promoter/Significant Influence | 28.16% | — |
| Bupa Singapore Holdings Pte Ltd | Promoter | 62.97% | — |
| Fettle Tone LLP | Investor (re-classified from promoter) | 28.14% | — |
| Key Management Personnel (KMP) | Shareholders | 0.61% | — |
| Bupa Singapore Holdings Pte. Ltd. | Promoter | — | — |
| Fettle Tone LLP | Promoter (to be re-classified as investor post-issue) | — | — |
| Fettle Tone LLP | Promoter/Selling Shareholder | — | Not more than 24.99% |
| Bupa Singapore Holdings Pte. Ltd. | Selling Shareholder | — | — |
| Bupa Singapore Holdings Pte. Ltd. | Selling Shareholder | — | — |
| Fettle Tone LLP | Selling Shareholder | — | — |
Leadership
Chandrashekhar Bhaskar Bhave · Chairman and Independent Director
Krishnan Ramachandran · Managing Director and Chief Executive Officer
Vishwanath Mahendra · Chief Financial Officer
Joanne Elizabeth Woods · Chief Risk Officer
Rajat Sharma · Company Secretary and Compliance Officer
Manish Sen · Appointed Actuary
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Niva Bupa Health Insurance Company IPO FAQs
What is the lot size of Niva Bupa Health Insurance Company IPO?
The minimum lot size of Niva Bupa Health Insurance Company IPO is 200 shares. One lot costs ₹14,800 at the cut-off price.
When does Niva Bupa Health Insurance Company IPO open and close?
Niva Bupa Health Insurance Company IPO opened for subscription on 07 Nov 2024 and closed on 11 Nov 2024.
What is the listing date of Niva Bupa Health Insurance Company IPO?
Niva Bupa Health Insurance Company IPO listed on 14 Nov 2024.