Niva Bupa Health Insurance IPO: GMP, subscription status to review. Apply or not?

Niva Bupa Health Insurance IPO: The initial public offering (IPO) of Niva Bupa Health Insurance Limited hit the Indian primary market on 7th November 2024. The public issue will remain open until 11th November 2024. This means investors have just one day to apply for the Niva Bupa Health Insurance IPO. According to Niva Bupa Health Insurance IPO subscription status, the public issue has been oversubscribed. The book build issue was subscribed to 1.17 times in the first two days of bidding. Meanwhile, Niva Bupa Health Insurance shares continue to trade positive in the grey market.

Niva Bupa Health Insurance IPO GMP today

According to stock market observers, Niva Bupa Health Insurance IPO GMP (Grey Market Premium) today is ₹5, which is unchanged from the Niva Bupa Health Insurance IPO GMP on the weekend. Market observers said grey market sentiments may improve if there is a trend reversal on Dalal Street. However, they noted that despite the range-bound trend and cautious approach maintained in the secondary market, Niva Bupa Health Insurance IPO GMP has remained positive, which is good from the public issue's perspective.

Niva Bupa Health Insurance IPO subscription status

By 3:18 PM on day 3 of bidding, the public issue had been subscribed 1.68 times, the retail portion of the public issue 2.54 times, the NII segment booked 0.65 times, and the QIB segment subscribed 1.90 times.

Niva Bupa Health Insurance IPO Review

Assigning a 'subscribe for the long term' tag, Bajaj Capital says, "Regarding financial performance, over the past three fiscal years, Niva Bupa Health Insurance Co. Ltd. (NBHICL) has reported the following consolidated figures: a gross written premium (GWP) / net profit (loss) of ₹2809.97 crore / ₹-196.53 crore (FY22), ₹4073.03 crore / ₹12.54 crore (FY23), and ₹5607.57 crore / ₹81.85 crore (FY24). For Q1 of FY25, ending on June 30, 2024, the company recorded a loss of ₹-18.82 crore on a GWP of ₹1464.18 crore. Historically, insurance companies experience a sluggish first half with most activities occurring in the second half of the fiscal year."

Canara Bank Securities has also assigned a 'subscribe' tag to the book build issue saying, "According to the Redseer Report, they have a diversified channel mix with corporate agents (banks and others), individual agents and broker channels contributing 27.25%, 32.07% and 27.04% respectively of their business by GDPI for Fiscal 2024 respectively, as compared to over 50% contribution of the individual agents channel to overall GDPI of SAHIs in Fiscal 2024."

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