From the launch of Niva Bupa’s ₹2,200 crore IPO to the release of Q2 results from leading companies, November 7th is a day filled with exciting events. Swiggy’s IPO continues, while political rallies and Chhath Puja celebrations dominate the scene. The day also sees the opening of Bengaluru’s Metro Green Line extension, the launch of AMD’s Ryzen 9000X3D processors, and the re-release of Veer-Zaara in international theaters.
Niva Bupa Health Insurance Company has announced the price band for its initial public offering (IPO) at Rs 70-Rs 74 per share. The IPO will open on Thursday and close on Monday, with investors needing to bid for a minimum of 200 shares. The company aims to raise up to Rs 2,200 crore from the offering, with proceeds going towards strengthening its solvency levels and general corporate purposes.
Leading health insurer Niva Bupa is set to go public, filing a draft prospectus to raise Rs 3,000 crore ($360 million) through an IPO. The offering includes a fresh issue of Rs 800 crore and an offer for sale of up to Rs 2,200 crore by existing shareholders, including Bupa Singapore Holdings and Fettle Tone LLP. This makes Niva Bupa the second stand-alone health insurer to list on Indian stock exchanges.
