Niva Bupa Health Insurance IPO Soars on Debut

Niva Bupa Health Insurance Company Ltd's shares started trading with a 6% premium, debuting at Rs 78.50 on BSE compared to the Rs 74 issue price. The company's market cap reached Rs 14,069.93 crore. The IPO was subscribed 1.80 times, raising Rs 2,200 crore for capital base enhancement and corporate purposes.

Niva Bupa Health Insurance Company Ltd made an impressive debut on the stock market, with shares listing at a 6% premium on the BSE at Rs 78.50, compared to the issue price of Rs 74. The stock gained further momentum, soaring 9.37% to Rs 80.94.

On the National Stock Exchange, shares opened at Rs 78.14, marking a 5.59% surge from the initial offering price, pushing the company's market valuation to Rs 14,069.93 crore.

The Rs 2,200-crore initial public offering had a subscription rate of 1.80 times, featuring a fresh equity issuance worth Rs 800 crore. The generated funds aim to bolster the company's capital base and improve solvency levels, with a portion set aside for general corporate purposes.

(With inputs from agencies.)