Mumbai, Nov 4 (UNI) Niva Bupa Health Insurance is set to enter the primary market with its initial public offering (IPO) scheduled to open for subscription on November 7 and remain available until November 11.
The price band for its shares at Rs 70 to Rs 74 each, aiming to raise a total of Rs 2,200 crore from this public offering. This includes Rs 800 crore from a fresh share issue and Rs 1,400 crore from an offer for sale (OFS) by its promoters.
Proceeds from the IPO will be utilised to strengthen the company’s capital base and enhance its solvency levels, along with other general corporate purposes.
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