HNIs Drag Feet On IPOs

Niva Bupa Health, ACME Solar & Swiffy IPOs see muted enthusiasm from non-institutional investors.
MUMBAI, Nov 8 (The CONNECT) – The Initial Public Offering of Niva Bupa Health Insurance Company Limited was fully subscribed on the second day of bidding. The issue closes on Monday, November 11.
The issue received bids of 20,27,56,000 shares against the offered 17,28,57,143 equity shares, at a price band of ₹70-74, according to the data available on the stock exchanges.
Retail Portion and Non-Institutional Investors Portion were subscribed 1.34 times and 0.40 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 1.50 times.
Niva Bupa has already raised Rs 990 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor included Amansha Holdings, Zulia Investments, A91 Emerging Fund II LLP, Nippon Life, Tata Balance Advantage Fund, Axis Mutual Fund, Morgan Stanley Investment Fund amongst others.
The IPO of ACME Solar Holdings Limited which closed today was Subscribed 2.75 times. The QIB segment was subscribed 3.54 times, NII 0.97 times and Retail 3.09 times. The employees portion was subscribed one and half times
The IPO of Swiggy was subscribed by 3.59 times with the QIB portion getting six times subscriptions. The Non-Institutional Investors (NII) category received 41% of the applications reserved for it. Retail and employee segments were fully subscribed.
Market pundits say the fact that the grey market premium remailed either low or flat indicated no listing gains and the NIIs chose to wait for the listing days to invest.