Go Digit General Insurance IPO Overview

The price band for the upcoming Go Digit General Insurance Ltd IPO has been set at ₹258 to ₹272. Scheduled to open for subscription from May 15 to May 17, the IPO comprises a fresh issue of equity shares worth ₹1,125 crore, along with an offer for sale of 5.47 crore equity shares.

Key Dates to Remember:

  • May 14: Bidding for anchor investors
  • May 15-17: IPO subscription period
  • May 21: Share allotment
  • May 22: Refund and credit of shares to demat
  • May 23: Go Digit stock listing

Notably, the company plans to allocate at least 75% of its shares to qualified institutional buyers (QIBs), with 15% reserved for non-institutional investors (NIIs) and up to 10% available to retail investors.

Furthermore, Go Digit General Insurance will utilize the IPO proceeds for general corporate purposes, maintaining solvency levels, and bolstering its capital base.

The book-running lead managers for the IPO include ICICI Securities, Axis Capital, Morgan Stanley India Company, HDFC Bank, IIFL Securities, and Nuvama Wealth Management.

Indian cricketer Virat Kohli and his actress wife Anushka Sharma are likely to mint multibagger returns from their investment in Go Digit General Investment made about four years ago. The duo had made their investment in February 2020, said the red herring prospectus (RHP) of the company.

Both Virat Kohli and Anushka Sharma bought shares of Go Digit General Insurance Company at an issue price of Rs 75 apiece on February 14, 2020. Kohli bought 2,66,667 equity shares amounting to Rs 2 crore while Sharma lapped up 66,667 equity shares worth Rs 0.50 crore in the placement. The couple cumulatively poured in Rs 2.5 crore in the insurer.

About Go Digit General Insurance
Go Digit offers a comprehensive array of insurance products covering vehicles, health, travel, property, marine, liability, and more. Noteworthy, it is among the pioneering non-life insurance companies in India to operate entirely on the cloud platform, with successful API integrations with multiple channel partners.