Go Digit IPO
Go Digit provides general insurance including health, car, travel, property, mobile, jewellery.
Go Digit General Insurance IPO: The IPO of 'Go Digit General Insurance', an insurtech startup invested by Virat Kohli and Anushka Sharma, will open on May 15. Anchor investors will be able to bid on May 14. The issue will close on May 17 and the shares will be listed on BSE and NSE on May 23. The price band and lot size for this IPO have not been finalized yet. ICICI Securities Ltd., Morgan Stanley India Company Pvt. Ltd., Axis Capital Ltd., Edelweiss Financial Services Ltd., HDFC Bank Ltd. and IIFL Securities Ltd. are the book running lead managers for the IPO. The Registrar is Link Intime India Private Limited.
New shares worth Rs 1,125 crore will be issued in Go Digit General Insurance IPO. Also, 5.48 crore shares will be offered for sale. The promoters of the company are Kamesh Goyal, GoDigit Infoworks Services Private Limited, Oben Ventures LLP and FAL Corporation. Virat Kohli and Anushka Sharma will not sell shares in IPO. GoDigit Infoworks and other existing shareholders will put the shares up for sale.
Canadian billionaire Prem Vats has also invested money
Canadian billionaire Prem Vats's Fairfax Group is invested in Go Digit. FAL Corporation, owned by Fairfax Financial Holdings, holds a 45.3% stake in Go Digit's parent company Go Digit Info Works Services. Company founder Kamesh Goyal's stake is 14.96% and Oben Ventures LLP holds 39.79%.
Reserve portion of Go Digit General Insurance IPO
In the IPO, 75 percent share will be reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors. This public issue got approval from SEBI in March 2024. Go Digit was started in the year 2016. It is also called Digit General Insurance. It provides general insurance including health, car, travel, property, mobile, jewellery. The valuation of the company is more than $1 billion. Go Digit's revenue for the period April-December 2023 stood at Rs 130.83 crore. During this period, net profit was recorded at Rs 129 crore.