Go Digit IPO Listing
Go Digit IPO Listing: Go Digit General Insurance provides various types of insurance products like Motor Insurance, Health Insurance, Travel Insurance, Property Insurance, Marine Insurance, Liability Insurance and more.
Its IPO got a good response from investors and now the shares have been listed today. New shares have been issued under IPO and shares have also been sold under Offer for Sale.
Go Digit General Insurance IPO Listing: Shares of Go Digit, invested by Virat Kohli and Anushka Sharma, had a successful entry in the domestic market today. Its IPO received more than 9 times the overall bid.
Under the IPO, shares have been issued at a price of Rs 272. Today it has entered at Rs 281.10 on BSE and Rs 286.00 on NSE, which means IPO investors got a listing gain of 5.15 percent (Go Digit Listing Gain).
After listing the shares went up further. It jumped to Rs 314.00 (Go Digit Share Price) on BSE. Due to profit booking, it closed at Rs 305.75 at the end of the day, that is, at the end of the first trading day, IPO investors are now in 12.41 percent profit.
Go Digit IPO got strong response
Go Digit's ₹2,614.65 crore IPO was open for subscription from May 15-17. This IPO received a good response from investors and overall it was subscribed 9.60 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 12.56 times, the share for Non-Institutional Investors (NII) was 7.24 times and the share for retail investors was 4.27 times.
Under this IPO, new shares worth Rs 1125 crore have been issued. Apart from this, offers of 5,47,66,392 shares with face value of Rs 10 have been issued under the for sale window.
The shareholders who sold the shares have received the money from the offer for sale. These shares have been sold by some shareholders including promoter Go Digit Infoworks.
The company will use the money raised through new shares to expand its sellers and buyers base, start new business lines, make acquisitions and use data.
About Go Digit General Insurance
Established in December 2016, Go Digit General Insurance provides a wide range of insurance products including motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and more.
There are 74 active products in its business lines. According to the data till December 2023, it has 75 offices across the country.
Talking about the financial health of the company, it had a net loss of Rs 122.76 crore in the financial year 2021, which further increased to Rs 295.85 crore in the next financial year 2022.
However, then the situation improved and in the financial year 2023 it reached a net profit of Rs 35.54 crore. Talking about the last financial year 2023-24, it has achieved a net profit of Rs 129.02 crore in the first 9 months i.e. April-December 2023. It has a debt of Rs 200 crore.