Go Digit General Insurance IPO: Opening date, price band, issue size, allotment, listing & more

The initial public offering (IPO) of Go Digit General Insurance will open for bidding on Wednesday, May 15. The company has fixed the price band in the range of Rs 258-272 and investors can bid for a minimum of 55 equity shares and its multiples thereafter. The issue can be subscribed until Friday, May 17.
 

Backed by Prem Watsa's Fairfax Group, Go Digit General Insurance is a general insurance provider, which offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products. Customers can customize their insurance to meet their needs.
 

The IPO of Go Digit includes a fresh share sale of Rs 1,125 crore and an offer-for-sale (OFS) of up to 5,47,66,392 crore equity shares amounting to Rs 1,489.65 crore. At the upper end of the price band, the company is looking to raise a total of Rs 2,614.65 crore via IPO.
 

The net proceeds from the issue shall be utilized to undertake its existing business activities; and general corporate purposes. Proceeds from the OFS shall go to the selling shareholders of the company. The anchor book for the issue opens on Tuesday, May 14.
 

Go Digit reported a net profit of Rs 129.02 crore with a revenue of Rs 130.83 crore for the nine months ended on December 31, 2024. The company's bottomline came in at Rs 35.54 crore with a revenue of Rs 39.19 crore for the financial year ended March 31, 2023, making its first year of profitability.
 

Ace Indian cricketer Virat Kohli and his actress wife Anushka Sharma are also among the shareholders of the company, as per the RHP. In February 2020, Virat Kohli invested Rs 2 crore in the company to buy 2,66,667 equity shares for Rs 75 apiece. Anushka, on the other hand, bought 66,667 equity shares at the same price, investing Rs 50 lakh in the company.
 

Go Digit has currently launched a total of 74 active products across all its business lines. It had about 61,972 partners, including 58,532 POSPs and other agents as of December 31, 2023 It had a distribution centers in 24 states and union territories in India with 473 active bots to automate tasks for functions and partners.
 

The company has reserved not more than 75 per cent of the net issue for the qualified institutional bidders (QIBs), while non-institutional investors will have not more than 15 per cent of shares allocated towards them. Retail investors will get the remaining 10 per cent of the shares.
 

ICICI Securities, Morgan Stanley India Company, Axis Capital, Nuvama Wealth Management, HDFC Bank and IIFL Securities are the book running lead managers of the Go Digit IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE, with Thursday May 23 as the tentative date of listing.