Go Digit Insurance IPO open for subscription: Should you invest in the Virat Kohli-backed firm? | India Business News

May15,2024



Go Digit Insurance IPO: Initial public offering (IPO) of Go Digit Insurance, backed by Virat Kohliopens for contribution Today and till 17th May IPO This includes a fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to Rs 5.47 crore. shares,
According to the ET report, Go Digit Infoworks and other existing shareholders will sell stake during the OFS, while Virat Kohli and Anushka Sharma Will retain their investment. Kohli acquired 2.66 lakh shares for Rs 2 crore in 2020, while Sharma invested Rs 50 lakh through private placement.
The insurance company intends to use the net income to strengthen its capital base and maintain solvency levels.

Go Digit Insurance IPO Review

analysts suggest investors Subscribe to the issue as Go Digit's advanced technology and predictive underwriting model positions it for ongoing innovation and growth.
Read this also Relief for investors! Insurance giant LIC has been given 3 years to acquire 10% public stake
Despite recent earnings and a high valuation compared to losses, Go Digit's strong technology and growing market position suggest the potential for future profits. Keeping these in mind, Swastika Investmart recommends subscribing to this IPO.

Go Digit Insurance IPO Price Band

The company has set the price range at Rs 258-278 per share for its maiden public offering, aiming to raise Rs 2,615 crore at the upper limit. Investors can bid for a minimum of 55 shares in a lot and a multiple of shares thereafter. 75% of the offer is for QIB investors, 15% for non-institutional investors and the remaining 10% for retail investors.

About Go Digit Insurance

go points is a top digital insurer in India, excelling in non-life insurance with a focus on providing personalized customer experience and supporting their distribution partners.
In the nine months to December 2023, Go Digit's net premium income rose to Rs 5,115 crore from Rs 3,767 crore last year. Its profit after tax increased from Rs 10 crore to Rs 129 crore in the same period of FY23.
The book-running lead managers for the IPO include ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank and IIFL Securities.



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