The Go Digit General Insurance IPO will open today, May 15, for subscription and close on Friday, May 17. The company secured ₹1,176.59 crore from anchor investors on May 14, issuing 4,32,57,009 equity shares at ₹272 per share. Various domestic and international institutions participated in the anchor investment, including Fidelity Investment Trust, Goldman Sachs, and others.
The price band for the IPO is set at ₹258 to ₹272 per equity share, with a face value of ₹10, and the lot size is 55 equity shares. The issue size has been reserved with 75% for qualified institutional investors, 15% for non-institutional investors, and 10% for retail investors.
Go Digit General Insurance offers a range of customizable insurance products covering health, liability, property, marine, travel, and auto insurance.
The IPO comprises an offer-for-sale (OFS) of 54,766,392 equity shares by promoters and other selling shareholders, along with a fresh issue of ₹1,125 crore. Promoters include Kamesh Goyal, GoDigit Infoworks Services Private Limited, Oben Ventures LLP, and FAL Corporation.
The net proceeds from the IPO will support the company’s commercial operations and projects, with anticipated benefits from listing on stock exchanges to enhance brand awareness and reputation.
Analysts recommend subscribing to the IPO with a medium to long-term perspective, citing growth and margin expansion potential. Despite operational losses, Go Digit’s financial performance has improved, backed by its technology prowess and expanding market position.
The grey market premium (GMP) for Go Digit IPO today is +47, indicating a premium of ₹47 in the grey market. Considering the top end of the IPO pricing range and the existing premium in the grey market, shares are expected to list at ₹319 per share, a 17.28% increase over the IPO price.
Disclaimer: Investors are advised to consult certified experts before making investment decisions.
