Go Digit General Insurance IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 19, 2024Let’s have a detailed review of the company and analytics of the Go Digit General Insurance IPO release date, IPO offer price, subscription, Go Digit General Insurance Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 258 to Rs 272 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 55 Shares |
| Listing Date | May 23, 2024 |
| Offer for Sale | Rs 1,489.65 Cr. |
| Fresh Issue | Rs 1,125.00 Cr. |
| IPO Size | Rs 2,614.65 Cr. |
| Tick Size | 1 |
Go Digit General Insurance IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Go Digit General Insurance Share Price |
Go Digit General Insurance IPO – Summary
They aim to make insurance simple. Through innovation and transparency, they believe in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime.
Also, they are one of the leading digital full-stack insurance companies, leveraging their technology to power what they believe to be an innovative approach to product design, distribution and customer experience for non-life insurance products.
The Promoter of this company is KAMESH GOYAL, GO DIGIT INFOWORKS SERVICES PRIVATE LIMITED, OBEN VENTURES LLP AND FAL CORPORATIONINI. The lead manager of the issue is ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited, HDFC Bank Limited and IIFL Securities Limited, and the Registrar of this issue is Link Intime India Private Limited.
Go Digit General Insurance IPO Date
The opening and closing dates of the Go Digit General Insurance IPO are May 15, 2024 and May 17, 2024, respectively.
Go Digit General Insurance IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 15th May | 0.00x | 0.35x | 1.50x | 0.37x |
| 2nd Day – 16th May | 0.24x | 0.73x | 2.57x | 0.80x |
| 3rd Day – 17th May | 12.56x | 7.24x | 4.27x | 9.60x |
| Shares Offered or Net Issue | 28,838,007 | 14,419,002 | 9,612,668 | 96,126,686 |
The shares subscribed by the public will be updated here.
Go Digit General Insurance IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares are pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Go Digit General Insurance Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | May 21, 2024 |
| Refunds Initiation | May 22, 2024 |
| Credit of Shares to Demat Account | May 22, 2024 |
| Share Listing Date | May 23, 2024 |
Go Digit General Insurance IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 258 to Rs 272
Go Digit General Insurance IPO Equity Size
This Initial Public Issue of 96,126,686 Equity Shares of Rs.10 each for cash at a price of Rs 258 to Rs 272 per equity share aggregating to Rs.2,614.65 Crore.
Go Digit General Insurance IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 41,360,294 Equity Shares of Rs.10/ each.
Issue Size: 96,126,686 Equity Shares of Rs.10 each, aggregating to Rs.2,614.65 Crore
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Go Digit General Insurance IPO – Live Performance
The listing date of this IPO is May 23, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Go Digit General Insurance Share Price |
Go Digit General Insurance IPO Grey Market Premium
The Go Digit General Insurance Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Go Digit General Insurance IPO – Company Overview
They aim to make insurance products so simple that even a 15-year-old can understand them. Incorporated on December 7, 2016, they began their journey to change the way non-life insurance products are understood and experienced by consumers and distributors in India.
So, they believe that by simplifying insurance, they can establish trust and create meaningful relationships with their customers and distribution partners.
Their Company is focused on simplifying its insurance documentation and have taken pioneer innovations to do so.
Their aim is to ensure that the language of the insurance contract is understandable to all, including a 15-year-old. Insurance policy documents are typically filled with jargon and are considered complex and may not be fully understood by policyholders.
Go Digit General Insurance IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||||
| 31-Dec-22 | 31-Dec-21 | Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets |
33,489.63
|
22,974.15
|
29,190.07
|
18,747.95
|
16,354.00
|
| *Total Revenue |
124.19
|
(1,939.06)
|
(2,936.41)
|
(1,185.49)
|
(1,725.80)
|
| Total Expense |
23.98
|
22.93
|
22.10
|
42.15
|
26.63
|
| Profit After Tax |
100.21
|
(1,961.99)
|
(2,958.51)
|
(1,227.64)
|
(1,752.43)
|
Earnings per Equity Share (in Million)
| 31-Dec-22 | 31-Dec-21 | Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 0.12 |
(2.37)
|
(3.55)
|
(1.50)
|
(2.41)
|
Further, their PAT for the period ended on Dec 31, 2022, Dec 31, 2021, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 100.21 Million, Rs. (1,961.99) Million, Rs. (2,958.51) Million, Rs. (1,227.64) Million and Rs. (1,752.43) Million respectively.
Go Digit General Insurance IPO – Promoters
The Promoter of this company is:
- KAMESH GOYAL,
- GO DIGIT INFOWORKS SERVICES PRIVATE LIMITED,
- OBEN VENTURES LLP
- FAL CORPORATIONS
List of Related Parties (Key Managerial Personnel)
-
Kamesh Goyal, Non-Executive Chairman
-
Jasleen Kohli, Managing Director and Chief Executive Officer
-
Chandran Ratnaswami, Non-Executive Director (Nominee of FAL Corporation)
-
Rajendra Beri, Independent Director
-
Vandana Gupta, Independent Director
Go Digit General Insurance IPO – Promoters Holding
- Pre-Issue Share Holding – 83.31%
- Post-Issue Share Holding – %
Go Digit General Insurance IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 96,126,686 Equity Shares aggregating up to Rs.2,614.65 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 875,842,046 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Go Digit General Insurance IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To undertake their existing business activities; and
- To undertake the activities proposed to be funded from the Net Proceeds.
Go Digit General Insurance IPO – Business Strategy
- Be known as a leader in customer service
- Acquire new customers across their current products in the Indian non-life insurance market
- Grow their product portfolio to meet Indian market needs and drive further adoption across their product suite
- Expand into new geographies within India
- Optimize customer experience and boost operating leverage through continued investment in technology
Go Digit General Insurance IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- High-quality Customer Experience
- Their Focus on Empowering Their Distribution Partners
- Predictive Underwriting Models
- Advanced Technology Platform
- A nimble organization with a skilled and experienced management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 |
(3.55)
|
(15.85)%
|
21.73 |
| 31-Mar-21 |
(1.50)
|
(10.82)% | – |
| Mar-20 |
(2.41)
|
(15.61)%
|
– |
Go Digit General Insurance IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Net Profit (Rs. in Million) | |
| Go Digit General Insurance Limited | 10 | [●] |
(3.55)
|
(15.85)%
|
(2,959.51)
|
| Listed Peers | |||||
| New India Assurance Company Limited | 5 | 83.3 |
1.18
|
0.94%
|
1779.20
|
| Star Health and Allied Insurance Company Limited | 10 | NA |
(18.65)
|
(23.06)%
|
(10,406.70) |
| ICICI Lombard General Insurance Company Ltd | 10 | 41.6 |
25.91
|
13.95%
|
12,710.09
|
Go Digit General Insurance IPO Lead Managers
| Lead Managers |
|
ICICI Securities Limited Morgan Stanley India Company Private Limited Axis Capital Limited Edelweiss Financial Services Limited HDFC Bank Limited IIFL Securities Limited |
Go Digit General Insurance IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S.Marg Vikhroli WestMumbai 400 083, Maharashtra, IndiaTelephone: +91 810 811 4949 Email: godigit.ipo@linkintime.co.in Investor grievance email: godigit.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Go Digit General Insurance IPO – Other Details
- Statutory Auditor – Kirtane & Pandit LLP, Chartered Accountants and PKF Sridhar & Santhanam LLP, Chartered Accountants.
- Legal Counsel to the Company – AZB & Partners
- Bankers to the Company – Axis Bank, ICICI Bank, HDFC Bank and Standard Chartered Bank Ltd.
Go Digit General Insurance IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Go Digit General Insurance Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Go Digit General Insurance IPO Review FAQs
Check out various FAQs related to Go Digit General Insurance IPO:
What is the Issue Size of Go Digit General Insurance IPO?
The Company is making an initial public offer of 96,126,686 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Go Digit General Insurance IPO?
The price band for this particular IPO ranges between Rs 258 to Rs 272. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Go Digit General Insurance IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 15, 2024, while the closing date is set at May 17, 2024.
What is the Go Digit General Insurance IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on May 21, 2024, refund initiation is on May 22, 2024, credit of shares is on May 22, 2024, and share listing date is on May 23, 2024.
What is the Go Digit General IPO Listing Date?
Shares of this company shall be listed in the exchanges on May 23, 2024. The date, when the listing would be done, is stagnant on May 23, 2024.
Who is the Registrar of Go Digit General IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Go Digit General IPO?
Here are the promoters of this IPO – KAMESH GOYAL, GO DIGIT INFOWORKS SERVICES PRIVATE LIMITED, OBEN VENTURES LLP AND FAL CORPORATIONINI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Go Digit General IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Go Digit General IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Go Digit General Insurance Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Million is (2,958.51), 2021 is (1,227.64), and 2020 is (1,752.43). PAT from Dec 2022 is 100.21.
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