The IPO will stay open for 3 days, and can shut on Friday, Could 17, 2024.

The IPO of the Bengaluru-based insurance coverage startup is a book-built difficulty of Rs 2,614.65 crore.

The difficulty is a mixture of recent difficulty of 41.4 million shares, price Rs 1,125.00 crore, and supply on the market (OFS) of 54.8 million shares aggregating to Rs 1,489.65 crore.

This is all it’s worthwhile to know earlier than subscribing to Go Digit IPO:

About Go Digit firm

Go Digit is a Bengaluru-based full-stack digital insurance coverage firm providing motor, well being, journey, property, marine, legal responsibility and different insurance coverage merchandise.

The corporate supplies customised insurance coverage insurance policies, and has launched a complete of 74 energetic merchandise throughout all its enterprise traces to date.

Go Digit’s Virat Kohli and Anushka Sharma connection

As per experiences, Indian cricketer Virat Kohli purchased 266,667 shares of Go Digit at Rs 75 every by way of personal placement. This totalled to an preliminary funding of round Rs 2 crore.

Equally, actor and producer, Anushka Sharma, invested Rs 50 lakh by buying 66,667 shares of Go Digit at Rs 75 per share.

The duo shouldn’t be divesting their stake.

Go Digit IPO worth band

The worth band of Go Digit’s IPO has been fastened at Rs 258 to Rs 272 per fairness share.

Go Digit GMP

Forward of the opening of the IPO, gray market premium (GMP) stood at Rs 50, as per IPOWatch.com.

Go Digit difficulty dimension and goal

The IPO is a mixture of recent difficulty (price Rs 1,125 crore), and an OFS (54.76 million fairness shares)

The promoters intend to make use of the web proceeds from the IPO to hold out present enterprise operations and help tasks advised by the web proceeds.

The corporate additionally goals to enhance its model consciousness and picture amongst present and potential shoppers.

Go Digit IPO allotment, itemizing dates

Buyers who would apply for the IPO could obtain allotment of shares on Could 21, 2024.

Additional, the shares of Go Digit could listing on the NSE, and the BSE on Could 23, 2024.

Go Digit IPO Lot dimension

The minimal lot dimension that traders can bid for are 55 shares and in multiples thereof.

Certified Institutional Patrons (QIBs) can bid for as much as 75 per cent of the problem; non-institutional traders (NIIs) can bid for as much as 15 per cent of the problem; and retail traders can bid for 10 per cent of the problem.

Go Digit Financials

As per the corporate’s crimson herring prospectus, Go Digit posted internet revenue of Rs 1,290 crore for 9MFY24, up from merely Rs 100.21 crore for the corresponding interval of FY23.

In the meantime, on the finish of FY23, Go Digit had revenue of Rs 355.47 crore.

On the operations entrance, complete revenue for 9MFY24 sood at Rs 1,308.32 crore as in opposition to Rs 124.19 crore for 9MFY23 and Rs 392 crore.

Go Digit, nonetheless, posted an working lack of Rs 101.2 crore for the 9 months ended December 2024, narrowed down from Rs 570 crore for 9MFY23 and Rs 6622.7 crore in FY23.

Go Digit IPO Dangers

The corporate has disclosed that it might not be capable to preserve profitability sooner or later.

Its loss reserves are primarily based on estimates as to future claims liabilities and in the event that they show insufficient, it may result in additional will increase in reserves.

There are excellent authorized proceedings involving the corporate and their promoters and administrators.

Modifications in rates of interest or opposed actions within the fairness markets in India can impair the worth of funding portfolio

First Printed: Could 14 2024 | 1:00 PM IST