Go Digit is scheduled to hit the market on May 15, 2024 and close on May 17, 2024. Go Digit plans to raise around ₹2,614.65 Cr through an IPO with a sale of up to 96,126,686 equity shares of ₹10 each. The Retail offered 10%, QIB Shares Offered 75%, HNI Shares Offered 15%
Go Digit General Insurance, established in December 2016, provides a range of insurance products such as motor, health, travel, property, marine, and liability insurance that customers can tailor to their requirements. With a total of 74 active products across all business lines, the company boasts a network of about 61,972 partners, including 58,532 POSPs and other agents as of December 31, 2023. Operating in 24 states and union territories in India, the company utilizes 473 active bots for task automation and maintains 75 offices across the country.
The workforce of Go Digit General Insurance Limited saw growth from 3,333 employees as of March 31, 2023, to 3,957 employees by December 31, 2023. The company's extensive distribution network and strategic use of technology reflect its commitment to providing efficient and customizable insurance solutions to its customers nationwide.
Go Digit IPO Details
Go Digit IPO opens on May 15, 2024, and closes on May 17, 2024. The Listing date for Go Digit IPO is on May 23, 2024. The price band for IPO is ₹258 to ₹272 per share and lot size of 55 Shares.
| IPO Date | May 15, 2024 to May 17, 2024 |
| Listing Date | May 23, 2024 |
| Price | ₹258 to ₹272 per share |
| Lot Size | 55 Shares |
| Issue Size | ₹2,614.65 Cr |
| Face Value | ₹10 per share |
Go Digit IPO Tentative Timetable
Go Digit opening date is May 15, 2024 and close date is May 17, 2024. The IPO allotment date is May 21, 2024. The refund initiation of IPO is on May 22, 2024. The credit of shares in demat account is on May 22, 2024. The listing date is on May 23, 2024.
| Event | Date |
|---|---|
| IPO Opening | May 15, 2024 |
| IPO Closing | May 17, 2024 |
| IPO Allotment Date | May 21, 2024 |
| Refund Initiation | May 22, 2024 |
| Shares Credit to Demat | May 22, 2024 |
| Lisiting Date | May 23, 2024 |
Go Digit IPO Lot Size
Lot Size of this IPO is 55 shares. A retail-individual investor can apply for up to 13 lots (715 shares or ₹194,480).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 55 | ₹14,960 |
| Retail(Maximum) | 13 | 715 | ₹194,480 |
| S-HNI (Minimum) | 14 | 770 | ₹209,440 |
| B-HNI (Minimum) | 67 | 3685 | ₹1,002,320 |
Go Digit IPO Promoter Holding
| Pre Issue Share Holding | 83.31% |
| Post Issue Share Holding |
Go Digit IPO Review
Go Digit General Insurance is all set to launch its maiden combo IPO, consisting of fresh equity shares worth Rs. 1125.00 crore and an Offer for Sale (OFS) of equity shares worth Rs. 1489.65 crore, making the total IPO size around Rs. 2614.65 crore. The company, established in 2016, has shown impressive growth with a Google rating of 4.7 and a Facebook rating of 4.9, showcasing strong customer satisfaction. With a focus on simplicity and innovation, Digit Insurance offers a wide range of non-life insurance products tailored to meet diverse customer needs.
The financial performance of Go Digit General Insurance Ltd. has been remarkable, with a turnaround in FY23 and a net profit of Rs. 129.02 crore in the 9 months ending December 31, 2023. The company's Gross Written Premium (GWP) has shown consistent growth, reflecting promising future prospects. However, the issue appears to be aggressively priced based on annualized FY24 earnings, which may pose a challenge for some investors. Despite the complexities of the insurance sector, informed investors looking for long-term rewards may find potential in this IPO.
In conclusion, Go Digit General Insurance Ltd.'s IPO presents an opportunity in a dynamic insurance sector post-Covid, with the company positioned for growth and success. While the pricing may deter some due to its aggressive nature, the company's track record and customer-centric approach signal a positive outlook. Investors seeking exposure to a tech-driven insurance player with a strong market presence may consider this IPO for moderate long-term investments, keeping a close watch on the company's future business expansion and profitability.
Go Digit IPO Subscription Status (Bidding Details)
Table not foundGo Digit IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Go Digit IPO FAQs
What is Go Digit IPO?
Go Digit is issuing 96,126,686 equity shares with a face value of 10 each, totaling up to ₹2,614.65 Cr. The shares are being offered at a price of ₹258 to ₹272 each, with a minimum order quantity of 55 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Go Digit IPO will open?
Go Digit will open on May 15, 2024 for QIB, NII, and Retail Investors.
When Go Digit IPO will end?
Go Digit will end on May 17, 2024.
What is Go Digit IPO Size?
Go Digit IPO size is ₹2,614.65 Cr.
What is Go Digit IPO Price Band?
Go Digit price band is ₹258 to ₹272 per share.
What is the Go Digit IPO Allotment Date?
Go Digit allotment date is May 21, 2024.
What is the Go Digit IPO Listing Date?
Go Digit listing date is May 23, 2024. The IPO is to be listed on BSE and NSE.
How to Go Digit IPO through Zerodha?
To apply for the IPO “Go Digit” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Go Digit IPO through Upstox?
To apply for the IPO “Go Digit” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Go Digit IPO Allotment Status?
For Go Digit IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Go Digit IPO GMP?
You can check out here: Go Digit IPO GMP