Go Digit General Insurance Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 15, 2024 to May 17, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 258 to ₹ 272 per share |
| Lot Size | 55 Shares |
| Total Issue Size | 9,61,26,686 shares (aggregating up to ₹ 2,614.65 Cr) |
| Fresh Issue | 4,13,60,294 shares (aggregating up to ₹ 1,125.00 Cr) |
| Offer for Sale | 5,47,66,392 shares of ₹10 (aggregating up to ₹ 1,489.65 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 87,58,42,046 |
| Share holding post issue | 91,72,02,340 |
About Go Digit General Insurance Limited IPO
Go Digit is a Bengaluru-based full-stack digital insurance company offering motor, health, travel, property, marine, liability and other insurance products. The company provides customized insurance policies and has launched a total of 74 active products across all its business lines so far. GDGIL is one of the leading digital full stack non-life insurance companies, leveraging its technology to power what the company believes to be an innovative approach to product design, distribution and customer experience for non-life insurance products. Since the inception of its insurance operations in 2017, it has significantly scaled business, improved underwriting performance and generated consistent investment returns. The company aims to make insurance simple.
Through innovation and transparency, it believes in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. The company offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet his or her needs. Go Digit IPO is a book-built issue of Rs 2,614.65 crores. The issue is a combination of fresh issue of 4.14 crore shares aggregating to Rs 1,125.00 crores and offer for sale of 5.48 crore shares aggregating to Rs 1,489.65 crores. Go Digit IPO price band is set at ₹258 to ₹272 per share. The minimum lot size for an application is 55 Shares. ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, Hdfc Bank Limited, Iifl Securities Ltd and Nuvama Wealth Management Limited are the book running lead managers of the Go Digit IPO, while Link Intime India Private Ltd is the registrar for the issue.
Objectives of Go Digit IPO
The Company proposes to utilize the Net Proceeds towards the following objectives:
- 1. To undertake its existing business activities.
- 2. To undertake the activities proposed to be funded from the Net Proceeds. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, which, the company believes, will enhance the visibility and its brand image among its existing and potential customers.
Go Digit IPO Review
The insurance sector has witnessed sea change post Covid and rising awareness for the necessity of insurance is auguring well for novel companies with technical bases and new product portfolios that suit the requirements of prospects. The company has turned the corner from FY23 and is poised for bright prospects as indicated by its recent performance. Based on FY24 annualized earnings, the issue appears aggressively priced. The accounting jugglery of the insurance sector is difficult to understand by a layman and hence one has to keep an eye on its business growth and future prospects. Well-informed investors may park moderate funds for the long term rewards, others may avoid.
Go Digit General Insurance Limited IPO Financial Information
Latest Revenue
130.83
₹ Crore
Profit After Tax
129.02
₹ Crore
Net Worth
2,459.34
₹ Crore
Total Borrowing
200.00
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 3,619.95 | 130.83 | 129.02 | 2,459.34 | 200.00 | ||||
| 31 Mar 2023 | 3,346.75 | 39.19 | 35.54 | 2,325.47 | — | ||||
| 31 Mar 2022 | 2,919.01 | -293.64 | -295.85 | 1,866.87 | — | ||||
| 31 Mar 2021 | 1,874.80 | -118.55 | -122.76 | 1,134.57 | — | ||||
| Amount in ₹ Crore | |||||||||
Go Digit General Insurance Limited Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 5.25% |
| P/BV | 9.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.41 | 1.88 |
| P/E (x) | 670.31 | 145.03 |
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Competitive Strengths
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Go Digit General Insurance Limited IPO Timeline
| IPO Open Date | Wednesday, May 15, 2024 |
| IPO Close Date | Friday, May 17, 2024 |
| Basis of Allotment | Tuesday, May 21, 2024 |
| Initiation of Refunds | Wednesday, May 22, 2024 |
| Credit of Shares to Demat | Wednesday, May 22, 2024 |
| Listing Date | Thursday, May 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 17, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹14,960 |
| Retail (Max) | 13 | 715 | ₹194,480 |
| S-HNI (Min) | 14 | 770 | ₹209,440 |
| S-HNI (Max) | 66 | 3,630 | ₹987,360 |
| B-HNI (Min) | 67 | 3,685 | ₹1,002,320 |