Go Digit General Insurance Limited IPO

Mainboard

General Insurance

Listed On: May 23, 2024 at ₹ 286.0(NSE)

₹ 14960 /55 Shares

Check Allotment

Price Summary

Last Closing

345.70 (27.1%)

52 Week High

407.40

52 Week Low

278.55

Last Update

19-Sep-2024 3:30 PM

Go Digit General Insurance Limited IPO Details

15 May, 2024

Open Date

17 May, 2024

Close Date

21 May, 2024

Allotment Date

23 May, 2024

Listing Date

Issue Price

₹258-272 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

286.0(NSE)

Listing Date

2024-05-23

Market Lot

Retail : 55 Shares (₹14,960/-)
S-HNI : 770 Shares (₹2,09,440/-)
B-HNI : 3,685 Shares (₹10,02,320/-)

Lead Manager

ICICI Securities Limited
Morgan Stanley India Company Pvt Ltd
Axis Capital Limited
Edelweiss Financial Services Ltd
Hdfc Bank Limited
Iifl Securities Ltd

Issue Size

Total ₹2,614.65 Cr :
#Fresh Issue : 41,360,294 shares(aggregating up to ₹1,125.00 Cr) +
#OFS : 54,766,392 shares of ₹10(aggregating up to ₹1,489.65 Cr)

Retail Portion

10% (Number of Retail Applications: 1,74,775 Approx),
(Number of S-HNI Applications : 6,242 Approx),
(Number of B-HNI Applications : 12,484 Approx)

Subscription

9.60 times

IPO Docs

DRHP RHP ANCHOR

Go Digit General Insurance Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	28,838,007	14,419,002 9,612,668 4,806,334	9,612,668	52,869,677
Day 1 - 15-05-24 05:00 PM	0.00 x	0.35 0.31 x 0.42 x	1.49 x	0.37 x
Day 2 - 16-05-24 05:00 PM	0.24 x	0.73 0.64 x 0.90 x	2.54 x	0.79 x
Day 3 - 17-05-24 05:00 PM	12.56 x	7.23 8.28 x 5.14 x	4.26 x	9.60 x

Total No. of Applications: 5,84,799 (Approx)

Retail Subscription on the basis of Applications: Retail:3.35x BHNI:1.56x SHNI:4.74x times

Go Digit General Insurance Limited Valuations

Earnings Per Share (EPS)

₹N/A/-

P/E Ratio

N/A

RoNW

N/A%

Net Asset Value (NAV) - As on 31.03.22

₹N/A

Go Digit General Insurance Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	3,346.75	2,919.01	1,874.80
Revenue	39.19	-293.64	-118.55
Profit After Tax	35.54	-295.85	-122.76

About The Company

Go Digit General Insurance Limited is an insurance provider offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which customers can customize to meet their needs.

The company has currently launched a total of 74 active products across all its business lines.

As of December 31, 2023, the company had about 61,972 partners, including 58,532 POSPs and other agents.

As of December 31, 2023, the company had a distribution centers in 24 states and union territories in India.

As of Dec 31, 2023, company had 473 active bots to automate tasks for functions and partners.

As of December 31, 2023, the company currently operates 75 offices throughout India.

Go Digit General Insurance Limited - Strength and Weakness

Strength

Go Digit offers customizable products, achieving high net promoter scores of 73.3% for non-claims and 93.1% for motor claims.

The company tailors customer journeys and provides access to tools, training, and self-service options, managing more than 600 POSPs per relationship manager.

Leveraging extensive data and AI, Go Digit accurately assesses risk, automates underwriting, and identifies profitable business, enhancing strategic decision-making.

With 473 active AI-driven microsystems, Go Digit streamlines processes, offers paperless solutions, and introduces innovative products, maintaining an agile, customer-centric approach.

Weakness

Go Digit General Insurance faces profitability challenges due to historical losses, uncertain future prospects, and potential difficulty in evaluating business performance.

The company's operating results are volatile, with fluctuating profit/loss figures and low operating profit ratios, indicating operational instability and potential financial strain.

Inadequate loss reserves estimation poses a significant risk, potentially leading to increased liabilities, pricing adjustments, and adverse effects on financial condition.

Exposure to catastrophic events, including natural disasters and terrorism, may result in substantial claims, investment losses, and operational disruptions, impacting financial stability adversely.

Go Digit General Insurance Limited - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Go Digit General	9.80	161.43	1.53%	N/A
New India Assurance	1.32	39.0	4.07%	41,007
Star Health & Allied	4.68	37.2	13.9%	12,096
ICICI Lombard	6.70	42.7	16.9%	17,876

Go Digit General Insurance Limited - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

Kamesh Goyal
GoDigit Infoworks Services Private Limited
Oben Ventures LLP And FAL Corporation

Go Digit General Insurance Limited IPO - Issue Objectives

To undertake its existing business activities
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, we believe, will result in the enhancement of the visibility and its brand image among its existing and potential customers.

Go Digit General Insurance Limited IPO - Anchor Investors

Go Digit raises Rs 1,176 crore from anchor investors.

Go Digit has raised about Rs 1,176 crore in its follow-on public offering from 56 anchor investors including Fidelity, Abu Dhabi Investment Authority (ADIA) and hedge fund Bay Pond Partners.

This included the American multinational Fidelity Investments-backed fund which got the highest allocation of 7.95 percent, followed by Goldman Sachs Funds (5.31 percent), ADIA (5.31 percent), Custody Bank of Japan (4.25 percent) and Bay Pond Partners (4.11 percent).

Other Details

Company Contact Details

Go Digit General Insurance Limited

1 to 6 Floor, Ananta One, Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579 Shivajinagar, Pune 411005

Phone: +91 20 67495400

Email: cs@godigit.com

Website: https://www.godigit.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: godigit.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Go Digit General Insurance Limited IPO - FAQs

Ans. Go Digit General Insurance Limited IPO is a Mainboard IPO. The issue is priced at ₹258-272 per equity share. The minimum order quantity is 55 Shares. The IPO opens on May 15, 2024, and closes on May 17, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Go Digit General Insurance Limited IPO opens on May 15, 2024 and closes on May 17, 2024.

Ans. The size of Go Digit General Insurance Limited IPO is Total ₹2,614.65 Cr : #Fresh Issue : 41,360,294 shares(aggregating up to ₹1,125.00 Cr) + #OFS : 54,766,392 shares of ₹10(aggregating up to ₹1,489.65 Cr).

Ans. The IPO price band is set between ₹258-272 per equity share.

Ans. To apply for Go Digit General Insurance Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Go Digit General Insurance Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Go Digit General Insurance Limited IPO is May 21, 2024.

Ans. The Go Digit General Insurance Limited IPO will be listed on May 23, 2024.

Ans. Follow the steps to check the allotment status for Go Digit General Insurance Limited IPO here.