Go Digit IPO will open for subscription from 15 May 2024. The company aims for an issue size of ₹2,614.65 Cr through this IPO.
Company Overview
| Full name | Go Digit General Insurance Limited |
| Sector | Finance |
| Industry | Insurance |
| Company Website | https://www.godigit.com/ |
About Company
Go Digit is a prominent player among digital full-stack insurance companies, commanding about 82.5% of Gross Written Premiums (GWP) generated by Indian digital insurance players. Leveraging technology, Go Digit General Insurance adopts an innovative approach to product design, distribution, and customer experience for non-life insurance products. It offers a comprehensive range of insurance products such as motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other customizable options tailored to meet the diverse needs of its customers.
As of 31 December 2023, the company had 43.26 million customers who have availed of insurance benefits under various policies issued since the inception of its insurance operations in 2017. As of the same date, the company launched 74 active products across all business lines.
Go Digit’s Gross Written Premium (GWP) stood at INR 66.80 billion and INR 52.88 billion for the nine-month periods ending 31 December 2023, and 31 December 2022, respectively, reflecting a growth of 26.3%. In Fiscal 2023, 2022, and 2021, the GWP amounted to INR 72.43 billion, INR 52.68 billion, and INR 32.43 billion, respectively, representing a Compound Annual Growth Rate (CAGR) of 49.4% from Fiscal 2021 to Fiscal 2023. As of 31 December 2023, and 31 March 2023, the company employed 3,957 and 3,333 individuals, respectively, excluding undergraduate trainees and contract staff. All employees were based in India.
The Objectives of the Issue
- To undertake its existing business activities; and
- 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 Timetable
| IPO Opening date | 15 May 2024 |
| IPO Closing | 17 May 2024 |
| Basis of Allotment | 21 May 2024 |
| Initiation Refund | 22 May 2024 |
| Credit to Demat Account | 22 May 2024 |
| Listing Date | 23 May 2024 |
Go Digit IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹2,614.65 Cr – 96,126,686 shares |
| Fresh Issue | ₹1,125.00 Cr – 41,360,294 shares |
| Offer for sale | ₹1,489.65 Cr – 54,766,392 Shares |
| Face value | ₹10 per share |
| Price Band | ₹258 to ₹272 per share |
| Lot size | 55 Shares |
| Shareholding pre-issue | 875,842,046 |
| Shareholding post-issue | 917,202,340 |
| Listing Exchange | BSE & NSE |
Go Digit IPO Lot Size
| Application | Lots | Shares | 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 |
Go Digit IPO Documents
Go Digit IPO Reservation Details
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 43,257,009 (45.00%) | NA |
| QIB Shares Offered | 28,838,007 (30.00%) | NA |
| NII (HNI) Shares Offered | 14,419,002 (15.00%) | |
| bNII > ₹10L | 9,612,668 (10.00%) | 12,483 |
| sNII < ₹10L | 4,806,334 (5.00%) | 6,241 |
| Retail Shares Offered | 9,612,668 (10.00%) | 174,775 |
| Total Shares Offered | 96,126,686 (100%) |
Go Digit Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Premium Earned | 1,943.69 | 3,404.23 | 5,163.67 | 5,114.61 |
| Operating income | (185.49) | (375.14) | (66.28) | (10.12) |
| Net income | (122.76) | (295.85) | 35.55 | 129.02 |
Go Digit Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | (1.40) | (3.38) | 0.41 | 1.88 |
| PE Ratio | – | – | 635.60 – 670.09 | 137.56 – 145.02 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | (10.82) | (15.85) | 1.53 |
| NAV | 12.95 | 21.32 | 26.55 |
| ROE (%) | (10.82) | (15.85) | 1.50 |
| EBITDA (%) | (3.5) | (5.4) | 0.7 |
Company Promoters
- Kamesh Goyal
- GoDigit Infoworks Services Private Limited
- Oben Ventures LLP
- FAL Corporation.
Promoter Holding
| Pre Issue Share Holding | 83.31% |
| Post Issue Share Holding |
Go Digit IPO GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 22 May 2024 | 25 | – | 800 |
| 21 May 2024 | 25 | – | 800 |
| 20 May 2024 | 15 | – | 500 |
| 18 May 2024 | 10 | – | 400 |
| 17 May 2024 | 10 | – | 600 |
| 16 May 2024 | 20 | – | 1,000 |
| 15 May 2024 | 43 | – | 1,800 |
| 14 May 2024 | 43 | – | 1,800 |
| 13 May 2024 | 55 | 600 | 2,000 |
| 11 May 2024 | 60 | 700 | 2,500 |
| 10 May 2024 | 50 | – | – |
Go Digit IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 2,88,38,007 | 1,44,19,002 | 96,12,668 | 5,28,69,677 |
| 17 May 2024 | 12.56 | 7.23 | 4.26 | 9.60 |
| 16 May 2024 | 0.24 | 0.73 | 2.54 | 0.79 |
| 15 May 2024 | 0.00 | 0.34 | 1.44 | 0.36 |
Go Digit IPO Allotment Status
Go Digit Insurance IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Go Digit IPO Listing Details
| Listing Date | 23 May 2024 |
| BSE Scrip Code | 544179 |
| NSE Symbol | GODIGIT |
| ISIN | INE03JT01014 |
| Final Issue Price | ₹272 per share |
Go Digit IPO Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹272.00 | ₹272.00 |
| Open | ₹281.10 | ₹286.00 |
| Low | ₹281.10 | ₹280.00 |
| High | ₹314.00 | ₹314.00 |
| Last Trade | ₹305.75 | ₹306.00 |
Go Digit IPO Lead Manager(s)
- ICICI Securities Limited
- Morgan Stanley India Company Pvt Ltd
- Axis Capital Limited
- HDFC Bank Limited
- IIFLSecurities Ltd
- Nuvama Wealth Management Limited
Go Digit Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 8114949
Email: godigit.ipo@linkintime.co.in
Website: www.linkintime.co.in
Go Digit Contact Details
GO DIGIT GENERAL INSURANCE LIMITED
Atlantis, 95, 4th B Cross Road,
Koramangala Industrial Layout,
5th Block, Bengaluru 560095, Karnataka
Phone: +91 20 67495400
Email: cs@godigit.com
Website: www.godigit.com
Go Digit IPO FAQs
How many shares in Go Digit Insurance IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply in Go Digit Insurance Public Offer?
The best way to apply for Go Digit public offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Go Digit Insurance Offer GMP today?
Go Digit Insurance IPO GMP today is ₹ 25 per share.
What is Go Digit Insurance kostak rate today?
Go Digit Insurance kostak rate today is ₹ NA per application.
What is Go Digit Insurance Subject to Sauda rate today?
Go Digit Insurance Subject to Sauda rate today is ₹ 800 per application.
Final thoughts
Go Digit IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
