Go Digit IPO – Go Digit General Insurance Limited

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 nameGo Digit General Insurance Limited
Company Websitehttps://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 date15 May 2024
IPO Closing17 May 2024
Basis of Allotment21 May 2024
Initiation Refund22 May 2024
Credit to Demat Account22 May 2024
Listing Date23 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 17, 2024)

Go Digit IPO details

Issue typeBook 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 size55 Shares
Shareholding pre-issue875,842,046
Shareholding post-issue917,202,340
Listing ExchangeBSE & NSE

Go Digit IPO Lot Size

Retail (Min)155₹14,960
Retail (Max)13715₹194,480
S-HNI (Min)14770₹209,440
S-HNI (Max)663,630₹987,360
B-HNI (Min)673,685₹1,002,320

Go Digit IPO Documents

Go Digit IPO Reservation Details

Investor CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered43,257,009 (45.00%)NA
QIB Shares Offered28,838,007 (30.00%)NA
NII (HNI) Shares Offered14,419,002 (15.00%)
  bNII > ₹10L9,612,668 (10.00%)12,483
  sNII < ₹10L4,806,334 (5.00%)6,241
Retail Shares Offered9,612,668 (10.00%)174,775
Total Shares Offered96,126,686 (100%)

Go Digit Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Premium Earned1,943.693,404.235,163.675,114.61
Operating income(185.49)(375.14)(66.28)(10.12)
Net income(122.76)(295.85)35.55129.02
(Amount in ₹ Crores)

Go Digit Valuations & Margins

FY 2021FY 2022FY 2023
(Pre Issue)
FY 2024
PE Ratio635.60 – 670.09137.56 – 145.02
(* Calculated based on annualized Profits After Tax for FY 2024)
FY 2021FY 2022FY 2023
RONW (%)(10.82)(15.85)1.53
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 Holding83.31%
Post Issue Share Holding

Go Digit IPO GMP Update

DateDay-wise IPO GMPKostakSubject to Sauda
22 May 202425800
21 May 202425800
20 May 202415500
18 May 202410400
17 May 202410600
16 May 2024201,000
15 May 2024431,800
14 May 2024431,800
13 May 2024556002,000
11 May 2024607002,500
10 May 202450

Go Digit IPO Subscription Update

Shares Offered2,88,38,0071,44,19,00296,12,6685,28,69,677
17 May 202412.567.234.269.60
16 May 20240.240.732.540.79
15 May 20240.000.341.440.36

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 Date23 May 2024
BSE Scrip Code544179
Final Issue Price₹272 per share

Go Digit IPO Listing Day Update

Listing ExchangeBSENSE
Final Issue Price₹272.00₹272.00
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

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

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

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