Go Digit IPO Was Subscribed 0.37x on Day 1

The Go Digit General Insurance Limited IPO opened for subscription on May 15, 2024, and will close on May 17, 2024. The Go Digit IPO is a book-built issue of ₹2,614.65 crore. It is a combination of a fresh issue of 4.14 crore shares aggregating to ₹1,125.00 crore and an offer for sale of 5.48 crore shares aggregating to ₹1,489.65 crore.

The price band of the Go Digit IPO has been set at ₹258 to ₹272 per share. The minimum lot size for an application is 55 Shares. The minimum amount of investment required by retail investors is ₹14,960. The minimum lot size investment for sNII is 14 lots (770 shares), amounting to ₹2,09,440, and for bNII, it is 67 lots (3,685 shares), amounting to ₹10,02,320.

Day Wise Subscription

On the 1st day of subscription, i.e. May 15, 2024, the IPO was subscribed 0.37x. QIBs subscribed 0.00x, NIIs 0.35x, and retail investors subscribed 1.48x.

Grey Market Premium

Go Digit General Insurance IPO’s GMP is ₹20. With a price of ₹272.00, Go Digit General Insurance IPO’s estimated listing price is ₹292 (cap price + today’s GMP). The expected percentage gain/loss per share is 7.35%.

Go Digit Business Overview

Established in December 2016, Go Digit General Insurance Limited is an insurance provider that offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other products that customers can customise to meet their needs.

The company has greatly expanded its activities, enhanced underwriting capabilities, and produced steady investment returns since its insurance operations began in 2017. It continues to have a wide distribution network as of December 31, 2023, including 24 of India’s 36 states and union territories. It had connections with over 61,972 Key Distribution Partners as of December 31, 2023, including roughly 58,532 POSPs, in addition to individual agents, corporate agents, brokers, and others.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.