Go Digit IPO Was Subscribed 9.60x on Day 3

The general insurance company Go Digit IPO closed on May 17, 2024, and the allotment for the IPO is expected to be finalised on May 21, 2024. The Go Digit IPO will list on BSE and NSE on May 23, 2024.

Go Digit has appointed ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, Hdfc Bank Limited, IIFL Securities Ltd, and Nuvama Wealth Management Limited as the book-running lead managers of the IPO. At the same time, Link Intime India Private Ltd is the registrar for the issue.

The Go Digit IPO price band is 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 company will use the funds from the IPO to fund its existing business activities, and those proposed will be funded from the Net Proceeds.

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Go Digit General Insurance IPO’s GMP is ₹10. With a price of ₹272.00, its estimated listing price is ₹282 (cap price + today’s GMP). The expected percentage gain/loss per share is 3.68%.

Go Digit Business Overview

Go Digit General Insurance Ltd. (GDGIL) is one of the leading digital full-stack non-life insurance companies. The company offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products that customers can customise to meet their needs. For the last three financial years, the company has reported an average EPS of Rs. – (1.23) and an average RoNW of – (6.32) %.

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.