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Go Digit IPO is a book built issue of Rs 2,614.65 crores. The issue is a combination of fresh issue of 4.14 crore shares aggregating to Rs 1,125.00 crores and offer for sale of 5.48 crore shares aggregating to Rs 1,489.65 crores.
Go Digit IPO bidding started from May 15, 2024 and ended on May 17, 2024. The allotment for the Go Digit IPO is expected to be finalized on Tuesday, May 21, 2024. Go Digit IPO will list on BSE, NSE with tentative listing date fixed as Thursday, May 23, 2024.
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 minimum lot size investment for sNII is 14 lots (770 shares), amounting to ₹209,440, and for bNII, it is 67 lots (3,685 shares), amounting to ₹1,002,320.
ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, Hdfc Bank Limited, Iifl Securities Ltd and Nuvama Wealth Management Limited are the book running lead managers of the Go Digit IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Go Digit IPO RHP for detailed information.
| IPO Date | May 15, 2024 to May 17, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹258 to ₹272 per share |
| Lot Size | 55 Shares |
| Total Issue Size | 96,126,686 shares (aggregating up to ₹2,614.65 Cr) |
| Fresh Issue | 41,360,294 shares (aggregating up to ₹1,125.00 Cr) |
| Offer for Sale | 54,766,392 shares of ₹10 (aggregating up to ₹1,489.65 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 875,842,046 |
| Share holding post issue | 917,202,340 |
Go Digit IPO offers 96,126,686 shares. 28,838,007 (30.00%) to QIB, 14,419,002 (15.00%) to NII, 9,612,668 (10.00%) to RII and 43,257,009 (45.00%) to Anchor investors. 174,775 RIIs will receive minimum 55 shares and 6,241 (sNII) and 12,483 (bNII) will receive minimum 770 shares. (in case of oversubscription)
| 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 IPO raises Rs 1,176.59 crore from anchor investors. Go Digit IPO Anchor bid date is May 14, 2024. Go Digit IPO Anchor Investors list
| Bid Date | May 14, 2024 |
| Shares Offered | 43,257,009 |
| Anchor Portion Size (In Cr.) | 1,176.59 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 20, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 19, 2024 |
Go Digit IPO opens on May 15, 2024, and closes on May 17, 2024.
| IPO Open Date | Wednesday, May 15, 2024 |
| IPO Close Date | Friday, May 17, 2024 |
| Basis of Allotment | Tuesday, May 21, 2024 |
| Initiation of Refunds | Wednesday, May 22, 2024 |
| Credit of Shares to Demat | Wednesday, May 22, 2024 |
| Listing Date | Thursday, May 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 17, 2024 |
Investors can bid for a minimum of 55 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
The promoter of the company are Kamesh Goyal, GoDigit Infoworks Services Private Limited, Oben Ventures LLP And FAL Corporation.
| Share Holding Pre Issue | 83.31% |
| Share Holding Post Issue |
Incorporated in December 2016, 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.
As of March 31, 2023 and December 31, 2023, the company had 3,333 and 3,957 employees, respectively.
Go Digit General Insurance Limited's revenue increased by 113.35% and profit after tax (PAT) rose by 112.01% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,619.95 | 3,346.75 | 2,919.01 | 1,874.80 |
| Revenue | 130.83 | 39.19 | -293.64 | -118.55 |
| Profit After Tax | 129.02 | 35.54 | -295.85 | -122.76 |
| Net Worth | 2,459.34 | 2,325.47 | 1,866.87 | 1,134.57 |
| Reserves and Surplus | 2,391.97 | 2,383.61 | 1,975.07 | 973.14 |
| Total Borrowing | 200.00 | |||
| Amount in ₹ Crore | ||||
The market capitalization of Go Digit IPO is Rs 24947.9 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| RoNW | 5.25% |
| P/BV | 9.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.41 | 1.88 |
| P/E (x) | 670.31 | 145.03 |
The Company proposes to utilise the Net Proceeds towards the following objects
[Dilip Davda] The insurance sector has witnessed sea change post Covid and rising awareness for necessity of insurance is auguring well for novel companies with technical base and new product portfolio that suits the requirements of prospects. The company has turned the corner from FY23 and is poised for bright prospects as indicated by its recent performance. Based on FY24 annualized earnings, the issue appears aggressively priced. The accounting jugglery of insurance sector is difficult to understand by a layman and hence one has to keep an eye on its business growth and future prospects. Well-informed investors may park moderate funds for the long term rewards, others may avoid. Read detail review...
The Go Digit IPO is subscribed 9.60 times on May 17, 2024 6:19:06 PM. The public issue subscribed 4.27 times in the retail category, 12.56 times in the QIB category, and 7.24 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 12.56 |
| NII | 7.24 |
| bNII (bids above ₹10L) | 8.28 |
| sNII (bids below ₹10L) | 5.15 |
| Retail | 4.27 |
| Total | 9.60 |
Total Application : 585,348 (3.35 times)
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/
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
Lead Manager Reports
Go Digit IPO is a main-board IPO of 96,126,686 equity shares of the face value of ₹10 aggregating up to ₹2,614.65 Crores. The issue is priced at ₹258 to ₹272 per 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.
Zerodha customers can apply online in Go Digit IPO using UPI as a payment gateway. Zerodha customers can apply in Go Digit IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Go Digit IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Go Digit IPO opens on May 15, 2024 and closes on May 17, 2024.
Go Digit IPO lot size is 55 Shares, and the minimum amount required is ₹14,960.
You can apply in Go Digit IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Go Digit IPO will be done on Tuesday, May 21, 2024, and the allotted shares will be credited to your demat account by Wednesday, May 22, 2024. Check the Go Digit IPO allotment status.
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