Go Digit IPO
Go Digit IPO open for bidding on 15th May 2024, and ends on 17th May 2024.
Established in 2016, Digit Insurance is a pioneering force in India’s insurance landscape, aiming to simplify the complex realm of insurance. With a clear vision of making insurance understandable even to a 15-year-old, Digit has swiftly carved a niche for itself by offering easy-to-understand products and leveraging technology to streamline operations.
The company’s full-stack digital approach, encompassing sourcing, underwriting, and servicing in-house, has propelled its market presence, capturing approximately 4.3% of the non-life insurance market by the end of 2023. Through its relentless focus on innovation, transparency, and customer-centricity, Digit has emerged as the largest digital full-stack insurance player in India.
As it prepares to go public, Digit’s exceptional growth trajectory and commitment to simplicity and efficiency underscore its promising outlook in India’s evolving insurance landscape.
For more details refer to Go Digit IPO RHP
Go Digit IPO Details
| IPO Date | 15th May 2024 to 17th May 2024 |
| Listing Date | 23rd May 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹258 to ₹272 per share |
| Lot Size | 55 Shares |
| Total Issue Size | 9,61,26,686 shares (aggregating up to ₹2614.65 Cr) |
| Fresh Issue | 4,13,60,294 shares (aggregating up to ₹1,125.00 Cr) |
| Offer for Sale | 5,47,66,392 shares of ₹10 (aggregating up to ₹1489.65 Cr) |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 4,32,57,009(45%) |
| QIB | 2,88,38,007(30%) |
| NII | 1,44,19,002(15%) |
| bNII | 96,12,668(10%) |
| sNII | 48,06,334(5%) |
| Retail | 96,12,668(10%) |
| Total | 9,61,26,686(100%) |
Go Digit IPO Timeline
| IPO Open | 15th May 2024 |
| IPO Close | 17th May 2024 |
| Basis Of Allotment | 21th May 2024 |
| Initiation of Refunds | 22th May 2024 |
| Credit of Shares to Demat | 22th May 2024 |
| Listing Date | 23th May 2024 |
Fundamentals
Data as of 31st December 2023
| Market Cap | ₹24,947.9 Cr | P/E Ratio- Pre IPO | 670.31 |
| RoNW% | 5.25 | P/E Ratio- Post IPO | 145.03 |
| RoCE | – | P/B Ratio | 9.67 |
| Debt to Equity | – | PAT Margin% | – |
Go Digit IPO Objectives
Company proposes to utilise the Net Proceeds towards funding of the following objects:
- 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 of the Equity Shares on the Stock Exchanges, which, they believe, will result in enhancement of their visibility and the brand image among existing and potential customers.
