What you must know about Go Digit General Insurance IPO?
by 5paisa Research Team
13 May 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 23-May-24
- IPO Price Range ₹258
- Listing Price ₹281.1
- Listing Change 3.3 %
- Last Traded Price ₹330.2
- Current Change 21.4 %
Go Digit IPO Details
- Open Date 15-May-24
- Close Date 17-May-24
- Lot Size 55
- IPO Size ₹ 2,614.65 Cr
- IPO Price Range ₹ 258 to ₹ 272
- Min Investment ₹ 14,960
- Listing Exchange BSE, NSE
- Basis of Allotment 21-May-24
- Refunds 22-May-24
- Credit to Demat Account 22-May-24
- Listing Date 23-May-24
Go Digit IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 15-May-24 | 0.00 | 0.35 | 1.49 | 0.37 |
| 16-May-24 | 0.24 | 0.73 | 2.56 | 0.79 |
| 17-May-24 | 12.56 | 7.24 | 4.27 | 9.60 |
Go Digit IPO Synopsis
Last Updated: 17th May 2024, 06:00 PM by 5paisa
Go Digit Insurance IPO is set to open from 15th May to 17th May 2024. It is a digital full-stack insurance company. The IPO includes a fresh issue of 41,360,294 equity shares worth ₹1125 cr. and an Offer-for-Sale (OFS) of 54,766,392 shares worth ₹1,489.65 cr. The total IPO size is ₹2,614.65 cr. The share allotment date is 21st May 2024, and the IPO will be listed on 23rd May 2024 on the stock exchanges. The price band is set at ₹258 to ₹272 and the lot size is 55 shares.
ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Go Digit IPO
● To maintain the solvency ratio.
Go Digit IPO Video
Go Digit IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 2,614.65 |
| Offer for sale | 1,489.65 |
| Fresh issue | 1,125.00 |
Go Digit IPO Lot Size
| 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 |
Go Digit IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 12.56 | 2,88,38,007 | 36,22,69,545 | 9,853.732 |
| NII (HNI) | 7.24 | 14,419,002 | 10,43,40,610 | 2,838.065 |
| Retail | 4.27 | 9,612,668 | 4,10,11,300 | 1,115.507 |
| Total | 9.60 | 52,869,677 | 50,76,21,455 | 13,807.304 |
Go Digit IPO Anchor Allocation
| Anchor Bid Date | 14 May, 2024 |
| Total no. of shares offered | 43,257,009 |
| Portion Size for Anchor Investors | 1,176.59 Cr. |
| Lock in Period for 50% shares (30 days) | 20 June, 2024 |
| Lock in Period for rest of shares (90 days) | 19 August, 2024 |
About Go Digit
Established in 2016, Go Digit Limited is a digital full-stack insurance company. The company uses technology to innovate, design, distribute, and offer a seamless experience to customers for non-life insurance products. The company is a licensed insurance operator and has end-to-end capabilities to offer insurance completely online.
From the first three quarters of FY2024 and FY2023, Go Digit had around 82.5% equaling ₹ 66.80 billion and 82.1% equalling ₹ 72.43 billion, respectively, of the GWPs written by digital full-stack insurance companies. This is more than its pees, making it the largest digital full stack insurance company in India.
Insurance products offered by the company include motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.
Peer Comparison
● The New India Assurance Company Limited
● Star Health And Allied Insurance Company Limited
● ICICI Lombard General Insurance Company Limited
For More Information:
Webstory on Go Digit IPO
Go Digit Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 7242.98 | 5267.63 | 3243.38 |
| EBITDA | 50.68 | -283.40 | -113.79 |
| PAT | 35.54 | -295.85 | -122.76 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 13489.55 | 10047.72 | 6004.11 |
| Share Capital | 874.01 | 859.01 | 824.69 |
| Total Borrowings | 11137.24 | 8154.50 | 4827.42 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 2249.75 | 2478.99 | 1563.36 |
| Net cash from / (used in) investing activities | -2514.28 | -3487.20 | -1636.61 |
| Net cash flow from / (used in) financing activities | 397.07 | 994.83 | 158.87 |
| Net increase (decrease) in cash and cash equivalents | 132.53 | -13.36 | 85.63 |
Go Digit IPO Key Points
-
Strengths
1. The company offers a simple and tailored customer experience.
2. It also has a strong focus on empowering our distribution partners.
3. It has developed predictive underwriting models.
4. It has built a technology-enabled platform.
5. Experienced management team.
-
Risks
1. The company had reported losses in the past.
2. It has to meet the mandatory control level of solvency margin as prescribed under the Insurance Act and is subject to regulatory actions.
3. It is subject to extensive supervision and regulatory inspections.
4. A majority of revenue comes from motor vehicle insurance.
5. It also faces risks related to underwriting.
6. High working capital requirements.
7. It has reported negative cash flows in the past.
Go Digit
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Go Digit IPO FAQs
When does Go Digit IPO opens and closes?
Go Digit IPO opens from 15th May to 17th May 2024.
What is the size of Go Digit IPO?
The size of Go Digit IPO is ₹2,614.65 cr.
How to apply for Go Digit IPO?
To apply for Go Digit IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for Go Digit IPO
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of the IPO?
The price band is set at ₹258 to ₹272 per share.
What is the minimum lot size and investment required for Go Digit IPO?
The minimum lot size is 55 shares and the minimum investment required to apply for the IPO is ₹14,190.
What is the allotment date of Go Digit IPO?
The share allotment date is 21st May 2024.
What is Go Digit IPO listing date?
The IPO will be listed on 23rd May 2024.
Who are the book runners for Go Digit IPO?
ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited are the book-running lead managers for this IPO.
What is the objective of Go Digit IPO?
Go Digit Limited will use the proceeds from the IPO for:
● To maintain the solvency ratio.
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