Go Digit Insurance IPO opens on Wednesday. 10 things to know before subscribing to the issue
Go Digit Insurance will open for subscription on May 15 and close on May 17. Through the public offer, the company plans to raise around Rs 2,615 crore. Here are 10 things to know about Go Digit IPO before subscribing to the issue.
1) What is the business overview of Go Digit Insurance?
Go Digit is one of the leading digital full stack insurance companies, leveraging technology to power what it believes to be an innovative approach to product design, distribution, and customer experience for non-life insurance products.
Digital full stack insurance companies are licenced insurance operators or companies that have end-to-end digital capabilities and a digital-first approach across customers’ insurance value chain.
2) What is the industry overview of Go Digit Insurance?
The Indian non-life insurance industry contributed around $33.30 billion in GWP in FY23, showing a CAGR of 11.2% from FY18 to FY23. It is estimated that, as of nine months ended December 2023, non-life insurance contributed around $27.50 billion in GWP from $24.60 billion in GWP for the nine months ended December 2022, indicating positive growth momentum.
3) What is the size of Go Digit Insurance IPO?
The IPO comprises fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to 5.47 crore shares. Under the OFS, promoter Go Digit Infoworks and other existing shareholders will offload stakes while Virat Kohli and Anushka Sharma will remain investors.
4) What is the price band for Go Digit Insurance IPO?
The company has fixed a
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