Go Digit IPO to open next week; here's what GMP signals ahead of subscription
₹65 in the grey market, according to market observers. This indicates that the anticipated listing price for Go Digit IPO shares could be ₹65, representing a 23.9 percent increase over the IPO price of ₹337. Also read: Go Digit IPO: At ₹7 crore, Virat Kohli, Anushka Sharma to make multibagger return of 263% on issue launch According to investorgain.com, the lowest Grey Market Premium (GMP) for the Go Digit IPO stands at ₹50, with the highest GMP reaching ₹70.
'Grey market premium' indicates investors' readiness to pay more than the issue price. Among the investors in the company are cricketer Virat Kohli and his actor wife, Anushka Sharma. However, as per the IPO documents, they are not divesting any shares.
The IPO aims to raise over ₹2,615 crore, with a price band of ₹258 to ₹272 per share. The IPO comprises a fresh issue of shares worth ₹1,125 crore along with an offer for sale (OFS) of 54,766,392 shares. Investors can bid for up to a maximum of 55 equity shares, with increments of 55 shares thereafter.
Also read: Virat Kohli-backed Go Digit General Insurance IPO announces price band at ₹258-272 apiece; check GMP, issue size, more The IPO allocation designates 75 percent for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and the remaining 10 percent for retail investors. The proceeds from the proposed IPO will be allocated towards general corporate purposes, bolstering solvency levels, and enhancing the company's capital base. ICICI Securities, Axis Capital, Morgan Stanley India Company, HDFC Bank, IIFL Securities, and Nuvama Wealth Management serve as the book-running lead managers for the issue.Milestone Alert!
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