Strong financials, steady growth will help Digit’s public listing sail through: Kamesh Goyal
Insurance startup Digit is betting on strong financials, steady growth and a diversified business model to help its public listing sail through, founder Kamesh Goyal, said on the sidelines of a pre-IPO (Initial Public Offering) press meet in Bengaluru.
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At a time when startups are struggling to show profits, seven-year-old Digit has reported Rs 129 crore of profit after tax till December FY2024, compared to Rs 10 crore in the same period last year.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIn terms of gross written premium, Digit processed Rs 6,679 crore worth premium till December FY24, up 26% from Rs 5,288 crore a year ago.
Also read | Digit to go public on May 15, looking to raise Rs 1,125 crore
Valuation ask
At the current revenue, the company is seeking a multiple of 680 times, compared to its peers in the insurance industry which are trading at multiples of 48 times.
Goyal believes that growth, profitability and the scale of operations — all built on new generation technology within a short span of time — will help it command the current revenue multiples.
The company’s IPO opens on May 15 at a price band of Rs 258 to Rs 272, thereby going public at a valuation of $3 billion to $3.2 billion.
While it had attained a valuation of $4
