Go Digit General Insurance Limited is one of the leading digital full-stack insurance companies, leveraging technology to power an innovative approach to product design, distribution and customer experience for non-life insurance products.
The company offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products, which the customers can customize to meet their needs.
As a digital full-stack insurance company, the company deploys a combination of insurance and technology solutions to assist in enrolment, insurance claims processing, underwriting, policy administration, data insights, and fraud detection. It is one of the fastest-growing insurers among the top 10 private general insurers in terms of Gross Written Premium.
The company has currently launched a total of 74 active products across all its business lines. As of December 31, 2023, the company had about 61,972 partners, including 58,532 POSPs and other agents.
As of December 31, 2023, the company had a distribution centers in 24 states and union territories in India. As of December 31, 2023, the company currently operates 75 offices throughout India.
As of March 31, 2023 and December 31, 2023, the company had 3,333 and 3,957 employees, respectively.
Go Digit General Insurance IPO – Details
| IPO Opening Date | 15 May 2024 |
| IPO Closing Date | 17 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 9,61,26,686 Shares Worth ₹2,614.65 Crore Fresh Issue: 4,13,60,294 Shares Worth ₹1125.00 Crore Offer For Sale: 5,47,66,392 Shares Worth ₹1,489.65 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹258 – ₹272 |
| Market Lot | 55 Shares |
| Min Order | 55 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Go Digit General Insurance IPO – Date Schedule
| IPO Open Date | 15 May 2024 |
| IPO Close Date | 17 May 2024 |
| Basis of Allotment Date | 21 May 2024 |
| Initiation of Refund | 22 May 2024 |
| Credit of Shares to Demat Account | 22 May 2024 |
| IPO Listing Date | 23 May 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 17, 2024 |
Go Digit General Insurance IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹14,960 |
| Retail (Max) | 13 | 715 | ₹1,94,480 |
| S-HNI (Min) | 14 | 770 | ₹2,09,440 |
| S-HNI (Max) | 66 | 3,630 | ₹9,87,360 |
| B-HNI (Min) | 67 | 3,685 | ₹10,02,320 |
Competitive Strengths
- Simple and Tailored Customer Experience.
- Company’s Focus on Empowering its Distribution Partners.
- Predictive Underwriting Models.
- Advanced Technology Platform.
- A nimble organization with a skilled and experienced management team.
Company Promoters
- Kamesh Goyal
- Go Digit Infoworks Services Private Limited
- Oben Ventures LLP
- FAL Corporation
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | -118.54 | 4.21 | -122.76 | – |
| 31 March 2022 | -293.64 | 2.21 | -295.85 | – |
| 31 March 2023 | 39.18 | 3.64 | 35.54 | – |
| 31 December 2023 | 130.83 | 1.81 | 129.01 | 200.00 |
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 5.25% |
| P/BV | 9.67 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 0.41 | 1.88 |
| P/E (x) | 670.31 | 145.03 |
Object Of The Issue
- 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 the Equity Shares on the Stock Exchanges, which, the company believes, will enhance the visibility and its brand image among its existing and potential customers.
Go Digit General Insurance IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | New India Assurance Company Limited | 38.47 |
| 2 | 10 | Star Health and Allied Insurance Company Limited | 53.79 |
| 3 | 10 | ICICI Lombard General Insurance Company Limited | 48.14 |
Go Digit General Insurance IPO Promoter Holding
| Pre Issue Share Holding | 83.31% |
| Post Issue Share Holding | – |
Go Digit General Insurance IPO Prospectus
Company Contact Information
| Go Digit General Insurance Limited 1 to 6 Floor Ananta One Pride Hotel Lane Narveer Tanaji Wadi City Survey No.1579 Shivajinagar~ Pune 411005 ,Maharashtra- India Phone: +91 20 67495400 Email: cs@godigit.com Website: https://www.godigit.com/ |
Go Digit General Insurance IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: godigit.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Go Digit General Insurance IPO Lead Manager(s)
| 1. Axis Capital Limited 2. HDFC Bank Limited 3. IIFL Securities Limited 4. ICICI Securities Limited 5. Nuvama Wealth Management Limited 6. Morgan Stanley India Company Private Limited |
Go Digit General Insurance IPO FAQs
| What is Go Digit General Insurance IPO? Go Digit General Insurance IPO is a main-board IPO. The issue is priced at ₹258 to ₹272 per equity share. The IPO is to be listed on BSE & NSE. |
| When Go Digit General Insurance IPO will open? The IPO is to open on 15 May 2024 for QIB, NII, and Retail Investors. |
| What is Go Digit General Insurance IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Go Digit General Insurance IPO? You can apply Go Digit General Insurance IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Go Digit General Insurance IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Go Digit General Insurance”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Go Digit General Insurance IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Go Digit General Insurance“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Go Digit General Insurance IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Go Digit General Insurance”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Go Digit General Insurance IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Go Digit General Insurance”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Go Digit General Insurance IPO Size? Go Digit General Insurance IPO size is ₹2614.65 Crore. |
| What is Go Digit General Insurance IPO Price Band? Go Digit General Insurance IPO Price Band is ₹258 to ₹272. |
| What is Go Digit General Insurance IPO Minimum and Maximum Lot Size? The minimum bid is 55 Shares with ₹14,960 amount while the maximum bid is 715 Shares with ₹1,94,480. |
| What is the Go Digit General Insurance IPO Allotment Date? Go Digit General Insurance IPO allotment date is 21 May 2024. |
| What is the Go Digit General Insurance IPO Listing Date? Go Digit General Insurance IPO listing date is 23 May 2024. The IPO is to list on BSE and NSE. |
