GO DIGIT GENERAL INSURANCE LIMITED
₹ 258 - ₹ 272
15-May-2024 - 17-May-2024
₹ 14960.00

/ 55 Shares

GO DIGIT GENERAL INSURANCE LIMITED

15-May-2024 - 17-May-2024

₹ 258 - ₹ 272

Price Band

₹ 14960.00

Minimum Investment

55

Bid Lot

96,126,686

Shares

  • Face Value - ₹ 10/- Per Share

  • Listing at NSE BSE

  • 174,775 Application Required in Retail for 1 Time.

  • Registrar : Link Intime India Private Ltd

IPO Details

Fresh Issue aggregating upto Rs. 1,125 Cr and Offer For Sale Up to 54,766,392 Equity Shares

Category % Shares/Amount
QIB 75% 72,095,016 Shares Rs.1960.98 Cr
HNI 1 5% 4,806,344 Shares Rs.130.73 Cr @ 6242 Form 1X
HNI 2 10% 9,612,668 Shares Rs.261.46 Cr @ 12484 Form 1X
Retail 10% 9,612,668 Shares Rs.261.46 Cr @ 174776 Form 1X

BRLMs: Axis Capital, ICICI Securities, Morgan Stanley India, HDFC Bank, IIFL Securities, Nuvama Wealth

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
174776 Form 1X 6242 Form 1X 12484 Form 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 55 ₹ 14,960
Retail (Upto 2 Lakh) 13 715 ₹ 194,480
S-HNI (2 Lakh to 10 Lakh) 14 770 ₹ 209,440
S-HNI (2 Lakh to 10 Lakh) 66 3630 ₹ 987,360
B-HNI (Above 10 Lakh) 67 3685 ₹ 1,002,320

IPO Timeline

  • Open Date

    15-May-2024

  • Close Date

    17-May-2024

  • Basis of Allotment Date

    21-May-2024

  • Initiation of Refunds

    22-May-2024

  • Credit Shares to Demat A/c

    22-May-2024

  • IPO Listing Date

    23-May-2024

Subscription as on
18-May-2024 09:54

Category Book Size Subscription No. of Times
QIB 28,838,007 ₹ 784.39 Cr. 121,197,835 ₹ 3296.58 Cr. 4.20x
HNI (<10 LAKH) 4,806,344 ₹ 130.73 Cr. 11,418,660 ₹ 310.59 Cr. 2.38x
HNI2 (>10 LAKH) 9,612,668 ₹ 261.46 Cr. 33,096,140 ₹ 900.22 Cr. 3.44x
RETAIL 9,612,668 ₹ 261.46 Cr. 21,521,060 ₹ 585.37 Cr. 2.24x
Total 52,869,687 187,233,695 3.54x
Category Book Size Subscription No. of Times
QIB 28,838,007 ₹ 784.39 Cr. 121,197,835 ₹ 3296.58 Cr. 4.20x
HNI (<10 LAKH) 4,806,344 ₹ 130.73 Cr. 11,418,660 ₹ 310.59 Cr. 2.38x
HNI2 (>10 LAKH) 9,612,668 ₹ 261.46 Cr. 33,096,140 ₹ 900.22 Cr. 3.44x
RETAIL 9,612,668 ₹ 261.46 Cr. 21,521,060 ₹ 585.37 Cr. 2.24x
Total 52,869,687 187,233,695 3.54x

*Excluding Anchor

Total No. of Application Approx : ~294227 (1.68 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • The Company was incorporated as ‘Oben General Insurance Ltd’ in 2016 and subsequently, the name was changed to ‘Go Digit General Insurance Ltd’, in 2017. The company’s promoters are Kamesh Goyal, Go Digit Infoworks Services Pvt. Ltd, Oben Ventures LLP and FAL. (The promoter of FAL is Fairfax Financial Holdings Limited).
  • Go Digit General Insurance (Go Digit) is one of the leading digital full stack insurance companies, leveraging technology to provide innovative approach to product design, distribution, and customer experience for non-life insurance products.
  • Go Digit General Insurance offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which customers can customize as per their needs.
  • In 9 months ended December 31,2023 & FY2023, Go Digit catered for ~82.5% & 82.1%, respectively, of the GWPs written by the digital full stack insurance players (including Go Digit, Acko and Navi) making the company, the largest digital full stack insurance player in India.
  • Go Digit was the fastest growing Pvt. non-life insurers by GWP from FY2022 to FY2023, growing by ~ 37.5%, while the Pvt. non-life insurers (excluding standalone health insurers) overall grew by ~ 20.1% during the same period.
  • As of FY 2024, the company’s “Digit Insurance” mobile application has a Google rating of 4.7 out of 5.0 with over 0.22+ million reviews, and a Facebook rating of 4.9 out of 5.0 with over 27,000+ reviews.
  • The company has launched 74 active products across all business lines. The company has achieved a market share of 6.0% and 5.4% respectively as of 9 months ended December 31, 2023, and FY2023, in the motor insurance segment which was one of the largest non-life insurance segments in India as of FY2023.
  • On Technology front, the company has been one of the first non-life insurers in India to be fully operated on cloud. The company had 1,883 API integrations with partners as of December 31, 2023, with 34.54 million policies issued by partners with API integrations since inception to December 31, 2023.
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Strengths

Competitive Strength 

  • Simple and Tailored Customer Experience
  • Focus on empowering the distribution partners
  • Predictive Underwriting Models
  • Ability to automate underwriting
  • A nimble organization with a skilled and experienced management team

 Business Strategies 

  • Be known as a leader in customer service
  • Acquire new customers across the current products in the Indian non-life insurance market
  • Grow the product portfolio to meet Indian market needs and drive further adoption across product suite
  • Expand into new geographies within India
  • Optimize customer experience and boost operating leverage through continued investment in technology
  • Drive more accurate pricing in the insurance industry

Company Promoters

Kamesh Goyal is the Non-Executive Chairman of the Company and a nominee of GDISPL and has been a Director of the Company since its incorporation. Jasleen Kohli is the MD& CEO of the Company. Chandran Ratnaswami is a Non–executive Director of the Company and a nominee of FAL. Rajendra Beri is an Independent Director of the Company. Vandana Gupta is an Independent Director of the Company. Vandana Gupta is an Independent Director of the Company. Ravi Khetan is the Chief Financial Officer of

Company Financials

Go Digit General Insurance Limited's revenue increased by 113.35% and profit after tax (PAT) rose by 112.01% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Dec 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 3,619.95 3,346.75 2,919.01 1,874.80
Revenue 130.83 39.19 -293.64 -118.55
Profit After Tax 129.02 35.54 -295.85 -122.76
Net Worth 2,459.34 2,325.47 1,866.87 1,134.57
Reserves and Surplus 2,391.97 2,383.61 1,975.07 973.14
Total Borrowing 200.00      
Amount in ? Crore

Objects of the Issue

The Company proposes to utilise the Net Proceeds towards the following objects

  1. To undertake its existing business activities; and
  2. 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.

How to Apply

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  • Step 01 :

    Once you create your account, Login to Us.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with Us, in just a few clicks your application is processed. You can bid for any IPO through Us, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
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  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
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Frequently Asked Questions

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