About Go Digit General Insurance LimitedIncorporated in 2016, Go Digit General Insurance Limited is India’s largest digital full stack non-life insurance company. It offers motor, health, travel, property, marine, liability and other insurance products which can be customized by the customer. It has 74 active products across its business lines and holds a market share of 6% in the motor insurance segment as of 31 December 2023. It was one of the first companies to offer customizable insurance for flights delayed by 60 minutes, and group illness insurance for COVID-19 hospitalization costs. As of 31 December 2023, it is present in 24 states and union territories in India with a network of 61,972 key distribution partners including 58,532 POSPs (Point of Sales Person), individual agents, corporate agents, brokers and others. It also offers its products to customers through its website and web aggregators. It is one of the first non-life insurers in India to be fully operated on cloud and has had 1,883 API integrations with partners as of Q3 FY24. Its partners have issued 34.54 million policies with API integrations since its inception. It supports all its partners through the use of technology that allows it to onboard and work with them in a cost-efficient manner making it a scalable operating platform. It also invests the cash generated by its operations in securities in the Indian market that generated an average yield of 7.4% and 6.3% in Q3 FY24 and FY23, respectively. Between Q3 FY23 and Q3 FY24, it saw a rise of 954% in its total income and a loss of 82%. However, the non-life insurance industry is expected to grow at a CAGR of 15% to 16% between FY23 and FY28, which could be beneficial for the company. And now, Go Digit General Insurance Limited is coming out with its initial public offer (IPO). The IPO will be a fresh issue, aggregating to ₹1,125 crore, as well as an offer for sale, aggregating to ₹1,489 crore. The money raised from the fresh issue will be utilized to maintain its solvency ratio. Its shares will be listed on the NSE and BSE. Here are key details about the Go Digit General Insurance IPO:
Financial snapshot
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Here’s a quick look at Go Digit General Insurance Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)Strengths and opportunities
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Go Digit General Insurance Limited IPO details|Go Digit General Insurance Limited IPO dateAccording to the offer document filed by the company with the SEBI, the Go Digit General Insurance IPO’s opening date – in other words, the Go Digit General Insurance IPO launch date – will be 15th May 2024. The Go Digit General Insurance IPO closing date is 17th May 2024. After this, investors will be updated about the allotment status on 21st May 2024. Investors, who have been allotted shares, can expect them to be credited to their demat account on 22nd May 2024. The Go Digit General Insurance IPO listing date is 23rd May 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. |Go Digit General Insurance Limited IPO Price BandThe IPO is a fresh issue as well as an offer for sale. The Go Digit General Insurance IPO price band has been set between ₹258 and ₹272 per share. Interested investors can choose a price within this band to apply for the IPO. The Go Digit General Insurance IPO listing price will be determined on 23rd May 2024. The listing price is the price at which a company’s shares debut on the stock exchanges. |Go Digit General Insurance Limited IPO Lot size The Go Digit General Insurance IPO details have been declared. The Go Digit General Insurance IPO lot size is set at 55 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Go Digit General Insurance IPO issue size is approx ₹2,614 crore. |
How to pre-apply for the Go Digit General Insurance Limited IPO?You can pre-apply for the Go Digit General Insurance Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO:
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How to apply for the Go Digit General Insurance Limited IPO?If you are interested in this investment opportunity but unsure how to apply for the Go Digit General Insurance Limited IPO, here we are listing out the steps for you. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Go Digit General Insurance Limited IPO on Upstox:
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How to check the Go Digit General Insurance LimitedIPO allotment status?When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. Here’s a step-by-step guide on how to check the Go Digit General Insurance Limited IPO allotment status:
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Open a demat account with Upstox to apply for the Go Digit General Insurance Limited IPOTo apply for the Go Digit General Insurance Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app. Here is a step-by-step guide on how to open a demat account with Upstox:
This is all it takes to open a demat account with Upstox. Easy and quick, right?
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Upstox – trading app to apply for the Go Digit General Insurance Limited IPOApplying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. You can apply for the Go Digit General Insurance Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy. |
Pre-applying for the Go Digit General Insurance IPO means applying for this public issue before it goes live. Click here to pre-apply for the Go Digit General Insurance IPO on Upstox.
You can pre-apply for the Go Digit General Insurance IPO from 13th May, 2024. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.
You can apply on Upstox’s website and app, once the Go Digit General Insurance IPO opens for the subscription.
The Go Digit General Insurance IPO launch date is 15th May 2024. The Go Digit General Insurance IPO will be open for subscription till 17th May 2024.
The Go Digit General Insurance lot size is 55 shares and the minimum investment required is ₹14,190.
The Go Digit General Insurance IPO price band is ₹258 – ₹272 per share.
The size of the Go Digit General Insurance IPO is approx. ₹2,614 crore.
You can place up to three bids for an application.
No, the bids have to be placed in one go. If you want to add an additional bid, then you would have to delete your application and re-apply.
If shares are allotted, then they will be credited to your demat account on 22nd May 2024.
Go Digit General Insurance shares will be on NSE and BSE.
Go Digit General Insurance shares’ listing date is 23rd May 2024.