Go Digit Limited IPO opens today: Know price band, subscription and important dates

Go Digit General Insurance IPO opened for subscription on Wednesday, May 15. It’s a book-built issue of ₹2,614.65 crore. The IPO of the insurance start-up consists of a fresh issue of 4.14 crore shares, aggregating to ₹1,125 crore, along with an offer for sale component of 5.48 crore shares, amounting to ₹1,489.65 crore.

The Go Digit IPO will be listed both on the BSE and NSE.

Go Digit IPO Date

The subscription window for the Go Digit Limited IPO is open till May 17. This marks the date till when interested investors can apply.

Following the closure of the bidding period, the basis of allotment for the IPO is scheduled for May 21. On May 22, the initiation of refunds to unsuccessful applicants and the credit of shares to demat accounts of successful applicants are scheduled.

Finally, May 23, which is the Go Digit IPO listing date, will mark the Virat-Kohli-backed insurer’s debut on the stock exchanges.

Go Digit IPO share price

The Go Digit IPO price band has been set at ₹258 to ₹272 per share. The minimum Go Digit IPO lot size for an application is 55 shares. This translates to a minimum investment requirement of ₹14,960 for retail investors at upper price band of the issue.

ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Ltd and Nuvama Wealth Management Limited have been appointed as the book-running lead managers for the Go Digit IPO.

Link Intime India Private Ltd has been designated as the registrar for the issue.

Go Digit IPO details

The Go Digit IPO includes an offer for sale by several selling shareholders. Go Digit Infoworks Services Private Limited intends to divest up to 5.47 crore equity shares through this offering. Among the selling shareholders, Nikita Mihir Vakharia, jointly with Mihir Atul Vakharia, is offering up to 4,000 equity shares.

Additionally, Nikunj Hirendra Shah, jointly with Sohag Hirendra Shah, is planning to offload up to 3,778 equity shares. Subramaniam Vasudevan, jointly with Shanti Subramaniam, intends to divest up to 3,000 equity shares.

Go Digit IPO objectives

Go Digit Limited plans to use the net proceeds from the IPO primarily towards maintaining the company’s solvency ratio by investing in instruments as per the IRDAI Actuarial and Allied Regulations, 2024. The company will also continue its current business operations with these funds.

By listing its equity shares on the stock exchanges, the company expects to boost visibility and improve its brand image among existing and potential customers.

Go Digit Limited operates as an insurance provider, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other customisable insurance solutions.