Go Digit IPO price band set at ₹258-₹272: Key dates to remember

Go Digit General Insurance Ltd IPO, which will open for subscription from May 15 to May 17, has set a price band of ₹258 to ₹272. The initial public offering consists of a fresh issue of equity shares worth ₹1,125 crore, along with an offer for sale (OFS) of 5.47 crore equity shares.

The bidding for anchor investors will take place on May 14. The lot size of the offer is 55 equity shares and in multiples after that.

The investors of the company include cricketer Virat Kohli and his actor wife, Anushka Sharma. However, according to the IPO documents, they are not selling any shares.

The Go Digit General Insurance IPO has set aside at least 75% of its shares for qualified institutional buyers (QIBs). Only up to 15% of its shares have been reserved for non-institutional investors (NIIs), while not more than 10% of the offer is available to retail investors.

The company will use the proceeds from the proposed IPO for general corporate purposes, maintain solvency levels, and improve its capital base.

The book-running lead managers for the issue are ICICI Securities, Axis Capital, Morgan Stanley India Company, HDFC Bank, IIFL Securities and Nuvama Wealth Management.

Go Digit IPO: Key dates

• Go Digit IPO date: May 15-May 17
• Price band: ₹258-₹272 per equity share
• Lot size: 55 shares and in multiples after that
• Share allotment: May 21
• Refund and credit of shares to demat: May 22
• Go Digit stock listing: May 23

About Go Digit

Go Digit offers a wide range of insurance products for vehicles, health, travel, property, marine and liability, among others.

It is among the first non-life insurance companies in India to operate entirely on the cloud platform. The company has also developed Application Programming Interface or API integrations with multiple channel partners.