Go Digit IPO subscribed 79% on second day: Check latest updates and insights

Go Digit IPO has been subscribed only 79% on the second day of bidding on Thursday, May 16.

The initial public offer received bids for over 4.17 crore shares compared to 5.28 crore shares on offer, according to the NSE data.

The issue was subscribed 2.54 times in the retail category, with bids for 2.43 crore shares against the 96.12 lakh shares reserved for the category. In the NIIs (Non Institutional Investors) category, the issue was subscribed 73%. The NIIs applied for 1.04 crore shares against the 1.44 crore shares reserved for the category.

In the QIBs’ (Qualified Institutional Buyers) segment applications for over 68.65 lakh shares were received compared to 2.88 crore shares set aside for the segment. The QIBs’ segment was booked only 24%.

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Go Digit IPO allotment status and listing date

The mainboard IPO opened for subscription on Wednesday, May 15 and will close on Friday, May 17. Go Digit shares will be allotted to bidders who have bid successfully on May 21. Refunds will be initiated on May 22, to bidders who have not been allotted shares.

Shares of the Virat Kohli-backed general insurance firm will get listed on the NSE and BSE with a tentative listing date scheduled as May 23.

Go Digit IPO Key details

The Go Digit IPO price band has been fixed at ₹258 to ₹272 per share. The minimum investment for the IPO is 1 lot of 55 shares which amounts to ₹14,960. The insurance company seeks to raise ₹2,614.65 crore via the IPO.

The IPO comprises a fresh issue of 4.14 crore shares to raise ₹1,125 crore and an offer for sale of 5.48 crore shares which amount to ₹1,489.65 crore.

The book running lead managers of Go Digit IPO include ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Ltd and Nuvama Wealth Management Limited. Link Intime India Private Ltd is the IPO registrar.

About Go Digit General Insurance Ltd

Go Digit General Insurance Limited provides its customers a wide portfolio of insurance products such as motor insurance, health insurance, travel insurance and other such products. The promoters of the company include Kamesh Goyal, GoDigit Infoworks Services Private Limited, Oben Ventures LLP And FAL Corporation.

The insurance firm plans to use the money raised via the IPO for undertaking its existing business activities and expects the listing on stock exchanges to improve its visibility and brand image.

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