Go Digit IPO GMP Today: Latest GMP, IPO Date, Price

May 13, 2024 Trading 4 min read
Go Digit IPO GMP

Go Digit IPO: An Overview and Company Insight

Go Digit General Insurance, formerly known as Oben General Insurance Limited, was established in 2016. It is an insurance provider and focuses on using technology to simplify insurance processes and offer customer-centric solutions. Some of its products include motor, health, travel, and car insurance, which can be customised as per customer needs. It has firmly established itself as a top-tier Insurtech firm in India in India.

The company aims to simplify insurance products so that they can be easily understood by even 15-year-olds. Currently, the company’s business lines include 74 active products launched. As of December 31, 2023, it has active distribution sites in 24 Indian states and union territories. Go Digit General Insurance has a dedicated team of 3,957 employees, along with 473 active bots that help automate tasks for functions and partners.

Grey Market Premium Analysis and IPO Timelines: Go Digit IPO

Date GMP
May 13 ₹37
May 12 ₹53
May 11 ₹65
May 10 ₹70
May 9 ₹50

The last update for Go Digit IPO was on May 13, 2024, at 12:28 PM. The GMP is ₹37. The expected listing price of Go Digit IPO, with a price band of 272.00, is ₹309 (cap price + today’s GMP). 13.6% is the anticipated percentage gain or loss per share.

Pricing Details and Lot Size – Go Digit IPO

The price band for Go Digit is ₹258 to ₹272 per share.

Book-running Lead Managers and Registrar – Go Digit IPO

ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Ltd, and Nuvama Wealth Management Limited are the Book Running Lead Managers (BRLM) to the issue and Link Intime India Private Ltd is the registrar.

Offer for Sale and IPO Size Breakdown – Go Digit IPO

Valued at Rs 2,614.65 crores, the Go Digit IPO is a book-built issue which comprises a fresh issue of 4.14 crore shares amounting to Rs 1,125.00 crores and an offer for sale of 5.48 crore shares amounting to Rs 1,489.65 crores.

IPO Timelines at a Glance – Go Digit

Event Date
IPO Opening Date May 15, 2024
IPO Closing Date May 17, 2024
IPO Allotment Date  May 21, 2024
Initiation of Refunds May 22, 2024
Credit of Shares to Demat May 22, 2024
IPO Listing Date May 23, 2024

Utilisation of Fresh Issuance and New Projects –  Go Digit IPO

The offer’s objectives are to:

  1. To further its current business operations.
  2. To carry out the projects that are proposed to be funded from the Net Proceeds. 
  3. To become more visible and improve its reputation with both current and potential customers.

 

Conclusion

Go Digit General Insurance is known for its digital focus, customer-centric approach, and considerable growth in the Indian market. From motor and travel to health and property insurance, it offers a wide variety of customisable insurance products to meet the needs of a growing customer base.

Its GWP growth has been fastest in the market as it achieved approximately 37.5% from FY22 to FY23 while private non-life insurers (except standalone health insurers) achieved an average of 20.1% within the same period. Between the financial year ending with March 31, 2023 and March 31, 2022, the company saw a 113.35% revenue increase and a profit after tax (PAT) increase of 112.01%. The recent performance indicates bright prospects for the future.

 

Frequently Asked Questions – Go Digit 

What does Go Digit specialise in?

Go Digit specialises in offering various insurance products in India. Its range of services includes insurance policies like health insurance, motor insurance, travel insurance, and home insurance. It has taken an innovative approach to insurance and uses technology to simplify the insurance process for customers.

What is the primary purpose of Go Digit’s IPO?

The offer’s objectives are to further its current business operations, carry out the projects that are proposed to be funded from the Net Proceeds, and become more visible and improve its reputation with both current and potential customers.

Who are the lead managers for Go Digit’s IPO?

ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Ltd, and Nuvama Wealth Management Limited are the Book Running Lead Managers (BRLM) to the issue and Link Intime India Private Ltd is the registrar for Go Digit IPO.

How is the IPO structured in terms of new issuance and offer for sale (OFS)?

Valued at Rs 2,614.65 crores, the Go Digit IPO is a book-built issue which comprises a fresh issue of 4.14 crore shares amounting to Rs 1,125.00 crores and an offer for sale of 5.48 crore shares amounting to Rs 1,489.65 crores.

What is the lot size and minimum investment for retail investors in Go Digit’s IPO?

The minimum lot size is 55 shares. Retail investors are required to make a minimum investment of ₹14,960.

What is the price band for Go Digit’s IPO?

The price band for Go Digit IPO is ₹258 to ₹272 per share.

How has the Grey Market Premium (GMP) trend for Go Digit’s IPO?

The last update for Go Digit IPO was on May 13, 2024, at 12:28 PM. The GMP is ₹37. The expected listing price of Go Digit IPO, with a price band of 272.00, is ₹309 (cap price + today’s GMP). 13.6% is the anticipated percentage gain or loss per share.

When does the IPO open and close for application?

Go Digit IPO will open for subscription on May 15, 2024 and close May 17, 2024.

When is the allotment date for the Go Digit IPO?

The allotment date is set for May 21, 2024. 

When is Go Digit expected to be listed on the stock exchanges?

The equity shares of Go Digit IPO are anticipated to be listed on May 23, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).


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