Go Digit General Insurance Ltd. IPO

Go Digit General Insurance Ltd.

IPO Details

Bidding Dates

15 May - 17 May '24

Bidding Dates

Min. Investment

₹14,190

Min. Investment

Lot Size

55.00

Lot Size

Price Range

₹258 - ₹272

Price Range

Issue Size

1,364 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
    4.27x
  • Non-Institutional Investor
    7.24x
  • Qualified Institutional Buyers
    12.56x
  • Employees


About Company

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.

Important Dates - Go Digit Limited IPO

Application opens on 15th May 2024
Last date of application 17th May 2024
Date of Allotment 21st May 2024
Refund begins from 22nd May 2024
Credit of shares to Demat 22nd May 2024
Listing date 23rd May 2024


Go Digit Limited IPO Grey Market Premium

Date GMP
13th May Rs.37
12th May Rs.53
11th May Rs.65

Why should you invest in Go Digit General Insurance Ltd. IPO?

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.

 

Go Digit Limited IPO Noteworthy Highlights

The following goals are to be funded by the net proceeds from the issue, according to the company's proposal:

  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.
  4.  

Financial Snapshot - Go Digit Limited IPO

Check out the financial performance of Go Digit for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 1,874.80 crore Rs -118.55 crore Rs -122.76 crore
March 2022 Rs 2,919.01 crore Rs -293.64 crore Rs -295.85 crore
March 2023 Rs 3,346.75 crore Rs 39.19 crore Rs 35.54 crore


Go Digit General Insurance Ltd. IPO - SWOT Analysis

 Strengths

  1. Go Digit General Insurance offers a variety of insurance products for individuals and businesses, catering to a wider customer base.
  2. The company prioritises transparency to deliver a seamless customer experience. They do this by simplifying complex insurance processes to make it easier for customers.
  3. Its focus on innovation and technology streamlines the company’s value chain, which in turn benefits its customers, employees, and partners. 

Weaknesses

  1. Go Digit General Insurance is a relatively new player in the insurance market compared to established companies. This can lead to hesitation from some customers who may prefer brands with a longer history.
  2. The company has recorded financial losses in the past.
  3. Its reliance on technology can be a weakness if it faces technical glitches or cyber security threats.

Opportunities

  1. The Indian insurance market is growing rapidly, presenting Go Digit General Insurance with a vast potential customer base.
  2. The company can leverage technology to develop innovative insurance products and services, catering to niche markets.
  3. Leveraging artificial intelligence can help the company capitalise on new business opportunities.

Threats

  1. The Indian insurance sector is highly competitive with both established and new players vying for market share, which can threaten the company’s profitability. 
  2. Regulatory changes in the insurance industry can impact Go Digit General Insurance’s business model and profitability.



How to apply for Go Digit General Insurance Ltd. IPO?

You can apply for the Go Digit General Insurance Ltd. IPO in these ways:

UPI
Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

1. If you are an Existing TradeSmart demat account holder and wish to apply for an Go Digit General Insurance Ltd. click here.
2. If you don't have a TradeSmart Account? Sign up.

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Go Digit General Insurance Ltd. IPO FAQs

What are the opening and closing dates for Go Digit?

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

What is the price band for Go Digit?

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

What is the minimum and maximum lot size for Go Digit?

The minimum lot size is 55 shares.

Who are Go Digit's lead managers?

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.

Who is the registrar of the issue?

 Link Intime India Private Ltd is the registrar for Go Digit IPO.

When will the Go Digit allotment take place?

The finalisation of the basis of allotment for Go Digit will be done on May 21, 2024, and the allotted shares will be credited to investors’ demat accounts by May 22, 2024.

When and where will the Go Digit shares be listed?

The equity shares of Go Digit 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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