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Go Digit IPO
Go Digit IPO
IPO Details
Go Digit plans to come up with an ipo with a combination of fresh issue and OFS portion. The fresh issue will sum upto 1250 Crores by the company, and the offer for sale would be for 109,445,561 equity shares by existing shareholders.
The net proceeds from the fresh issue will be utilized for increasing the company's capital base and ensuring solvency levels are maintained.
Company Business
GoDigit is a digital full stack insurance player in India that offer insurance plans related to motor, health, travel, property, marine, liability and others.
They aim to simplify insurance using innovation and transparency to deliver seamless customer experience.
The gross proceeds from the ipo will be received by the selling shareholders.
The net proceeds will be utilized to improve the solvency ratio per the guidelines of IRDAI. (*As per IRDAI, an insurance industry needs to have adequate funds to meet its obligations to policyholders and hence it is asked to maintain an adequate solvency ratio.)
IPO Strengths
- Well recognized Brand
- Constantly growing industry
- They claim to analyze their customer profile that help them have quality customers and manage risk levels. At the same time they also analyze the insurance market to know what's trending.
- Net promoter score which depicts customer relationship is 78.0% as per mentioned in the RHP while the score is even higher when it comes to motor claims which is 86.4%. This denotes the company's ability to retain existing customers and build a long term relationship.
- Strong distribution network that includes individual agents, POSPs, corporate agents, motor insurance service providers (“MISPs”) and brokers.
IPO Weaknesses
- The company has incurred losses after tax in fiscal years 2020, 2021, and 2022, that estimates around Rs.175.243 crores, Rs. 122.764 crores, and Rs. 295.861 crores respectively.
- The insurance industry has general risks. For eg. an increasing no. of claims generally seen in times of natural calamities or human disasters, would hit the reserves and increase the liabilities to the company.
- The company, the promoters and the directors are involved in some legal proceedings which may adversely affect the business if they go against them.
- Too much reliability on motor vehicle insurance product. If any uncertainty arises around motor insurance the company will have a major effect.
- Negative cashflow.
- Inconsistent solvency ratio.
Revenue & Profit
-1.185 | -1.22764 |
-2.936 | -2.95851 |
+0.392 | 0.35547 |
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IPO Dates
| Open Date | 15 May , 2024 |
| Close Date | 17 May , 2024 |
| Allotment Date | 21 May , 2024 |
| Initiation of Refunds | 22 May 2024 |
| Credit of Shares to Demat Account | 22 May 2024 |
| Listing Date | 23 May 2024 |
IPO Lot Size
| Minimum Lot Size | 1 |
| To be announced |
Seize the Opportunity! Apply for Go Digit IPO
Free Demat Account Opening
Zero AMC Charges for First Year
Low DP Charges (Rs. 10 only)
Free IPO Report & Advisory
Go Digit IPO Subscription Breakup
| QIBs | 75% |
| Non Institutional Investors | 15% |
| Retail Investors | 10% |
How to Apply for Go Digit IPO?
Step 1
First, you need to visit the IPO section on our website.
Step 2
Then, click on the 'IPO Listing' option to view the IPO.
Step 3
Open the Go Digit IPO by tapping on it.
Step 4
You will see an option to subscribe that you need to click on.
Step 5
Now that you can see the IPO details, you must enter details like cut-off price, number of lots, and UPI ID.
Step 6
Next, verify your details and select the 'Subscribe' option to complete the bidding.
You have completed your bidding for the Go Digit IPO. Log in and go to the 'IPO Transactions' section to track your allotment status.