Go Digit General Insurance Ltd IPO Opens On May 15. Check IPO Details Issue Date Price.


Go Digit General Insurance Ltd IPO Opens On May 15. Check IPO Details Issue Date Price.

May 14, 2024
Go Digit General Insurance Ltd IPO Opens On May 15. Check IPO Details Issue Date Price.

Go Digit General Insurance Limited is coming out with a public issue to raise Rs 2615 crores from the market.

Below are the details of the Go Digit General Insurance Limited IPO:

  • Issue opens – May 15 (Wednesday)
  • Issue closes – May 17 (Friday)
  • Issue size – Rs 2615 crores
  • Price band – Rs 258 to 272 per equity share
  • Bid lot – 55 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

  • Go Digit General Insurance Limited aim to make insurance simple. Through innovation and transparency, they believe in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. They are one of the leading digital full stack insurance companies, leveraging their technology to power what they believe to be an innovative approach to product design, distribution and customer experience for non-life insurance products. Full-Stack Insurers are insurance firms that are fully licensed and controlled by a regulatory authority and perform sourcing, underwriting and servicing all in-house. Digital full stack insurers are insurance manufacturing companies that focus on integrating technology in their operations. They offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet his or her needs.
  • As a digital full stack insurance company, they deploy a combination of insurance and technology solutions to assist in enrolment, insurance claims processing, underwriting, policy administration, data insights and fraud detection. As a testament to their success, according to the RedSeer Report (page 35) which has been commissioned and paid for by their Company exclusively in connection with the Offer, they were the fastest growing insurer among private non-life insurers by GWP from Financial Year 2022 to Financial Year 2023, growing by approximately 37.5% over the period while the private non-life insurers (excluding standalone health insurers) overall grew by approximately 20.1% during the same period.
  • As at December 31, 2023, there were 43.26 million people who were their customers or people who have availed the insurance benefits under various policies they issued since the inception of their insurance operations in 2017. Of this 43.26 million, 27.74 million customers acquired in motor insurance product, 14.97 million customers acquired in health insurance products (including personal accident & travel) and 0.55 million customers acquired in other insurance products. They have an established track record of delivering growth.
  • As of December 31, 2023, they maintain a broad distribution footprint across 24 of the 36 states and union territories in India. As of December 31, 2023, they had relationships with approximately 61,972 Key Distribution Partners, including approximately 58,532 POSPs, as well as individual agents, corporate agents, brokers and others. An insurance agent is a representative of the insurance company whereas an insurance broker is an intermediary between the insurance company and the customer

Issue Size: Rs. 2615 crores

Issue break-up:

  • QIB – 75% of the net offer – Rs 1960.98 crores
  • NIB – 15% of the net offer – Rs 392.20 crores
  • RET – 10% of the net offer – Rs 261.46 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Friday, May 17, 2024

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