Go Digit Soars 12% Above IPO Price After Debut

24 May 2024 , 08:36 AM

On May 23, Go Digit General Insurance debuted on the stock exchanges, launching at ₹286. That is a 5.14% premium over the ₹272 issue price.

After the Listing, the share price increased by an additional 7% to close at ₹305.65, an 12.37% increase.

Nine times as many people as possible signed up for the ₹2,614.65-Crore public offer, in which Anushka Sharma and Virat Kohli are investors. Bids for 50.76 Crore shares were received for the offer, compared to 5.28 Crore shares. In the retail category, 4.27 times subscriptions were made to the public issue. Bids were received for 7.24 times the quota that non-institutional investors were allowed to purchase. There were 12.56 times as many bids for the qualified institutional buyer (QIB) segment.

A combination of a new issue of 4.14 Crore shares valued at ₹1,125 Crore and an offer for sale of 5.48 Crore shares valued at ₹1,489.65 Crore make up the ₹2,614.65-Crore IPO.

Go Digit intends to use the net proceeds to finance the suggested activities that have been recognised as needing funding as well as to support its ongoing company operations. The company also expects that listing its equity shares on stock markets will improve its brand image and visibility with both current and new customers.

Go Digit is an insurance company that was founded in December 2016 and offers a range of products, including property, health, and travel insurance. 74 active goods have been introduced by the company across all of its business segments.

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