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Go Digit IPO Was Subscribed 0.79x on Day 2

17 May 20243 mins read by Angel One
On the second day, Go Digit IPO subscribed 0.79x. The public issue subscribed 2.56x in the retail category, 0.24x in QIB, and 0.73x in the NII category.
Go Digit IPO Was Subscribed 0.79x on Day 2
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

The general insurance company Go Digit IPO witnessed increased interest from retail investors on the second day of bidding. The minimum lot size for an application is 55 Shares. The minimum amount of investment required by retail investors is ₹14,960. The minimum lot size investment for sNII is 14 lots (770 shares), amounting to ₹2,09,440, and for bNII, it is 67 lots (3,685 shares), amounting to ₹10,02,320.

Go Digit IPO offers 9,61,26,686 shares. 2,88,38,007 (30.00%) to QIB, 1,44,19,002 (15.00%) to NII, 96,12,668 (10.00%) to RII and 4,32,57,009 (45.00%) to Anchor investors. 1,74,775 RIIs will receive a minimum of 55 shares, and 6,241 (sNII) and 12,483 (bNII) will receive a minimum of 770 shares.

Day Wise Subscription

Day 1 (May 15, 2024) Day 2 (May 16, 2024)
QIB 0.00x 0.24x
NII 0.35x 0.73x
Retail 1.50x 2.57x
Total 0.37x 0.79x

Grey Market Premium

Go Digit General Insurance IPO’s GMP is ₹7. With a price of ₹272.00, Go Digit General Insurance IPO’s estimated listing price is ₹279 (cap price + today’s GMP). The expected percentage gain/loss per share is 2.57%.

Go Digit Business Overview

Go Digit General Insurance Ltd. (GDGIL) is one of the leading digital full-stack non-life insurance companies. It leverages its technology to power what the company believes to be an innovative approach to product design, distribution, and customer experience for non-life insurance products.

The company also offers products directly to customers through its website, as well as through web aggregators. This distribution strategy allows it to capture customers’ interest during key life moments, such as purchasing a new car or home and mitigate geographic limitations. Its dispersed granular distribution network complements digital capabilities and digitally enabled network partners across 24 states and union territories in India as of December 31, 2023.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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