Go Digit IPO: Check Issue Date, Price, Lot Size & Company Financial

IPO Details

Bidding Dates

15 May '24 - 17 May '24

Minimum Investment

₹14,960 / 1 Lots ( 55 Shares )

Price Range

₹258 - ₹272

Maximum Investment

₹194,480 / 13 Lots ( 715 Shares )

Retail Discount

Not Applicable

Issue Size

₹2,614.65 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

Go Digit IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 15, 24

IPO Closing Date

May 17, 24

Basis of Allotment

May 21, 24

Initiation of Refunds

May 22, 24

Credit of Shares to Demat

May 22, 24

Listing Date

May 23, 24

UPI Mandate Confirmation Cut-off Time

May 17, 24

Go Digit IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1May 14, 2024	0.00x	0.35x	1.50x	0.37x
Day 2May 15, 2024	0.24x	0.73x	2.57x	0.80x

Go Digit IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	8.88
Non-Institutional Buyers	4.04
Retail Investors	3.67
Total	6.61

About Go Digit General Insurance Ltd.

Established in December 2016, Go Digit General Insurance Limited is a prominent insurance provider in India, offering a diverse range of insurance products, including motor, health, travel, property, marine, and liability insurance.

With 74 active products across various business lines, the company boasts a robust network of partners, including 58,532 POSPs and agents as of December 31, 2023.

With 75 offices across India and distribution centres in 24 states and union territories, Go Digit leverages technology to drive product design, distribution, and customer experience innovation. As of December 31, 2023, the company had 473 active bots automating tasks for functions and partners.

Recognised as a leading digital full-stack non-life insurance company, Go Digit captured a significant market share, accounting for 82.1% of GWPs in the Financial Year 2023.

The company's focus on simplifying insurance documentation is evidenced by research indicating readability even for 15-year-olds, ensuring accessibility and clarity for policyholders. Committed to customer-centricity and technological advancement, Go Digit continues redefining India's insurance landscape.

Industry Outlook:

India's non-life insurance penetration rate stood at 1.0% in the Financial Year 2023, far below the global average of 4.0%, indicating substantial growth potential.
With a non-life insurance density of US$ 23.00 per capita in FY 2023, India lags behind global peers significantly, highlighting untapped market opportunities.

Go Digit IPO Details

Go Digit IPO Date

Go Digit General Insurance IPO is open from May 15, 2024, to May 17, 2024. The IPO will be listed on BSE, NSE.

Go Digit General Insurance Ltd Price Band

Go Digit General Insurance is a book built issue IPO. The price band is set ₹258 to ₹272 per share.

Go Digit IPO Lot Size

The lot size for Go Digit General Insurance Limited’s IPO is 55 shares with a minimum investment of ₹14,960.

Go Digit IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Maintenance of solvency ratio
Meet offer expenses

Peer Details

The companies considered by Go Digit General Insurance as its peers include:

New India Assurance Company Limited
Star Health and Allied Insurance Company Limited
ICICI Lombard General Insurance Company Limited

How to Check the Allotment Status of the Go Digit IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Go Digit General Insurance Limited

Registered office: 1 to 6 Floor, Ananta One, Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivajinagar, Pune 411005, Maharashtra, India

Phone: +91 20 67495400

Email: cs@godigit.com

Go Digit General Insurance Financials

Particulars	9-Month period Ending on December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Assets Under Management (in ₹ million)	149,090.11	126,683.59	93,938.75	55,901.11
Revenue from Operations (in ₹ million)	66,796.78	72,429.85	52,676.33	32,433.88
Profit After Tax (PAT) (in ₹ million)	1,290.17	355.47	(2,958.51)	(1,227.64)
Cash & Cash Equivalents (in ₹ million)	1,220.78	2,790.51	1,465.18	1,598.87
Net Worth (in ₹ million)	24,593.43	23,254.68	18,668.65	11,345.71
Solvency Ratio(x)	1.60	1.78	2.01	2.01
Retention Ratio (x)	84.3	81.6	79.4	81.2
Return on Equity (%)	5.3%	1.5%	(15.9)%	(10.8)%
GWP (in ₹ million)	66,796.78	72,429.85	52,676.33	32,433.88
Diluted Earning Per Share (EPS)-in absolute ₹	1.46	0.40	(3.55)	(1.50)

Know before investing

Strengths

Go Digit offers customizable products, achieving high net promoter scores of 73.3% for non-claims and 93.1% for motor claims.
The company tailors customer journeys and provides access to tools, training, and self-service options, managing more than 600 POSPs per relationship manager.
Leveraging extensive data and AI, Go Digit accurately assesses risk, automates underwriting, and identifies profitable business, enhancing strategic decision-making.
With 473 active AI-driven microsystems, Go Digit streamlines processes, offers paperless solutions, and introduces innovative products, maintaining an agile, customer-centric approach.

Risks

Go Digit General Insurance faces profitability challenges due to historical losses, uncertain future prospects, and potential difficulty in evaluating business performance.
The company's operating results are volatile, with fluctuating profit/loss figures and low operating profit ratios, indicating operational instability and potential financial strain.
Inadequate loss reserves estimation poses a significant risk, potentially leading to increased liabilities, pricing adjustments, and adverse effects on financial condition.
Exposure to catastrophic events, including natural disasters and terrorism, may result in substantial claims, investment losses, and operational disruptions, impacting financial stability adversely.