Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
₹3500.00 crore
Investor category and sub category
To be announced
IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
To be announced
Closing Date
To be announced
Basis of Allotment
To be announced
Initiation of Refunds
To be announced
Credit of Shares to Demat
To be announced
Listing Date
To be announced
UPI Mandate Confirmation Cut-off Time
To be announced
About Go Digit Insurance IPO
Go Digit is a digital full-stack insurance company - a leading player in the domain with ownership of approximately 82.9% of Gross Written Premiums (GWP) written by the Indian digital insurance players.
Go Digit leverages technology to deliver a seamless customer experience. Using the Go Digit platform, a combination of insurance and technology solutions, customers can find customised solutions for their insurance needs for non-life insurance products. The platform is built to assist in enrollment, insurance claims processing, underwriting, policy administration, data insights, and fraud detection.
Go Digit is the largest full-stack digital insurer in India regarding Gross Written Premiums.
Go Digit IPO details
Go Digit has got approval from the market regulator to float an initial public offering. The total IPO size of Rs. 3,500 crore includes Rs. 1,250 crore in fresh equities and an offer of 109,445,561 shares in offer for sale.
Go Digit Insurance IPO Objective
- The company will utilise the net proceeds from the IPO to augment its capital base.
Should you invest in Go Digit Insurance?
These are the top reasons to consider investing in Go Digit Insurance:
- Go Digit is one of the top 10 general insurers in India. It is the largest among full-stack digital insurance players regarding Gross Written Premiums.
- Go Digit had written Rs. 52.68 billion or 82.9% of GWP written by all full-stack digital insurance players in Fiscal 2022.
- Go Digit’s GWP grew between 2020 and 2022 by 52.9%, while the industry growth rate was 8.3% from 2018 to 2022.
Competitive Peers
Other players in the market recognised by Go Digit Insurance Ltd. include Star Health and Allied Insurance Company Ltd. and ICICI Lombard General Insurance Company Ltd.
Go Digit Insurance Noteworthy Highlights
- It has an established track record of delivering growth in GWP. The GWP between 2020 and 2022 grew at 52.9% CAGR from Rs. 22.52 billion in 2020 to Rs. 52.68 billion.
- There is a significant decrease in the net expense ratio from 42.4% in fiscal 2020 to 38.7% in 2022.
- A healthy solvency ratio of 2.01 times on March 31, 2022, against the IRDA limit of 1.50 times signifies financial stability through careful investments.
IPO Financials
| Particulars | Year ending on March 31, 2022 | Year ending on March 31, 2021 | Year ending on March 31, 2020 |
|---|---|---|---|
| Gross Written Premium | 52,676.33 | 32,433.88 | 22,523.47 |
| Revenue from Operations | 52,676.33 | 32,433.88 | 22,523.47 |
| Profit After Tax (PAT) | (2,958.61) | (1,227.64) | (1,752.43) |
| EBITDA | (2,834.11) | (1,137.93) | (1,687.01) |
| EBITDA % | (5.38) | (3.51) | (7.49) |
| EPS (basics) | (3.55) | (1.50) | (2.41) |
| As at March 31, 2022 | As at March 31, 2021 | As at March 31, 2020 | |
| Total Current Asset | 6,518.68 | 4,714.87 | 3,300.78 |
| Current Liabilities | 57,518.35 | 32,363.51 | 19,304.24 |
Know before investing
Strengths
3
It’s a full-stack Digital insurance company offering a high-quality user experience.
A nimble organisational structure to support a scalable business model.
Using AI and machine learning, it offers enhanced efficiency to its distributors.
Risks
3
The company has reported losses and may not become profitable in future.
Inability to underwrite risks efficiently.
Limited operational history might prevent investors from evaluating future business prospects.
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Go Digit General Insurance, backed by Canadian billionaire Prem Wasta’s Fairfax Group has received a green signal from the market regulator to issue an initial public offering. According to the latest information available, the offer size is close to Rs. 3,500 crore. The company intends to raise Rs. 1,250 crore via fresh issues and offers 109,445,561 shares in an offer for sale.
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