Go Digit IPO Details and Timeline
Go Digit General Insurance, a new age insurance company backed by Prem Watsa’s Fairfax group, is set to launch its initial public offering (IPO) next week. The company has received approval from the Securities and Exchange Board of India (Sebi) to launch the IPO after multiple delays.
The IPO is expected to launch on May 15, with the price band of the issue to be declared on May 10. The anchor book is likely to open on May 14. Go Digit aims to raise ₹1,500 crore through the IPO, which includes a fresh share sale of ₹1,250 crore and an offer-for-sale (OFS) of up to 10.94 crore equity shares aggregating to up to ₹250 crore by its promoters and existing shareholders.
Company Background and Shareholders
Go Digit General Insurance offers a diverse range of insurance products, including motor, health, travel, property, and marine insurance. Notable shareholders in the company include Indian cricketer Virat Kohli and his wife, actress Anushka Sharma. Kohli invested ₹2 crore in the company in February 2020 by purchasing 2,66,667 equity shares at ₹75 apiece, while Sharma bought 66,667 equity shares at the same price.
IPO Management and Listing
The book running lead managers for the IPO are ICICI Securities, Morgan Stanley India Company, Axis Capital, HDFC Bank, Edelweiss Financial Services, and IIFL Securities. Link Intime India has been appointed as the registrar for the issue. The shares of the company will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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