Go Digit General IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Go Digit General

CMP

338.95

-1.85 (-0.54%)

  • DRHP
₹272

Offer Price

₹ 2,614.65 Cr

Issue Size

₹ 14,960

Min Investment

9.60x

Times Subscribed

55

Lot size

Time Line

  • 15
    May 2024
    Open
  • 17
    May 2024
    Close
  • 21
    May 2024
    Finalisation of Basis of Allotment
  • 22
    May 2024
    Initiation of Refunds
  • 22
    May 2024
    Transfer of Shares to Demat Account
  • 23
    May 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Be known as a leader in customer service.

  • Acquire new customers across its current products in the Indian non-life insurance market.

  • Grow its product portfolio to meet Indian market needs and drive further adoption across its product suite.

  • Expand into new geographies within India.

  • Optimize customer experience and boost operating leverage through continued investment in technology.

Products & Services

  • Go Digit General Insurance Ltd is one of the leading digital full stack insurance companies, leveraging its technology to power what it believes to be an innovative approach to product design, dist., customer experience for non-life insurance Products.

Strengths

  • Simple and Tailored Customer Experience.

  • Its Focus on Empowering its Distribution Partners.

  • Predictive Underwriting Models.

  • Advanced Technology Platform.

  • A nimble organization with a skilled and experienced management team.

Risks

  • The company has a track record of reporting losses and, its may not be able to maintain profitability in the future. Its limited operating history makes it difficult to accurately evaluate its future business prospects.

  • Its loss reserves are based on estimates as to future claims liabilities and if they prove inadequate, it could lead to further increases in reserves and materially adversely affect its results of operations.

  • The company is required to meet the mandatory control level of solvency margin as prescribed under the Insurance Act and the company could be subject to regulatory actions and could be forced to stop transacting any new business or change its business strategy which can slow down the companay`s growth.

  • Catastrophic events, including natural disasters, terrorist attack or nuclear disaster, could materially increase its liabilities for claims by customers, result in losses in its investment portfolios, and have a material adverse effect on its business, financial condition and results of operations.

  • There are outstanding legal proceedings involving the Company, its Promoters and its Directors, which may have a material impact on the Company.

Company Promoters

Promoters Holding

Issue For IPO
83.30%
Pre Holding

83.30%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 3,840.96 (70.60%) 5,885.45 (53.20%) 1.53 (-)
Gross Profit 3,840.96 (70.60%) 5,885.45 (53.20%) 1.53 (-)
Net Income 3,840.96 (70.60%) 5,885.45 (53.20%) 1.53 (-)
Assets 3,840.96 (70.60%) 5,885.45 (53.20%) 1.53 (-)
Liabilities 3,840.96 (70.60%) 5,885.45 (53.20%) 1.53 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Go Digit General Insurance Ltd 5,885.45 35.55 2,441.44 29.12 1.53 0.00 27.60 0.08 0.00
Star Health & Allied Insurance Company Ltd 10,601.99 -1,040.67 13,513.63 13,513.63 -22.55 -18.65 80.18 -7.70 0.16
ICICI Lombard General Insurance Company Ltd 17,875.78 1,729.05 55,086.20 55,086.20 16.55 35.21 212.64 3.13 0.00
New India Assurance Company Ltd 41,007.35 1,048.00 98,222.87 98,222.87 4.05 6.36 157.29 1.06 0.00

Book Running Managers

  • ICICI Securities Ltd
  • Morgan Stanley India Company Pvt Ltd
  • Axis Capital Ltd
  • Nuvama Wealth Management Ltd
  • HDFC Bank Ltd
  • IIFL Securities Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

1 to 6 Floor Ananta One,
Pride Hotel Lane Shivajinagar,
Pune - 411005
Phone : 91-20-6749 5400 Email : cs@godigit.com www.godigit.com

Offer Related Information

Initial public offering of 96,126,686 equity shares** of face value of Rs. 10 each (Equity Shares") of Go Digit General Insurance Iimited (the "Company" or the "Issuer") for cash at a price of Rs. 272 per equity share (including a share premium of Rs. 262 per equity share) ("Offer Price") aggregating to Rs. 2614.65 crores** (the "Offer") comprising a fresh issue of 41,360,294 equity shares** aggregating to Rs. 1125.00 crores** by the company (the "Fresh Issue") and an offer for sale of... More

News

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