09-May-2024
2 mins read
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Digit General Insurance IPO is open for subscription starting Wednesday, May 15, 2024, and closing on Friday, May 17, 2024. This is a book-built issue, which is a combination of fresh issue and offer for sale. The fresh issue is of Rs 1,125 crore and offer for sale is of 5.48 crore equity shares. The price band and lot size details are not yet announced. The allotment for this IPO is expected to be finalised on Tuesday, May 21, 2024. Digit General Insurance Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Wednesday, May 23, 2024. The book-running lead managers of Digit General Insurance Limited are ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited, HDFC Bank Limited, IIFL Securities Limited. The registrar for this new IPO is Link Intime India Private Limited.
About Digit General Insurance Limited
Go Digit Insurance Limited was incorporated in 2016, is an insurance provider offering various types of Insurance such as motor insurance, health insurance, travel insurance, property insurance marine insurance and other insurance products. Go Digit has launched a total of 74 products across its business line. The company sells its products online through their website and offline by POSP mode. The POSP stands for Point of the salesperson. The agent can sell Car Insurance, Bike Insurance, Health Insurance and other types of Insurance. The claim execution process is online and fast as compared to its peers. Go Digit brand is sponsored by famous Indian cricketer Virat Kohli due to which its brand value is high. As of December 31 2023, the company had 61,972 partners, including 58,532 POSPs and other agents. They had distribution centres in 24 states and union territories in India. Additionally, the company had 473 active bots to automate tasks for functions and partners. Go Digit currently operates 75 offices throughout India.
Objectives of Digit General Insurance IPO
The net funds received from Go Digit Insurance IPO will get utilised to undertake its existing business activities. Also, the company will get the listing benefits which will enhance the brand visibility among its existing and potential customers.
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Financials of Digit General Insurance Limited (Amt in Rs Crore)
Digit General Insurance reported a revenue of Rs 130.83 crore and net profit of Rs 129.02 crore for the period ending on 31 December 2023. Previously, at the end of 31 March 2023, the company posted a revenue of Rs 39.19 crore and net profit of Rs 35.54 crore. The revenue and profits showed a sharp jump in the period between 31 March 2023 and 31 Dec 2023.
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 3,619.95 | 3,346.75 | 2,919.01 | 1,874.80 |
| Revenue | 130.83 | 39.19 | -293.64 | -118.55 |
| Profit After Tax | 129.02 | 35.54 | -295.85 | -122.76 |
| Net Worth | 2,459.34 | 2,325.47 | 1,866.87 | 1,134.57 |
| Reserves and Surplus | 2,391.97 | 2,383.61 | 1,975.07 | 973.14 |
| Total Borrowing | 200 | - | - | - |
Other Important Details of Digit General Insurance Limited IPO
| IPO Date | May 15, 2024 to May 17, 2024 |
| Listing Date | 23-May-24 |
| Face Value | Rs 10 per share |
| Price | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | Yet to be announced |
| Fresh Issue | Rs 1,125 crore |
| OFS | 54,766,392 shares of Rs 10 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 875,842,046 |
Time-Table of Digit General Insurance Limited IPO
| IPO Open Date | Wednesday, May 15, 2024 |
| IPO Close Date | Friday, May 17, 2024 |
| Basis of Allotment | Tuesday, May 21, 2024 |
| Initiation of Refunds | Wednesday, May 22, 2024 |
| Credit of Shares to Demat | Wednesday, May 22, 2024 |
| Listing Date | Thursday, May 23, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 17, 2024 |
IPO Reservation of Digit General Insurance Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 75 percent of the Issue |
| Retail Shares | Not more than 10 percent of the Issue |
| NII (HNI) Shares | Not more than 15 percent of the Issue |
Promoters of Digit General Insurance Limited and Their Holdings
The promoters of Digit General Insurance company are Kamesh Goyal, GoDigit Infoworks Services Private Limited, Oben Ventures LLP And FAL Corporation.
| Shareholding Pre Issue | 83.31 percent |
| Shareholding Post Issue | - |
Key Performance Indicator of Digit General Insurance Limited IPO
| KPI | Values |
| ROE | NA |
| Debt/Equity | NA |
| RoNW | NA |
| P/BV | NA |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | NA | NA |
| P/E | NA | NA |
Lead Manager(s) of Digit General Insurance Limited IPO
ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited, HDFC Bank Limited, IIFL Securities Limited.
How do you apply for the Digit General Insurance Limited IPO?
Wait for the public issue to open for subscription, then visit the website to apply for the Digit General Insurance Limited IPO with Bigul.
How do you check the allotment status of the Digit General Insurance Limited IPO?
Link Intime India Private Limited is the registrar for Digit General Insurance Limited IPO. To check your allotment status, please click here.
FAQs
- What are the details of the Digit General Insurance IPO?
Digit General Insurance IPO is open for subscription starting Wednesday, May 15, 2024, and closing on Friday, May 17, 2024. This is a book-built issue, which is a combination of fresh issue and offer for sale. The fresh issue is of Rs 1,125 crore and offer for sale is of 5.48 crore equity shares.
- Who are the lead managers for the Digit General Insurance Limited IPO?
ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited, HDFC Bank Limited, and IIFL Securities Limited have been appointed as the lead managers for this IPO.
- What is the role of Link Intime India in this IPO?
Link Intime India Private Limited is the registrar for Digit General Insurance Limited, handling the IPO's administrative aspects.
- How can I apply for the Digit General Insurance Limited IPO?
The public subscription of this IPO will open on May 15, 2024. Click here to continue the application process.
- How will the net proceeds from the IPO be utilised?
The net funds received from Go Digit Insurance IPO will get utilised to undertake its existing business activities. Also, the company will get the listing benefits, enhancing the brand visibility among its existing and potential customers.
- How can I check the allotment status of the IPO?
Investors can check out the allotment status of the Digit General Insurance Limited IPO 2024 by visiting here.
- What is the financial performance of Digit General Insurance Limited?
Digit General Insurance reported a revenue of Rs 130.83 crore and net profit of Rs 129.02 crore for the period ending on 31 December 2023. Previously, at the end of 31 March 2023, the company posted a revenue of Rs 39.19 crore and net profit of Rs 35.54 crore.
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