May 23, 2024
admin
Go Digit General Insurance IPO GMP, Guidance, Subscription Status, allotment & listing details @ Chanakyanipothi.com
👉A legacy of 31 Years.
India`s Oldest Investment & IPO website.
👉Most Trusted by Investors across India.
Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Post Listing Review of Go Digit IPO:
Listed at Rs. 286, premium of 5.15% over the issue price of Rs. 272. The listing has been very much below the expectations of the grey market players.
What is the last GMP of Go Digit IPO?
Premium: Rs 4
Retail Application Rs.
Rs. 2 Lac Application Rs.
Rs. 10 L application Rs.
Subject to 2 Lac application Rs. (No trades)
Subject to 10 Lac application Rs. (No trades)
Subscription Status of Go Digit IPO
Review: Weak response even on Day 3
On 17 May 2024 5.00 (Day 3)
QIB: 12.56 T
NII(10L+): 08.28 T
NII (<10L) 05.15 T
NII (Total) 07.24 T
RII: 04.27 T
Total: 09.60 T
Applications: 585348
Amount wise Subscription: Rs. 13805 Crore
Who are the promoters of Go Digit IPO?
KAMESH GOYAL, GO DIGIT INFOWORKS SERVICES PRIVATE LIMITED, OBEN VENTURES LLP AND FAL CORPORATION are the promoters of Go Digit General Insurance ltd
What are the Objects of Go Digit IPO?
The Offer comprises the Fresh Issue and the Offer for Sale.
The Company proposes to utilize the Net Proceeds towards maintenance of its solvency ratio.
What is the business of Go Digit IPO?
Go Digit aims to make insurance products so simple that even a 15-year old can understand it. Through innovation and transparency, it believes in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. It 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, distribution and customer experience for non-life insurance products. Full-Stack Insurers are insurance firms that are fully licensed and controlled by a regulatory authority and perform sourcing, underwriting and servicing all in-house. Digital full stack insurers are insurance manufacturing companies that focus on integrating technology in their operations. It offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet his or her needs.
As a digital full stack insurance company, it deploys a combination of insurance and technology solutions to assist in enrolment, insurance claims processing, underwriting, policy administration, data insights and fraud detection.
As at December 31, 2023, there were 43.26 million people who were its customers or people who have availed the insurance benefits under various policies it issued since the inception of its insurance operations in 2017.
Its GWP per employee for each of the nine months ended December 31, 2023, and Financial Year 2023 is higher as compared to the average GWP per employee for non-life insurance companies in India for each of the nine months ended December 31, 2023, and Financial Year 2023, which demonstrates better operational efficiency compared to other general insurance companies in India.
The company has maintained an adequate capital position with a solvency ratio of 1.60 times and 1.78 timesas of the nine months ended December 31, 2023, and Financial Year 2023, respectively, compared to the IRDAI level minimum solvency ratio guidance of 1.50 times.
For more information, click https://www.godigit.com
Go Digit IPO IPO GMP, Guidance, subscription allotment listing
| Go Digit IPO Details | |
| IPO opens on | 15 May 2024 |
| IPO closes on | 17 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 96126686 Shares / Rs 2614.65 Crore |
| * Fresh Issue | 41360294 Shares / Rs 1125 Crore |
| * Offer for Sale | 54766392 Shares / Rs 1489.65 Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 258-272 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 55 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Go Digit IPO? | Shares | Rs. in Cr |
| QIB (75 %) | 72095014 | 1960.99 |
| NII (15 %) | 14419003 | 392.20 |
| RII (10 %) | 9612669 | 261.45 |
| Employees | – | – |
| Total Shares | 96126686 | 2614.65 |
| Retail portion will be oversubscribed by | 174776 Forms. | |
| How to apply in Go Digit IPO? | Amount Rs. | |
| Min Retail Application | 55 Shares | 14960 |
| Max Retail Application | 715 Shares | 194480 |
| Small HNI (Min) application | 770 Shares | 209440 |
| Small HNI (Max) application | 3630 Shares | 987360 |
| Big HNI Application | 3685 Shares | 1002320 |
| What is the timetable of Go Digit IPO? | |
| IPO opens on | 15 May 2024 |
| IPO Closes on | 17 May 2024 |
| IPO Allotment on | 21 May 2024 |
| Unblocking of ASBA | 22 May 2024 |
| Credit of Shares | 22 May 2024 |
| Listing on | 23 May 2024 |
| Registered Office of Go Digit | |
| P1 to 6 Floor, Ananta One, Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivajinagar, Pune 411005, Maharashtra, India |
|
| Who are the Lead Managers of Go Digit IPO? ICICI Securities Ltd, Morgan Stanley India Company Pvt ltd, Axis Capital Ltd Edelweiss Financial Services Ltd, HDFC Bank Ltd IIFL Securities Ltd |
|
| Registrar to IPO | |
| Link Intime India Private Limited |
| Go Digit IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | -118.55 | (123) | -1.50 | -10.82 |
| 2021-22 | -293.64 | (296) | -3.55 | -15.85 |
| 2022-23 | 39.19 | 35 | 0.41 | 1.53 |
| Book Value of the Share on 31.03.2022 | Rs. | 26.61 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 272 | ||
| Go Digit IPO IPO Ratio Analysis |
|
| Price /EPS | 663 |
| Price/Book Value Ratio | 10.22 |
| Price/BV after IPO | ? |
How Go Digit IPO IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Go Digit General | 10 | – | 663 |
| New India Assurance | 5 | – | 38.47 |
| Star Health & Allied | 10 | – | 53.79 |
| ICICI Lombard General | 10 | 48.14 | |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Go Digit IPO IPO Guidance* by Paresh Gordhandas, CA & Research Analyst.
Go Digit aims to make insurance simple. Through innovation and transparency, it believes in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. It 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, distribution and customer experience for non-life insurance products.
IPO Size: The size of the IPO is Rs. 2614.65, which is somewhat large. HNI portion is only Rs. 392.20 crore and retail portion is Rs. 261.45 Crore. One may feel that looking to the bullish sentiment retail portion can get one time subscribed easily, however considering high valuation and not so attractive premium trends, huge oversubscription appears to be difficult.
Financial Snapshot: The company has incurred losses at total income level and at the net profits level. In the year 2022-23, the company has shown turnaround trend and yet considering the earnings of that year, the offer price at PE multiple of 663 appears to be very costly.
IPO Guidance: After incurring huge losses, the company has shown small profit of Rs. 35 crore in the year 2022-23, just ahead of the IPO. General insurance market has tough competition from old and established players as well as new players. IPO price is very high and leaves room for negligible listing gains. May Avoid.
Quicklinks
Go Digit IPO IPO GMP
Go Digit IPO IPO GMP guidance subscription allotment listing
Go Digit IPO IPO GMP today, Details, Guidance, Subscription Status, allotment
Go Digit IPO Anchor Investors Details
