Go Digit General Insurance IPO GMP, Guidance, Subscription Status, allotment & listing details @ Chanakyanipothi.com
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    Latest updates of Go Digit IPO: 
    The Sebi has given green signal to the Go Digit IPO. Now the dates and price are expected to be announced soon. 

    What is the last GMP of Go Digit IPO?
    GMP fancy down.
    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.

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    Go Digit IPO IPO GMP

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    Go Digit IPO IPO GMP today, Details, Guidance, Subscription Status, allotment

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