Go Digit IPO to open next week; Virat Kohli-backed Go Digit may launch IPO next week

Investorgain.com reports that the Go Digit IPO Grey Market Premium (GMP) ranges from ₹50 to ₹70. The ‘gray market premium’ refers to investors’ readiness to pay more than the issue price.

Go Digit General Insurance Limited IPO  are live
Go Digit General Insurance Limited IPO pricing band is ₹258 to ₹272 per equity share with a face value of ₹10.

Go Digit General Insurance, which is supported by Virat Kohli and Anushka Sharma, will conduct its initial public offering (IPO) next week. The IPO will be open for subscriptions on May 15, 2024, and end on May 17, 2024.

Market experts report that the Go Digit IPO is currently trading at a premium of ₹65 in the grey market prior to its subscription launch. The estimated listing price for Go Digit IPO shares might be ₹65, a 23.9 percent increase over the IPO price of ₹337.

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Investorgain.com reports that the Go Digit IPO’s Grey Market Premium (GMP) ranges from ₹50 to ₹70. The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.

Cricketer Virat Kohli and his wife, actress Anushka Sharma, are among the company’s investors. However, according to the IPO documents, they would not divest any shares.

Go Digit IPO Company details

Go Digit General Insurance (IPO) offers a wide range of insurance products, including vehicle, health, travel, property, and marine insurance. Sebi approved the company’s IPO in March 2024, following several delays. The company’s stockholders include Virat Kohli and his wife, Anushka Sharma. In February 2020, Virat Kohli invested ₹2 crore in the company, purchasing 2,66,667 equity shares for ₹75 each, while Anushka Sharma purchased 66,667 shares at the same price.

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Go Digit IPO details

The IPO plans to raise around ₹2,615 crore at a price band of ₹258-272 per share.

The IPO includes a fresh issue of shares worth ₹1,125 crore and an offer for sale (OFS) of 54,766,392 shares. Investors can bid for a maximum of 55 equity shares, with additional 55-share increments thereafter.

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The IPO allocation allocates 75% to qualified institutional buyers (QIBs), 15% to non-institutional investors, and the remaining 10% to retail investors.

The revenues from the proposed IPO will be used for general corporate purposes, including increasing solvency and the capital base.

Axis Capital, HDFC Bank, IIFL Securities, Morgan Stanley India Company, ICICI Securities, and Nuvama Wealth Management are the book-running lead managers for the offer.

Hi, My self Saurabh Singh

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