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Go Digit IPO Sets the Stage for Innovation

Sebencapital

Published
15/05/24

About Go Digit General Insurance Limited

Incorporated in December 2016, Go Digit General Insurance Limited is an insurance provider offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products, which customers can customize to meet their needs.

The company has currently launched a total of 74 active products across all its business lines.

As of December 31, 2023, the company had about 61,972 partners, including 58,532 POSPs and other agents.

As of December 31, 2023, the company had a distribution center in 24 states and union territories in India.

As of Dec 31, 2023, the company had 473 active bots to automate tasks for functions and partners.

As of December 31, 2023, the company currently operates 75 offices throughout India.

As of March 31, 2023, and December 31, 2023, the company had 3,333 and 3,957 employees, respectively.


Financial & Fundamentals of Go digit.

Go Digit General Insurance Limited's revenue increased by 113.35% and profit after tax (PAT) rose by 112.01% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets3,619.953346.752919.011874.80
Revenue130.8339.19-293.64-188.55
Profit After tax129.0235.54-295.83-122.76
Net Worth2459.342325.471866.871134.57
Reserves and surplus2391.972,381.611975.07973.14
Total Borrowing200.00

Peer Competitor Comparison

The listed peers of the firm are ICICI Lombard General Insurance Firm Ltd (P/E of 48.14x), Star Health and Allied Insurance Company Ltd (P/E of 53.79x), and New India Assurance Company Ltd (P/E of 38.47x).

NameP/E Ratio
ICICI Lombard General Insurance 48.14
Star Health and Allied Insurance53.79
New India Assurance Company38.47
Go Digit general insurance663

Highest PE against all other peers

Go Digit IPO Details

The IPO opening date is May 15, 2024, and will close on May 17, 2024, IPO list on May 23, 2024.

IPO DateMay 15, 2024 to May 17, 2024
Listing Date23 May 2023
Face Value₹10 per share
Price Band₹258 to ₹272 per share
Lot Size55 Shares
Total Issue Size96,126,686 shares
(aggregating up to ₹2,614.65 Cr)
Fresh Issue41,360,294 shares
(aggregating up to ₹1,125.00 Cr)
Offer for Sale54,766,392 shares of ₹10
(aggregating up to ₹1,489.65 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding pre issue875,842,046
Shareholding pre issue917,202,340

Go Digit IPO Timeline

Ipo opens on May 15, 2024, and Close on May 17, 2024, Basis Allotment will be on May 21, 2024, Initial refund will be on May 22, 2024, Listing Date is May 23, 2024

IPO Open DateWednesday, May 15, 2024
IPO Close DateFriday, May 17, 2024
Basis of AllotmentTuesday, May 21, 2024
Initiation of RefundsWednesday, May 22, 2024
Initiation of RefundsWednesday, May 22, 2024
Listing DateThursday, May 23, 2024
Cut-off time for UPI mandate confirmation5 PM on May 17, 2024

LISTING GAINS

Go Digit General Insurance made a quiet debut on the stock exchanges on May 23 after listing at Rs 286. That's a premium of just 5.14 percent over the issue price of Rs 272. Soon after the listing, the share price gained 6 percent further to trade 11 percent higher at Rs 301.


Written by devesh gupta

I am Devesh Gupta, a Junior Analyst at Seben Capital, where I specialize in finance with a focus on market research and data analysis. I support investment decisions by translating complex financial data into actionable insights. My role at Seben Capital allows me to contribute significantly to our investment strategies, leveraging my analytical skills to drive success.

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