GO DIGIT INSURANCE IPO: VIRAT KOHLI, ANUSHKA SHARMA-BACKED RS 1500 ISSUE OPENING SOON | ET NOW EXCLUSIVE

Go Digit General Insurance is poised to make its mark with a highly anticipated initial public offering (IPO) scheduled for Wednesday, May 15, 2024. With sources confirming to ET NOW, the IPO, valued at ₹1,500 crore, is set to comprise a combination of fresh issue and offer for sale, reflecting the company's strategic approach to capital infusion and investor participation.

Despite encountering several delays, the IPO gained regulatory approval from the Securities and Exchange Board of India (SEBI) in March 2024, signalling a green light for Go Digit to proceed with its ambitious public listing.

Go Digit Insurance IPO

Sources also told ET NOW that Go Digit is also backed by Prem Wasta's Fairfax group and seasoned insurance industry veteran Kamesh Goyal, Go Digit has carved a niche for itself by offering a diverse portfolio of insurance products, including motor, health, travel, property, and marine insurance.

Notably, the involvement of celebrity investors Virat Kohli and Anushka Sharma has further amplified interest in the company's growth trajectory, sources told ET NOW. In February 2020, Virat Kohli invested Rs 2 crore in the company to buy 2,66,667 equity shares for Rs 75 apiece. On the other hand, Anushka bought 66,667 equity shares at the same price, investing Rs 50 lakh in the company.

According to the Sources, with the price band set to be unveiled on May 10th, investors are eagerly awaiting crucial details to inform their investment decisions. The IPO will see a fresh issue of shares worth ₹1,250 crore, while existing shareholders, including promoters, will offer 10.94 crore equity shares for sale.

Investors and industry experts are closely watching the developments surrounding Go Digit's IPO, anticipating a significant response from the market as the company embarks on its journey as a publicly listed entity.

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2024-05-08T08:08:37Z dg43tfdfdgfd