GO DIGIT GENERAL INSURANCE (MAINBOARD)
May 15, 2024 - May 17, 2024
| Price | ₹258 - ₹272 |
| Premium | ₹8 |
|---|---|
| Lot size | 55 |
| Allotment | May 21, 2024 |
| Listing | May 23, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 55 | 14960 | 174775 |
| sHNI | 14 | 770 | 209440 | 6242 |
| bHNI | 67 | 3685 | 1002320 | 12484 |
Last Updated as on 17-May-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 28838007 | 362269545 | 12.56 |
| HNIs | 14419002 | 104340610 | 7.24 |
| HNIs (10L+) | 9612668 | 79585330 | 8.28 |
| HNIs (2-10L) | 4806334 | 24755280 | 5.15 |
| Retail | 9612668 | 41011300 | 4.27 |
| Total | 52869677 | 507621455 | 9.6 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 12484 | 20396 | 1.63 |
| HNIs (2-10L) | 6242 | 30720 | 4.92 |
| Retail | 174775 | 534535 | 3.06 |
| Total Application : 585651 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹4.59 | @8% ₹5.24 | @9% ₹5.9 | @10% ₹6.55 | @11% ₹7.21 | @12% ₹7.86 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹3312 |
Top 5 Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Fidelity Funds - India Focus Fund | 3437665 | 7.95% | 93.50 |
| Goldman Sachs Funds - Goldman Sachs India Equity Portfolio | 2297790 | 5.31% | 62.50 |
| Abudhabi investment Authority - Monsoon | 2297790 | 5.31% | 62.50 |
| Ashoka Whiteoak ICAV - India Oppurtunities Fund | 1838155 | 4.25% | 50.00 |
| Mirae Asset ELSS Tax Saver Fund | 1838265 | 4.25% | 50.00 |
IPO Details
| Total Issue Size | [96,126,686] shares (aggregating up to 2614.65 Cr) |
| Fresh Issue | [41,360,294] shares (aggregating up to 1,125.00 Cr) |
| Offer for Sale | 54,766,392 Shares (aggregating up to 1489.65 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 875,842,046 |
| Share holding post issue | 917,202,340 |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not More than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Key Performance Indicators
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| RONW | 5.25% | 1.53% | -15.85% |
| EPS (basic & diluted) | 1.46 | 0.4 | -3.55 |
| P/BV | 9.67 | ||
| P/E Pre IPO | 670.31 |
Financial Statement (Restated)
| Period | Dec-23 | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|---|
| Assets | 3,619.95 | 3,346.75 | 2,919.01 | 1,874.80 |
| Revenue | 130.83 | 39.19 | -293.64 | -118.55 |
| Profit After Tax | 129.02 | 35.54 | -295.85 | -122.76 |
| Net Worth | 2459.34 | 2,325.47 | 1,866.87 | 1,134.57 |
| Reserves and Surplus | 2391.97 | 2,383.61 | 1,975.07 | 973.14 |
| Total Borrowing | 200 | |||
| Amount in Crores | ||||
About Company
Founded in December 2016, Go Digit General Insurance Limited has swiftly established itself as a prominent insurance provider in India. Offering a comprehensive range of insurance products, including motor, health, travel, property, marine, and liability insurance, the company prides itself on its ability to tailor solutions to meet the diverse needs of its customers. With an impressive portfolio of 74 active products spanning various business lines, Go Digit has positioned itself as a versatile player in the insurance market. The company boasts a robust network comprising 61,972 partners, which includes 58,532 POSPs and other agents, as of December 31, 2023. Operating across 24 states and union territories in India, Go Digit has established a widespread presence with distribution centers strategically located throughout the country. Leveraging technology to enhance efficiency, the company has implemented 473 active bots to automate tasks for functions and partners. With 75 offices spread across India, Go Digit is committed to providing accessible and reliable insurance solutions to its customers. The company's growth is further underscored by its expanding workforce, which grew from 3,333 employees as of March 31, 2023, to 3,957 by December 31, 2023, reflecting its dedication to scaling operations and serving its growing customer base effectively.
Strength Factors
Tailored Customer Experience: Recognized for its commitment to delivering personalized services, the company stands out for its ability to simplify interactions, providing customers with precisely what they need, when they need it.
Empowering Distribution Partners: Esteemed for its collaborative approach, company empowers its distribution partners by equipping them with the necessary support to thrive in the market, fostering strong, mutually beneficial relationships.
Advanced Technology Platform: Renowned for its innovative technological solutions, the company's advanced platform sets it apart by enhancing operational efficiency, agility, and adaptability, ensuring a competitive advantage in the ever-evolving insurance landscape.
Risk Factors
Profitability Concerns: Historical reporting of losses coupled with uncertainty about future profitability pose significant risks, potentially impacting investor confidence and financial stability.
Limited Operating History: The Company’s short operating history complicates accurate evaluation of future business prospects, potentially hindering strategic planning and forecasting efforts.
Legal Proceedings: Ongoing legal proceedings involving the company, its promoters, and directors present a notable risk, as adverse outcomes could lead to financial liabilities, reputational damage, and operational disruptions.
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Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: godigit.ipo@linkintime.co.in
https://linkintime.co.in/initial_offer/public-issues.html