Go Digit General Insurance IPO
Go Digit General Insurance IPO — date, price band, lot size & details 2024
Go Digit General Insurance listed on 23 May 2024 at ₹286, 5.1% above the ₹272 issue price.
Go Digit General Insurance is a digital full stack non-life insurer offering motor, health, travel, property, marine and liability insurance. Its total income was Rs 5,885.70 crore in FY2023.
Stock price
Go Digit General Insurance is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 15 May 2024
- Close 17 May 2024
- Allotment 21 May 2024
- Refund/credit 22 May 2024
- Listing 23 May 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 May, 2024 |
|---|---|
| Price Band | ₹258 – ₹272 |
| Face Value | ₹10 |
| Lot Size | 55 Shares |
| Issue Size | ₹2614.65 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,960 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 55 shares at the ₹272 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 55 | ₹14,960 |
| Retail (max) | 13 | 715 | ₹1,94,480 |
| S-HNI (min) | 14 | 770 | ₹2,09,440 |
| S-HNI (max) | 66 | 3,630 | ₹9,87,360 |
| B-HNI (min) | 67 | 3,685 | ₹10,02,320 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 2,251.99 crore in FY2021 to Rs 5,885.70 crore in FY2023, as per the RHP.
- 02It turned from a loss of Rs 295.85 crore in FY2022 to a profit of Rs 35.54 crore in FY2023.
- 03Profit after tax was Rs 129.02 crore in the nine months to 31 December 2023.
- 04Rs 1,125.00 crore of the issue was fresh capital to support its solvency ratio.
- 05Net worth grew from Rs 1,134.57 crore on 31 March 2021 to Rs 2,459.34 crore on 31 December 2023.
Risks · 5
- 01The pre-issue P/E was 670.31 at the upper band of Rs 272, based on EPS of Rs 0.41.
- 02The company made losses of Rs 122.76 crore in FY2021 and Rs 295.85 crore in FY2022.
- 03Motor and health insurance are competitive, and claims can rise sharply. Return on net worth was 5.25% as per the source.
- 04It needs fresh capital to keep its solvency ratio, and Rs 1,489.65 crore of the issue was offer for sale.
- 05Promoters and the promoter group held 83.31% before the issue and 73.58% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Go Digit General Insurance offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 3,619.95 | 3,346.75 | 2,919.01 | 1,874.80 |
| Total Income | 5,891.19 | 5,885.70 | 3,840.97 | 2,251.99 |
| Profit After Tax | 129.02 | 35.54 | -295.85 | -122.76 |
| NET Worth | 2,459.34 | 2,325.47 | 1,866.87 | 1,134.57 |
| Reserves and Surplus | 2,391.97 | 2,383.61 | 1,975.07 | 973.14 |
| Total Borrowing | 200.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Go Digit General Insurance RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Go Digit General Insurance IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹0.41 | ₹1.88 |
| P/E Ratio (x) | 670.31 | 145.03 |
| Market Cap at Offer Price (₹ Cr) | ₹85,593.76 | ₹18,666.72 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹272 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹1,204.85 Cr of the issue is earmarked to named objects.
About the company
Its products cover motor, health, travel, property, marine, liability and other insurance. As per RedSeer, it wrote about 82.5% of the gross written premium of digital full stack insurers, a group that also includes Acko and Navi, in the nine months to 31 December 2023, making it the largest such player in India.
Its promoters include Kamesh Goyal, Go Digit Infoworks Services, Oben Ventures and FAL Corp.
The IPO was Rs 2,614.65 crore, with Rs 1,125.00 crore of fresh issue and Rs 1,489.65 crore of offer for sale, mostly by promoter Go Digit Infoworks Services. Rs 1,064.70 crore was planned for maintaining the solvency ratio.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Go Digit General Insurance IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
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Axis Capital
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ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
HDFC Bank Limited
21 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Paytm (-9.3%).
Morgan Stanley India Co. Pvt. Ltd
16 issues handledListing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Go Digit General Insurance?
The current Grey Market Premium is ₹27, or 10% over the issue price.
What is the Go Digit General Insurance IPO price band?
₹258 to ₹272, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 May 2024, with listing on 23 May 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
