Go Digit IPO GMP Price: Buy Or Not? Check Subscription Status, Allotment Date And More

Go Digit IPO GMP Price: The initial public offering (IPO) of Go Digit General Insurance Limited commenced on Wednesday and is scheduled to conclude on Friday. The insurance company, supported by Indian cricketer Virat Kohli and his wife, along with leading Bollywood actor Anushka Sharma, has set the price band for the Go Digit IPO at Rs 258 to Rs 272 per equity share. If you're considering investing in the Go Digit IPO, here's everything you should know, including the latest GMP price of Go Digit IPO, subscription status, allotment dates, company profile, and more.

Go Digit IPO GMP today

Today's grey market premium (GMP) for the Go Digit IPO stands at Rs 46, up by Re 1 compared to Wednesday's GMP of Rs 45. Market experts note that the Go Digit IPO GMP has remained stable even as the Indian stock market ended a three-day winning streak, indicating positive sentiment. They anticipate further improvement in grey market sentiments as the secondary market gains momentum.

Go Digit IPO subscription status

By 3:00 PM on the second day of bidding, the book build issue was subscribed 0.57 times, while the retail portion was oversubscribed 2.30 times. The NII (Non-Institutional Investor) segment was subscribed 0.55 times.

Go Digit IPO: Important Dates

Go Digit IPO: Apply or not?

Anticipating a promising debut of Go Digit shares on Dalal Street, VLA Ambala, Founder of Stock Market Today, remarked, "Go Digit General Insurance Limited has demonstrated remarkable growth, with a 113.35% surge in revenue and a 112.01% rise in PAT between March 31, 2022, and March 31, 2023. The company's assets also expanded from Rs.1,874.80 crore in 2021 to Rs.3,346.75 crore in 2023 and reported a net profit of Rs.35.54 crore for the first time. With reserves and surplus amounting to Rs.2,391.97 crore and total borrowings of Rs.200 crore, it appears to be in a sound financial position. However, its IPO seems to be priced aggressively based on its FY24 annualized earnings. According to analysis, its listing might be subdued or at a moderate 5-15% premium."

Things to know before subscribing to Go Digit IPO

Company Overview: Founded in December 2016, Go Digit is an insurance provider offering a range of products including health, travel, and property insurance. The company currently offers 74 active products across all its business lines.

Purpose of the Offering: Go Digit intends to use the proceeds from the offering to support its ongoing business operations and fund proposed activities. Additionally, the company believes that listing its shares on stock exchanges will enhance its visibility and brand recognition among both existing and potential customers.

Financial Performance: For the nine months ending FY24, Go Digit reported a net profit of Rs 1,290 crore, a substantial increase from Rs 100.21 crore in the same period of FY23. By the end of FY23, the company's profit was Rs 355.47 crore. Total income for the first nine months of FY24 was Rs 1,308.32 crore, compared to Rs 124.19 crore in the corresponding period of FY23 and Rs 392 crore for the full fiscal year.

Despite this growth, Go Digit recorded an operating loss of Rs 101.2 crore for the nine months ending December 2024, an improvement from the Rs 570 crore loss in the same period of FY23 and the Rs 662.7 crore loss for the entire FY23.

Lead Managers: ICICI Securities Limited, Morgan Stanley India Company Pvt Ltd, Axis Capital Limited, Hdfc Bank Limited, Iifl Securities Ltd, and Nuvama Wealth Management Limited are the lead managers for the Go Digit IPO, with Link Intime India Private Ltd serving as the registrar.

Key Risks: Go Digit has a history of reporting losses and may not sustain profitability in the future. Its limited operating history makes it challenging to evaluate future prospects accurately. The company has received cautions, warnings, and show-cause notices from IRDAI for alleged non-compliance with regulatory requirements and may face future regulatory actions. Additionally, the company's revenue and profitability are heavily reliant on motor vehicle insurance products, and any restrictions on their sale could adversely impact the business.

Virat Kohli and Anushka Sharma Go Digit IPO Investment

Anushka Sharma, Kohli's wife, also invested Rs 50 lakh by purchasing 66,667 shares of the company at Rs 75 per share. At the upper price band, her investment would be worth approximately Rs 1.85 crore. Together, Kohli and Sharma stand to make a notional profit of Rs 5.4 crore and Rs 1.35 crore, respectively, totaling Rs 6.75 crore.

READ ALSO:?Here's The List Of Upcoming IPOs In India

Go Digit IPO: FAQs

Who is the CEO of Go Digit?

Srininvasan Parthasarthy is the Managing Director and Chief Executive Officer of our Company.

Is Go Digit a listed company?

Go Digit is an Unlisted company, and the shares of the company may be available in the private market of India. you would be able to purchase shares through wwipl.com (Subject to availability).

How old is Go Digit insurance company?

Go Digit General Insurance Limited is an unlisted public company incorporated on 07 December 2016.

Who owns Go Digit insurance?

Go Digit Infoworks Services Private Limited

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