Go Digit IPO closes today

The ₹2,615-crore IPO of Go Digit General Insurance Limited, a digital full-stack company, ends today for subscription. The comes out with a price band of ₹258-272 and market lot is 55 shares. The issue has so far been subscribed 0.79 time or 79 per cent.

The ₹2,615-crore IPO of Go Digit General Insurance Limited, a digital full-stack company, ends today for subscription. The comes out with a price band of ₹258-272 and market lot is 55 shares. The issue has so far been subscribed 0.79 time or 79 per cent.

As against an offer of nearly 5.29 crore shares (net off anchor portion), the IPO received bids for about 4.18 crore shares.

The issue is a mix of a fresh issue of 4.14 crore shares worth ₹1,125 crore and an offer for sale of 5.48 crore shares for ₹1,489.65 crore. The IPO will close on May 17.

At least 75 per cent of the issue is reserved for qualified institutional buyers, while up to 15 per cent for non-institutional bidders, and a maximum of 10 per cent for retail investors.

Also Read: GST portal launches machine registration to curb pan masala and tobacco tax evasionRetail investors appeared to be more keen on the issue, as the portion reserved for them was subscribed 2.54 times; the respective portions of QIBs and non-institutions were subscribed 0.24 time and 0.73 time.

Go Digit Infoworks Services Private Ltd, the promoter selling shareholder, will offload up to 5.475 crore shares, while other selling shareholders such as Nikita Mihir Vakharia and Mihir Atul Vakharia together plan to sell up to 4,000 equity shares, and Nikunj Hirendra Shah and Sohag Hirendra Shah together, up to 3,778 shares. Besides, Subramaniam Vasudevan and Shanti Subramaniam intend to sell up to 3,000 shares.

The fresh capital will be used for the expansion of the company’s capital base and maintenance of solvency levels and general corporate purposes.

Go Digit had raised ₹1,176 crore from anchor investors. It had allotted 4.32 crore shares to anchor investors at ₹272.

Also Read: Buzzing stocks. Stocks that will see action today: March 17, 2024Foreign and Domestic Institutions who participated in the anchor were Fidelity Investment Trust, Bay Pond Partners L.P., Goldman Sachs, Abu Dhabi Investment Authority (ADIA), Schroder International, East Spring Investments India, Custody Bank of Japan, SBI Mutual Fund, ICICI Prudential Mutual Fund, Axis Mutual Fund, Mirae Asset Mutual Fund, Ashoka WhiteOak Mutual Fund, Malabar Mutual Fund, Steadview Capital Mauritius Ltd, Optimix Wholesale Global Emerging Markets Share Trust, ACM Global Fund, HDFC Life Insurance, ITPL Invesco India Mutual Fund, Tata Mutual Fund, Volrado Venture Partners Fund, NHIT Global Emerging Markets Equity Trust, Florida Retirement System, Singularity Equity Fund, Motilal Oswal Mutual Fund, Edelweiss Trusteeship Co Ltd AC, Max Life Insurance, Tata AIA Life Insurance Company, Bajaj Allianz Life Insurance Company, Bandhan Mutual Fund, PGIM India Trustees Private Ltd, Morgan Stanley Asia (Singapore) PTE ODI, and Ghisallo Master Fund LP.

Ace cricketer Virat Kohli bought 2.67 lakh shares worth ₹2 crore in 2020, while his wife, actress Anushka Sharma, invested ₹50 lakh in a private placement. Virat Kohli has also some preemptive rights as well as a tag-along right, as mentioned in the RHP. In addition, if Virat Kohli decides to sell some or all of his interests in the company to a third party other than Kamesh Goyal or Go Digit Infoworks Services Private Limited, Go Digit Infoworks Services Private Ltd has the right of first offer.

Founded by Kamesh Goyal, the company offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products.

ICICI Securities Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, HDFC Bank Limited, IIFL Securities Limited, Nuvama Wealth Management Limited, and Link Intime India Private Limited serve as the registrars to the Offer.

The Equity Shares are intended for listing on both BSE and NSE.

Like (0)
Previous May 17, 2024 3:48 pm
Next May 17, 2024 3:48 pm

Related posts

  • U.S. CPI rose 3.4% year-on-year in April Data shows #The probability of the Federal Reserve cutting interest rates in September is about 68%

    Reprinted from: CCTV Finance On the 15th local time, data released by the U.S. Department of Labor showed that the U.S. Consumer Price Index (CPI) rose by 3.4% year-on-year and 0.3% month-on-month in April, in line with market expectations.

    US stock market May 15, 2024
  • Happiest Minds collaborates with Solvio to enhance salesforce capabilities

    Happiest Minds Technologies Ltd has announced its partnership with Solvio, a salesforce consulting firm.

    US stock market May 16, 2024
  • 20 years have passed and Yabuli Forum has become a part of my life

    Looking back on the days when I first arrived, although I had a longing for the future and a desire for challenges, there were also many moments when I was at a loss because I was the only one in the Secretariat at that time. I didn’t know what to do in preparing for a large-scale event. Yes, I only know one thing, and that is that I need to call and fax frequently. Twenty years ago, email was not yet popular, Steve Jobs did not invent the iPhone, and there was no WeChat or Weibo. At that time, I really wanted to invite Chairman Liu Jiren of Neusoft Group, but I didn’t know him, so I looked up his phone number and fax number on the Internet, sent faxes several times, and then started calling Neusoft’s front desk staff At the beginning, he told me very politely, \”If the chairman wants to participate, he will definitely reply.\” But I waited for a long time and did not receive a reply, so I then sent them a fax. In the end, the front desk staff may have sent too many faxes. He was very angry and told me: \”Stop sending faxes, we will not participate!\” But later, Chairman Liu Jiren came to attend the meeting and joined the Yabuli Forum Board of Directors.

    US stock market April 25, 2024
  • Chuanzhi Education: Loss of 16.0066 million yuan in the first quarter of 2024

    CSI Intelligent Financial Information Chuanzhi Education (003032) disclosed its first quarter report for 2024 on April 26. In the first quarter of 2024, the company achieved a total operating income of 50.9249 million yuan, a year-on-year decrease of 63.61%; a net profit loss attributable to the parent company was 16.0066 million yuan, a profit of 17.5404 million yuan in the same period last year; a loss after deducting non-net profits of 25.9844 million yuan, a profit in the same period last year 12.59 million yuan; the net cash flow generated from operating activities was -41.9675 million yuan, compared with 39.7598 million yuan in the same period last year; during the reporting period, Chuanzhi Education\’s basic earnings per share was -0.04 yuan, and the weighted average return on net assets was – 1.19%.

    US stock market April 25, 2024
  • Stocks that will see action today May 7, 2024

    GHCL has announced a capital budget of approximately ₹224 crore for the financial year 2024-25, including a Bromine Project of ₹117 crore. The board has also approved a 5.5 mt greenfield soda ash project in Kutch, Gujarat, for ₹4,000 crore.

    US stock market May 7, 2024
  • Xpeng Motors fell more than 4% before results

    Gelonghui, May 21 | Chinese auto stocks and U.S. stocks fell collectively before the market opened. Among them, Xpeng Motors fell more than 4% to US$7.94.

    US stock market May 21, 2024