What is the issue size of Go Digit General Insurance Limited IPO?

Go Digit General Insurance Limited IPO issue size is a fresh issue of equity shares of Rs.10 each totaling up to Rs. 1250 crore and an offer for sale of up to 10,94,45,561 equity shares

What is 'pre-apply' for Go Digit General Insurance Limited IPO?

Pre-apply will alow you to apply for the Go Digit General Insurance Limited IPO 2 days before the subscription period starts.

If I pre-apply for Go Digit General Insurance Limited IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the Go Digit General Insurance Limited IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my Go Digit General Insurance Limited IPO order is placed?

We will notify you when your Go Digit General Insurance Limited IPO order is placed with the exchange.

What are the open and close dates of the Go Digit General Insurance Limited IPO?

Go Digit General Insurance Limited IPO date is yet to be announced.

What is the lot size and minimum order quantity of the Go Digit General Insurance Limited IPO?

The minimum order quantity and lot size of Go Digit General Insurance IPO is yet to be declared.

What are the allotment dates for the Go Digit General Insurance Limited IPO?

Go Digit General Insurance Limited IPO allotment date is yet to be declared.

Who is the registrar of Go Digit General Insurance Limited IPO?

Go Digit General Insurance Limited IPO registrar is Link Intime India Private Limited

Where is the Go Digit General Insurance Limited IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

Go Digit Insurance IPO

Go Digit General Insurance Ltd

₹14,190 /55 sharesMinimum Investment

Go Digit Insurance IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
--₹272.00₹286.00₹14.00 (5.15%)
Go Digit Insurance IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
15 May ‘24 - 17 May ‘24₹14,19055₹258 - ₹272
Issue SizeIPO Doc
2614.65CrRHP PDF
Subscription Status As on 17 May '24, 5:00 PMQualified Institutional Buyers
12.56x
Non-Institutional Investor
7.17x
Retail Individual Investor
4.11x
Total
9.56x
About Go Digit InsuranceGo Digit General Insurance Limited is a digital full stack insurance company. (Full-Stack insurers are insurance companies that are fully licensed and controlled by a regulatory authority and perform sourcing, underwriting and servicing all in-house). The company leverages technology to provide a range of non-life insurance products such as motor insurance, health insurance, travel insurance, property insurance, marine insurance, and liability insurance. Customers have the flexibility to customize these offerings to suit their individual needs.
The company offers 74 active products across all its business lines directly to customers through its website and through web aggregators.
As of December 31, 2023, the company had presence in 24 of the 36 states and Union Territories in India, and relationships with about 61,972 Key Distribution Partners, including about 58,532 Point of Sales Persons (POSPs), individual agents, corporate agents, brokers and others.;
Parent Organisation
Go Digit General Insurance Ltd
Founded
2016
Managing Director
Ms. Jasleen Kohli
Strengths & Risks
The company distributes its products through a diverse partnership-based model, spanning various channels. As of December 31, 2023, it had partnerships with approximately 61,972 key distribution partners, including 58,532 POSPs, individual agents, corporate agents, and brokers. They also sell directly to customers via their website and web aggregators, enabling them to connect with customers during significant life events like buying a new car or home.
The company works on simplifying insurance and offers easy-to-understand, customisable products. As per the company, its paperless processes are designed to reduce the hassle of applying for coverage and submitting a claim. 
As at December 31, 2023, the company had 43.26 million customers or people who have availed the insurance benefits under various policies issued by the company since the inception of its insurance operations in 2017. Of this, 27.74 million customers pertained to motor insurance products, 14.97 million customers for health insurance products (including personal accident & travel) and 0.55 million customers for other insurance products.
As per the RHP, the company has developed predictive underwriting models that leverage the insights gathered by its data bank. These models help it determine and target the markets and customers that are expected to be more profitable and hence, allows it to accurately price its coverage.
The company's net promoter score was 73.3% for non-claims and 93.1% for motor claims as of December 31, 2023. A high net promoter score reflects improved customer satisfaction. 
As of the nine months ending December 31, 2023, the company reported Assets Under Management (AUM) of Rs. 14,909 cr, compared to Rs. 12,668 cr on March 31, 2023.
The company reported losses of Rs 295.85 crore and Rs 122.76 crore in the financial years 2021 and 2022. 
The company’s limited operating history makes it difficult to accurately evaluate its future business prospects. 
There are a number of outstanding legal proceedings against the company, its promoters and directors. Adverse judgments in these cases could have a material impact on the company’s business and future prospects.
The company has received cautions, warnings and show-cause notices from the Insurance Regulatory and Development Authority of India (IRDAI) for alleged non-compliance with certain regulatory prescriptions in the past. The IRDAI has also imposed penalties in certain cases. More such instances in the future could be detrimental to the reputation of the company.
The company relies on motor vehicle insurance products for a substantial amount of its revenues. Any impediment in the sale of these products for any reason, could negatively impact the company’s business and financial condition.
The company is dependent on various regulatory approvals and licences to be able to operate the business well. The failure to obtain and maintain these licences and approvals in a timely manner could have a negative impact on the company’s business.
A significant portion of the company’s business is generated from a few regions in India. In the financial year 2023 and the nine months ended December 31, 2023, the states / Union territories of Maharashtra, Karnataka and Delhi, combined, accounted for 54.7% and 54.5% of its revenues, respectively.
In the nine months ended December 31, 2022 the company incurred Rs 10.37 crore pursuant to a tax proceeding related to an alleged ineligible input tax credit claim and applicability of Goods and Services Tax (GST). Besides this, the GST authorities have issued a show cause notice to the company, dated November 30, 2023 with a demand for Rs 25.47 crore.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹258 - 272₹2 Lakh
High Networth Individual₹258 - 272₹2 - 5 Lakh
For Go Digit Insurance IPO, eligible investors can apply as Regular.

Listed On	Issue Price	Listing Price	Listing Gains
--	₹272.00	₹286.00	₹14.00 (5.15%)

Bidding Dates	Min. Investment	Lot Size	Price Range
15 May ‘24 - 17 May ‘24	₹14,190	55	₹258 - ₹272

Issue Size	IPO Doc
2614.65Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹258 - 272	₹2 Lakh
High Networth Individual	₹258 - 272	₹2 - 5 Lakh

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