BAJAJ BROKING
Go Digit is one of the leading general insurance companies backed by the Canadian-based Fairfax. It provides health insurance, vehicle insurance, property insurance, travel insurance and other insurance products digitally.
The company first filed its Draft Red Herring Prospectus to SEBI in 2022. However, SEBI returned this document on January 30 after suggesting certain changes. Later in April 2023, Go Digit General Insurance Limited refiled another DRHP to SEBI after making the required amendments.
Let's take a look at some of the important points about Go Digit General Insurance Limited's IPO from the DRHP.
Go Digit General Insurance Limited is India's one of the most prominent digital full-stack insurance companies.
As full-stack insurers, Go Digit General Insurance Limited is fully licensed and works under the regulations of IRDAI (Insurance Regulatory and Development Authority). The company’s offerings include travel insurance, car insurance, bike/ 2-wheeler insurance, truck insurance, auto-rickshaw insurance, health insurance, marine insurance, property insurance and many more. It also performs activities like sourcing, underwriting and servicing in-house.
The Go Digit team strives to leverage technology to introduce an innovative approach to design, supply, and user experience for insurance products. It aims to make access to insurance products so easy that even a child can understand its significance.
By doing so, the insurer focuses on enhancing literacy about the significance of insurance for an individual. This allows it to achieve the bigger goal which is to gain the trust of its target audience and build a strong and long-term relationship.
Go Digit General Insurance Limited aims to change insurance products and processes by following a three-step rule. These steps include deeply customising and empowering with simplicity, data foundation for future reference and utilising machines as force multipliers.
Talking about the company’s financial performance, the total income of Go Digit General Insurance Limited grew from Rs. 14,192.06 million in FY 2020 to Rs. 38,409.65 million in FY 2022.
Go Digit General Insurance Limited recently filed another DRHP with SEBI after making certain changes. However, the proposed IPO issue size remains unchanged and the approximate worth of the new issue of equity shares is Rs. 1250 crore.
The company plans to use the net proceeds that it earns from this IPO issue to increase its liquidity and maintain its solvency ratio. Interested investors can explore our website and create a Demat and trading account to invest in Go Digit General Insurance Limited IPO.
As stated earlier, Go Digit General Insurance Limited is planning to launch an IPO of an approximate worth of Rs. 12.5 billion. According to its DRHP, the company also plans to issue 10,94,45,561 equity shares as an Offer for Sale from its promoters.
Some of the promoters offering their shares at the OFS are Go Digit Infoworks Services Private Limited, Kamesh Goyal, Kanika Gupta, FAL Corporation and Oben Ventures. The company may also consider a pre-IPO placement of up to Rs. 2.5 crore, which would reduce the size of its fresh issue.
The company is yet to announce their IPO opening and closing dates along with other details like lot size, price band and anchor investor offer price. If the company plans to offer any minimum bid price or an employee discount, it will publish the details a minimum of four weeks before the issue date.
Before making an IPO investment, you must be aware of the strengths and weaknesses of a company. For Go Digit General Insurance Limited, the notable strengths are:
Besides the above strengths, the following risks are also associated with the business of Go Digit General Insurance Limited.
Here are the important details you need to know about the Go Digit General Insurance Limited IPO from its DRHP. These details will help you assess whether the company's objectives with its upcoming IPO align with your investment goals. If yes, you are good to go with the investment.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Standard Deviation: Meaning, How To Use and Calculate
14 Dec, 2024 | 5 Min. read
Business Forecasting: Definition, Methods, and Models
14 Dec, 2024 | 8 Min. read
Modern Portfolio Theory (MPT): Definition, Types & How To Use
14 Dec, 2024 | 8 Min. read
ASM & GSM Meaning - List of ASM & GSM Stocks
14 Dec, 2024 | 7 Min. read
Bollinger Bands: Meaning, How To Interpret and Use
14 Dec, 2024 | 7 Min. read
Hedging: Meaning, Types, Risks and Strategie
14 Dec, 2024 | 6 Min. read
Nifty Healthcare Index
14 Dec, 2024 | 1 Min. read
What Is Nifty BeES? A Guide to Its Benefits and Working
14 Dec, 2024 | 6 Min. read
Moving Averages Indicator: Variations & Examples
13 Dec, 2024 | 4 Min. read
Learn Everything About Breakout Trading
13 Dec, 2024 | 9 Min. read
Gold Price in India | Gold Drops 1% After Reaching Five-Week High
13 Dec, 2024 | 39 Min. read
Statement of Account and Demat Account: Meaning & Differences
13 Dec, 2024 | 4 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading