Go Digit IPO Lists at 5.15% Premium on NSE

Modest listing for Go Digit General Insurance in NSE

Go Digit General Insurance had a modest listing on 23rd May 2024, listing at ₹286 per share, a premium of 5.15% over the issue price of Rs272. Here is the pre-open price discovery for the Mainboard IPO of Go Digit General Insurance on the NSE.

Data Source: NSE

The mainboard, Go Digit General Insurance IPO was a book built IPO with a price band of ₹258 to ₹272 per share. The price was discovered at the upper end of the band at ₹272 per share. On 23rd May 2024, the stock of Go Digit General Insurance listed on the NSE Mainboard segment at a price of ₹286 per share, a premium of 5.15% over the IPO issue price of ₹272. For the day, the upper circuit price has been set at ₹343.20 and the lower circuit price has been set at ₹228.80. As of 10.00 am, the volumes were 208.89 lakh shares while the turnover (value) was at ₹598.56 crore on NSE. The stock has a face value of ₹10 per share and the applicable margin rate is 12.5%. The opening market cap of the stock stands at ₹26,975 crore. The stock will be traded in the regular rolling segment of the NSE.  At 10.05 am, it is trading higher at ₹294.10 per share.

How Go Digit General Insurance listed on BSE?

The Mainboard IPO of Go Digit General Insurance was a book built IPO priced at the upper end of the band at ₹272 per share. On 23rd May 2024, the stock of Go Digit General Insurance listed on the BSE mainboard segment at a price of ₹281.10 per share, a premium of 3.35% over the IPO issue price of ₹272. For the day, the upper circuit price has been set at ₹337.30 and the lower circuit price has been set at ₹224.90. As of 10.00 am, the volumes were 6.33 lakh shares while the turnover (value) was at ₹18.10 crore on BSE. The stock has a face value of ₹10 per share. The stock will be traded in the regular rolling segment of the BSE in T+1 settlement. The market cap of the stock stands at ₹27,021 crore with free float market at ₹4,594 crore. At 10.05 am, it is trading higher at ₹293.65 per share.

Go Digit General Insurance – About the IPO

The IPO of Go Digit General Insurance was open from May 15th, 2024 to May 17th, 2024; both days inclusive. The stock of Go Digit General Insurance has a face value of ₹10 per share and the price band for the book building IPO has been set in the range of ₹258 to ₹272 per share. The IPO of Go Digit General Insurance will be a combination of a fresh issue of shares and offer for sale (OFS) component. The fresh issue tends to bring in fresh funds into the company, but is also EPS and equity dilutive, while the OFS is just a transfer of ownership. The fresh issue portion of the IPO of Go Digit General Insurance comprises the issue of 4,13,60,294 shares (413.60 lakh shares approximately), which at the upper price band of ₹272 per share will translate into a fresh issue size of ₹1,125 crore. The offer for sale (OFS) portion of the IPO of Go Digit General Insurance comprises the sale / offer of 5,47,66,392 shares (547.66 lakh shares approximately), which at the upper price band of ₹272 per share will translate into an OFS size of ₹1,489.65 crore.

Out of the OFS size of 547.66 lakh shares, the promoter shareholder (Go Digit Infoworks Services Private Ltd) will be selling bulk of 547.56 shares. The balance 10,778 shares will be sold by 3 investor shareholders in the company. Thus, the total IPO of Go Digit General Insurance will comprise of a fresh issue and an OFS of 9,61,26,686 shares (961.27 lakh shares approximately) which at the upper end of the price band of ₹272 per share aggregates to total issue size of ₹2,614.65 crore. The IPO of Go Digit General Insurance will be listed on the NSE and the BSE on the IPO mainboard.

Read more about Go Digit IPO

The fresh funds will be used for funding its digital and omnichannel growth in future and to spruce up its capital base. The promoters of Go Digital General Insurance Ltd are Kamlesh Goyal, Go-Digit Infoworks Services Private Ltd, Oben Ventures LLP, and FAL Corporation. Virat Kohli and Anushka  Sharma have also invested in the company. The IPO will be lead managed by ICICI Securities, Morgan Stanley India, Axis Capital, HDFC Bank, IIFL Securities, and Nuvama Wealth Management; while Link Intime India Private Ltd will be IPO registrar.