Hot Pursuit     23-May-24
Go Digit General Insurance gains on debut
Shares of Go Digit General Insurance were currently trading at Rs 296.70 at 10:08 IST on the BSE, representing a premium of 9.08% as compared with the issue price of Rs 272.
The scrip was listed at Rs 281.10, exhibiting a 3.35% premium to the issue price.

So far, the stock has hit a high of 297.5 and a low of 281.10. On the BSE, over 7.04 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Go Digit General Insurance was subscribed 9.60 times. The issue opened for bidding on 15 May 2024 and closed on 17 May 2024. The price band of the IPO was fixed at Rs 258 to 272 per share.

The offer comprised fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.

The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.

Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.

Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.

The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.

Previous News
  Go Digit General Insurance IPO subscribed 36%
 ( IPO Centre - IPO News 15-May-24   17:11 )
  Go Digit General Insurance director resigns
 ( Corporate News - 26-Jun-24   17:30 )
  Go Digit General Insurance AGM scheduled
 ( Corporate News - 18-Jul-24   10:08 )
  Go Digit General Insurance IPO ends with better subscription
 ( IPO Centre - IPO News 18-May-24   17:23 )
  ICICI Lombard and Go Digital General Insurance partner with Flipkart to offer COVID-19 Protection Cover
 ( Corporate News - 10-Apr-20   12:29 )
  Go Digit General Insurance standalone net profit rises 106.35% in the March 2024 quarter
 ( Results - Announcements 12-Jun-24   07:35 )
  Go Digit General Insurance IPO debuts on bourses
 ( Corporate News - 23-May-24   09:13 )
  Go Digit General Insurance to declare Quarterly Result
 ( Corporate News - 12-Jul-24   11:01 )
  Go Digit General Insurance gains after PAT soars to Rs 53 cr in Q4 FY24
 ( Hot Pursuit - 12-Jun-24   11:25 )
  Go Digit General Insurance
 ( IPO Centre - New Issue Monitor 14-May-24   21:41 )
  Go Digit General Insurance gains on debut
 ( Hot Pursuit - 23-May-24   10:14 )
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