Go Digit General Insurance Ltd IPO
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Go Digit General Insurance Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| 961.27 L | 547.66 L | 96.13 L | 7,295.65 L | BSE | ₹ 2614.65 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 15 May, 24 | 17 May, 24 | 55 | ₹ 14,190 | Book Building | 23 May, 24 |
Go Digit General Insurance Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Finance & Investments |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 5.02x | 72095014 | 362269545 |
| NII | 7.24x | 14419003 | 104340610 |
| Retail | 4.27x | 9612669 | 41011300 |
| Employee | 0x | 0 | 0 |
| Total | 5.28x | 96126686 | 507621455 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Go Digit General Insurance Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 50.69 | -283.40 | -113.79 |
| EBITDA | 65.83 | -270.95 | -104.82 |
| PAT | 35.55 | -295.85 | -122.76 |
| Total Assets | 938.49 | 651.87 | 471.49 |
| Share Capital | 874.02 | 859.01 | 824.69 |
| Total Borrowings | 659.19 | 505.35 | 311.60 |
| Operating Activities (Net Cash) | 50.69 | -283.40 | -113.79 |
| Investing Activities (Net Cash) | 12,387.66 | 9,223.59 | 5,349.39 |
| Financing Activities (Net Cash) | 659.19 | 505.35 | 311.60 |
| Net Cashflow | 279.30 | 146.52 | 159.89 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Go Digit General Insurance Ltd
Go Digit General Insurance Limited was incorporated as `Oben General Insurance Limited' at Pune, Maharashtra, under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 7, 2016, issued by the Registrar of Companies, Maharashtra at Pune (RoC). Subsequently, pursuant to a resolution of its Board dated May 23, 2017 and a resolution of its Shareholders dated May 23, 2017, the name of the Company was changed from `Oben General Insurance Limited' to `Go Digit General Insurance Limited', and a fresh certificate of incorporation under the Companies Act, 2013 was issued by the RoC on June 12, 2017.
According to the IRDAI and RedSeer Report (page 14) which has been commissioned and paid for by our Company exclusively in connection with the Offer, the Indian non-life insurance contributed around US$33.30 billion in GWP in Financial Year 2023, showing a CAGR of 11.2% from Financial Year 2018 to Financial Year 2023 and a CAGR of 13.6% from Financial Year 2021 to Financial Year 2023. It is estimated that, as of nine months ended December 31, 2023, non-life insurance contributed around US$27.50 billion in GWP from US$24.60 billion in GWP for the nine months ended December 31, 2022, indicating positive growth momentum, according to RedSeer Report (page 14) which has been commissioned and paid for by the Company exclusively in connection with the Offer.
Peer Comparison:
- Star Health & Allied Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- New India Assurance Company Ltd
Go Digit General Insurance Ltd IPO Key Points
Strengths
- Simple and Tailored Customer Experience.
- Its Focus on Empowering its Distribution Partners.
- Predictive Underwriting Models.
- Advanced Technology Platform.
- A nimble organization with a skilled and experienced management team.
Risk
- The company has a track record of reporting losses and, its may not be able to maintain profitability in the future. Its limited operating history makes it difficult to accurately evaluate its future business prospects.
- Its loss reserves are based on estimates as to future claims liabilities and if they prove inadequate, it could lead to further increases in reserves and materially adversely affect its results of operations.
- The company is required to meet the mandatory control level of solvency margin as prescribed under the Insurance Act and the company could be subject to regulatory actions and could be forced to stop transacting any new business or change its business strategy which can slow down the companay's growth.
Strategy
- Be known as a leader in customer service.
- Acquire new customers across its current products in the Indian non-life insurance market.
- Grow its product portfolio to meet Indian market needs and drive further adoption across its product suite.
- Expand into new geographies within India.
- Optimize customer experience and boost operating leverage through continued investment in technology.
- Simple and Tailored Customer Experience.
- Its Focus on Empowering its Distribution Partners.
- Predictive Underwriting Models.
- Advanced Technology Platform.
- A nimble organization with a skilled and experienced management team.
How To Apply for Go Digit General Insurance Ltd Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
