Incorporated in December 2016, Go Digit General Insurance Limited is an insurance provider offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which customers can customize to meet their needs.
The company has currently launched a total of 74 active products across all its business lines.
As of December 31, 2023, the company had about 61,972 partners, including 58,532 POSPs and other agents.
As of December 31, 2023, the company had a distribution centers in 24 states and union territories in India.
As of Dec 31, 2023, company had 473 active bots to automate tasks for functions and partners.
As of December 31, 2023, the company currently operates 75 offices throughout India.
As of March 31, 2023 and December 31, 2023, the company had 3,333 and 3,957 employees, respectively.
| Purpose | Amount (₹ Cr) |
|---|---|
| To undertake its existing business activities; and | — |
| To undertake the activities proposed to be funded from the Net Proceeds. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, which, the company believes, will enhance the visibility and its brand image among its existing and potential customers. | — |
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 3,620 | 3,347 | 2,919 |
| Revenue | 131 | 39 | -294 |
| PAT | 129 | 36 | -296 |
| Net Worth | 2,459 | 2,325 | 1,867 |
| Reserves | 2,392 | 2,384 | 1,975 |
| Total Borrowing | 200 | — | — |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 72,095,016 (75%) | — |
| NII / HNI | — | 14,419,002 (15%) | — |
| Retail (RII) | — | 9,612,668 (10%) | — |
| Total | — | 96,126,686 (100%) | — |
* Amount calculated at upper price band (₹272) · ** Total includes all investor categories
- 1 Initiation of Refund 22 May 2024
- 2 Credit of Shares to Demat 22 May 2024
- 3 Lock-in Period (30%) June 20, 2024
- 4 Lock-in Period (50%) August 19, 2024
- Retail allocation is weak at 10% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 75%.
- The IPO P/E of 145x reflects a weak valuation relative to typical market ranges.
- Pre-issue EPS of ₹0 compares to post-issue EPS of ₹2 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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