GO Digit General Insurance limited strive to simplify insurance. They believe in providing a smooth customer experience journey for a big financial product a person would buy in their lifetime through innovation and openness.). GO Digit General Insurance IPO will hit the stock market in December 2022.
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About GO Digit General Insurance
They are one of the top digital full stack insurance providers, & they use technology to support what they see as an innovative strategy for non-life insurance product design, distribution, and customer experience.
They provide a variety of insurance products that the consumer can personalise to suit his or her needs, including auto insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and others.
According to the RedSeer Report, which has been commissioned & paid for exclusively by them in connection with the Offer, their Organization provides approximately 82.9% of the GWPs written by these digital full stack insurance players ( 52.68 billion in terms of GWP in Fiscal 2022), making it the largest online full stack insurance player in India.
Business
They were the fastest-growing insurer among the top 10 private general insurers by GWP during the pandemic in Fiscal 2020 & Fiscal 2021, according to the RedSeer Report, which has been exclusively commissioned & paid for by them in conjunction with the Offer.
Since the start of their insurance activities in 2017, there have been more than 30 million people who have either been their customers or have benefited from the insurance advantages under the various policies they have issued As of the date of this DRHP. They have a proven history of generating growth.
Their GWP in the fiscal years 2022, 2021, & 2020 was respectively $52.68, $32.43, and $22.52 billion, reflecting a CAGR of 52.9% from fiscal 2020 to fiscal 2022.
Revenue
According to the RedSeer Report, which has been purely commissioned and paid for by GO Digit General Insurance limited in connection with the Offer, they had a loss ratio of roughly 74.0% as of Fiscal 2021 and Fiscal 2022, while the loss ratio of the non-life private and the public insurers in India was 81.1% as of Financial year 2021 and 89.3% as of Financial year 2022.
GO Digit General Insurance limited’s GWP per employee for Fiscal 2022 was $23.39 million, as compared to an average of $16–21 million for non-life insurance companies in India for the same period, according to the RedSeer Report, with 2,568 employees as of March 31, 2022 and 1,936 employees as of March 31, 2021.
GO Digit General Insurance IPO
GO Digit General Insurance Limited, headquartered in Ahmedabad has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 1,250 Crore and 109,445,561 Equity Shares on 14 August 2022.
The offer includes a fresh issue of INR 1250 crore and there is offer for sale (OFS) of 109,445,561 Equity Shares by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement of INR 250 Crore in this issue.
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- Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 651.87 | 471.49 | 330.08 | ||
| Total Revenue | 63.18 | 41.83 | 17.46 | ||
| Loss After Tax | (295.86) | (122.76) | (175.24) | ||
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2020 | (2.41) | (2.41) | 3 |
| Financial Year 2021 | (1.50) | (1.50) | 2 |
| Financial Year 2022 | (3.55) | (3.55) | 1 |
| Weighted Average | (2.68) | (2.68) | |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
- Their intended use of the Net Proceeds has not been evaluated and is based on management projections, the existing state of the operations, and the current market environment, all of which are liable to change. Therefore, the decision to use the Net Proceeds will be entirely up to the management.
Basis of the offer
GO Digit General Insurance limited feel that the following qualitative factors & business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the offer price:
- Excellent customer service.
- Empowering their Distribution Partners is their main priority.
- Models for predictive underwriting.
- Attract younger clients.
- Platform for Advanced Technology.
- A quick-moving company with a knowledgeable and experienced management team.
GO Digit General Insurance Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Star Health and Allied Insurance Company Limited | 35.31 |
| 2 | 1 | ICICI Lombard General Insurance Company Limited | 26.95 |
- All financial data for listed industry peers is on a standalone/consolidated basis and comes from the audited consolidated/standalone financial statements of the respective firms for the year ending March 31, 2021, which can be found on the Stock Exchanges’ websites.
- The P/E ratio is calculated by dividing the closing market price of equity shares on the BSE on August 08, 2022 by the diluted EPS derived from the peer group company’s annual report for the year ended March 31, 2021.
GO Digit General Insurance IPO Details
| IPO Opening Date | December 2022 |
| IPO Closing Date | December 2022 |
| Issue Type | Book Building |
| Face Value | 10 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 0 |
| Fresh Issue | 1,250 Crore |
| Offer for Sale | 109,445,561 Equity Shares |
GO Digit General Insurance IPO Date
GO Digit General Insurance Limited IPO opening date is December 2022, and the closing date is December 2022. The GO Digit General Insurance issue may list in December 2022.
| IPO Opening Date | December 2022 |
| IPO Closing Date | December 2022 |
| Basis of Allotment Date | December 2022 |
| Initiation of Refunds | December 2022 |
| Credit of Shares to Demat Account | December 2022 |
| IPO Listing Date | December 2022 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 75 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 10 | Minimum 1 lot based on availability |
GO Digit General Insurance India Limited IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of GO Digit General Insurance IPO.
GO Digit General Insurance IPO GMP
GO Digit General Insurance Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Check Out the GMP of all Other IPOs
GO Digit General Insurance Limited IPO Review
GO Digit General Insurance Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of GO Digit General Insurance IPO is good or bad.
GO Digit General Insurance Limited IPO Risk
- They have a history of disclosing losses, and it’s possible that they won’t ever turn a profit.
- It is impossible to adequately assess their future commercial prospects given their short working experience.
- Their loss reserves are based on projections of future claims obligations; if these projections prove to be unreliable, more increases in reserves may be required, which would considerably negatively affect their cash flow & operating results.
- There are ongoing legal processes regarding their business, their promoters, and their directors that could significantly affect their company.
- They have previously filed regulatory documents late, which could result in penalties.
- Their business will suffer if they are unable to appropriately assess risks and charge clients premiums that are both competitive and lucrative.
Other Threats
- They might need more money to expand their company, but it might not be available to them at all or on conditions they can live with.
- They might be subject to regulatory action, compelled to stop doing any new business, alter their company plan, or see their growth slowed down if they don’t fulfil the requirements for solvency ratios.
- The COVID-19 effect and associated risks could significantly harm their financial status.
- Their business, financial situation & prospects may be considerably and negatively impacted by the denial of claims or their inability to accurately & promptly pay claims.
- Since the actuarial valuations for some obligations are not obliged to be audited, an inaccurate valuation could have a negative impact on the company’s operations.
GO Digit General Insurance Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this GO Digit General Insurance IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
GO Digit General Insurance Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| December 2022 | 1 | |||||
| December 2022 | 2 | |||||
| December 2022 | 3 |
GO Digit General Insurance Limited Management
Their seasoned management team supports agile decision-making & execution while embracing a legacy-light paradigm. They support a culture of innovation by making ongoing investments in technology & people to gain a foothold in the market.
Experienced specialists from the banking, financial services, & insurance sectors make up their management team. They have developed a workforce that adheres to their corporate culture and cooperates to carry out their mission thanks to their leadership.
Their workforce consists of both industry experts with experience in the insurance industry and technology specialists with knowledge of current market trends and emerging technologies.
Their organisational structure is open and flat, and their culture is strongly influenced by the two basic values of “challenge the status quo” and “be transparent.”
GO Digit General Insurance Limited‘ Promoters
- Kamesh Goyal
- Go Digit Infoworks Services Private Limited
- Oben Ventures LLP
- FAL Corporation
Principal Shareholder’s Holding
| Pre Issue Share Holding | 83.65% |
| Post Issue Share Holding |
GO Digit General Insurance Limited Prospectus
Contact Details
GO Digit General Insurance Limited
1 to 6 Floor, Ananta One, Pride Hotel Lane,
Narveer Tanaji Wadi, City Survey No.1579,
Shivajinagar, Pune 411005, Maharashtra,
India
Tel: +91 20 67495400
E-mail: [email protected]
Website: www.godigit.com
Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park,
L.B.S. Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: + 91 22 4918 6200
E-mail: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- ICICI Securities Limited
- Morgan Stanley India Company Private Limited
- Axis Capital Limited
- Edelweiss Financial Services Limited
- HDFC Bank Limited
- IIFL Securities Limited
We hope we are able to answer all your questions about GO Digit General Insurance IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
Profit must do not engage in grey market trading or facilitate the purchase or sale of IPO forms. We don’t endorse such activities at all. We are sticky against such activities & never advise anyone to trade in grey market at all.
FAQ
GO Digit General Insurance Limited IPO Opening Date?
GO Digit General Insurance Limited IPO will open in December 2022.
GO Digit General Insurance Limited IPO Listing Date?
GO Digit General Insurance Limited IPO will list in December 2022.
GO Digit General Insurance IPO GMP Today?
GO Digit General Insurance IPO Grey Market Premium is INR 0 .
GO Digit General Insurance Limited IPO Allotment Date?
GO Digit General Insurance Limited IPO basis of allotment will be in December 2022.
Lot size for GO Digit General Insurance Limited IPO?
Lot size for GO Digit General Insurance Limited IPO is 0.
