Go Digit’s shares were listed on Thursday but it remained lukewarm in the stock market. The price of one share of Go Digit opened at Rs 286 per share on the National Stock Exchange i.e. NSE. This is just 5.15 percent more than the issue price of Rs 272. The share price of Go Digit opened at Rs 281.10 per share on Bombay Stock Exchange i.e. BSE on Thursday, which is only 3.35 percent more than the issue price. According to Livemint, BSE data states that the IPO’s subscription status on the last day was 9.60 times.
How much subscription was received
According to the news, the allotment segment for qualified institutional buyers (QIBs) received 12.56 times subscription, the non-institutional investors group received 7.24 times subscription. The section for retail individual investors (RIIs) was subscribed 4.27 times. Let us tell you, Go Digit General Insurance IPO opened for subscription on 15th May and closed on 17th May. According to BSE data, Go Digit IPO was subscribed 79 percent on the second day of bidding on Thursday and 36 percent of the issue was booked on the first day of bidding.
Promoters of the firm
10% of the issue size is reserved for retail investors, 15% for non-institutional investors and approximately 75% of the issue size is reserved for qualified institutional investors. Red Herring Prospectus (RHP) The firm is recognized as one of the leading digital full stack non-life insurance providers. He follows a creative approach to the design, delivery and customer experience of non-life insurance products that is driven by technology. The promoters of the firm include Kamesh Goyal, Godigit Infoworks Services Pvt Ltd, Oben Ventures LLP and FAL Corporation.
In 2020, cricketer Virat Kohli invested ₹2 crore for 2.67 lakh shares of the company while his wife, actress Anushka Sharma invested ₹50 lakh in a private placement. Go Digit General Insurance Limited achieved a growth of 113.35% in revenue and 112.01% and 112.01% in profit after tax (PAT) respectively between March 31, 2022 and March 31, 2023.
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