Go Digit General Insurance IPO Set To Launch On May 15: Sources | Business News

Published: 07 May 2024
on channel: ET NOW

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Go Digit General Insurance is gearing up for its long-awaited Initial Public Offering (IPO), scheduled to hit the market on May 15th, 2024. The company, which specializes in a diverse array of insurance products such as motor, health, travel, property, and marine insurance, has finally received the green light from the Securities and Exchange Board of India (SEBI) in March 2024, after encountering multiple delays in the approval process.
According to sources close to the matter, the price band for the IPO is anticipated to be announced on May 10th, providing potential investors with crucial information ahead of the offering. The IPO comprises a fresh issue of shares valued at Rs 1,250 crore, with promoters and existing shareholders set to offer 10.94 crore equity shares for sale.
Aiming to bolster its capital base and maintain solvency levels, Go Digit plans to utilize the net proceeds generated from the IPO. The company's stakeholders include prominent names in the industry, such as Prem Watsa’s Fairfax group and insurance industry veteran Kamesh Goyal. Notably, the company counts Indian cricket icon Virat Kohli and his spouse, Bollywood actor Anushka Sharma, among its investors.
Market analysts are closely monitoring the developments surrounding Go Digit's IPO, anticipating significant interest from investors given the company's robust performance and strategic positioning in the insurance sector.

#godigit #godigitinsuranceipo #ipotracker #stocksinnews #businessnews #etnow
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