Go Digital General Insurance IPO Opens on May 15: Apply Until May 17, Virat Kohli & Anushka Sharma Among Investors

The initial public offering (IPO) of General Insurance’s Bengaluru-based InsurTech startup, Go Digit, will open for public subscription on May 15. Retail investors can bid for this IPO until May 17.

Draft Prospectus Details

According to the draft prospectus, the company aims to raise ₹2,614.65 crore through this issue. For this purpose, the company will issue new shares worth ₹1,125 crore and the current shareholders of the company will offer for sale (OFS) shares worth ₹1,489.65 crore, totaling 5.47 crore shares.

Virat Kohli and Anushka Sharma as Investors

Cricketer Virat Kohli had purchased 266,667 shares of the company for ₹2 crore in 2020. At the same time, his wife and actress Anushka Sharma had invested ₹50 lakh through a private placement. Promoter Go Digit Infovars and other existing shareholders are selling their stakes through the IPO. Both Virat Kohli and Anushka Sharma will remain investors.

How Much Can Retail Investors Bid for?

For this IPO, retail investors will have to apply for at least one lot, which means bidding for 55 shares. The company has fixed the IPO price band per share at ₹258-₹272. If you apply for 1 lot at the upper price band of ₹272, you’ll have to bid ₹14,960. Retail investors can bid for up to 13 lots, i.e., 715 shares, for which they’ll have to bid ₹194,480.

10% Reservation for Retail Investors

Go Digit General Insurance has kept 75% of the issue reserved for Qualified Institutional Buyers (QIBs). Apart from this, approximately 10% of the shares are reserved for retail investors, and the remaining 15% shares are reserved for Non-Institutional Investors (NIIs).