- Company Name: Go Digit General Insurance Limited
- IPO Opening Date: May 15, 2024
- IPO Closing Date: May 17, 2024
- Price Band: ₹258 to ₹272 per equity share
- Face Value: ₹10 per equity share
- Lot Size: 55 equity shares
- Total Shares Offered: [Need to fill in the total number of shares offered in the IPO]
- Total IPO Size: [Need to fill in the total IPO size based on the price band and total number of shares offered]
- Cricket Star Investments: Virat Kohli purchased ₹2 crore worth of shares in 2020, acquiring 2.67 lakh shares, while his wife, actress Anushka Sharma, invested ₹50 lakh in a private placement.
- Go Digit IPO GMP (Grey Market Premium) Today: +47 (As per Market Feedback, It Might be changed)
About Go Digit:
- Headquarters: Bengaluru, India
- Business Scope: Go Digit is a full-stack digital insurance company offering a wide range of insurance products, including motor, health, travel, property, marine, liability, and others.
- Product Customization: The company prides itself on providing customized insurance policies tailored to meet the specific needs of its customers.
- Product Portfolio: Go Digit boasts an impressive lineup of 74 active products across all its business lines, showcasing its versatility and commitment to innovation.
Financial Highlights:
- Net Profit for 9MFY24: ₹1,290 crore (up from ₹100.21 crore for the corresponding period of FY23)
- Profit at the end of FY23: ₹355.47 crore
- Financial Growth: The substantial increase in net profit underscores Go Digit’s remarkable financial performance and its ability to capitalize on opportunities in the insurance market.
Risks and Challenges:
- Profitability Concerns: The company has disclosed concerns about maintaining profitability in the future.
- Loss Reserves: There is a risk associated with the adequacy of its loss reserves, which are based on estimates of future claims liabilities.
- Legal Proceedings: Go Digit is involved in outstanding legal proceedings concerning its promoters and directors.
- Market Risks: Fluctuations in interest rates or adverse movements in the equity markets in India could impair the value of its investment portfolio.
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