About the Company:
Founded in 2016 by Kamesh Goyal, Go Digit Insurance stands out as a prominent Insurtech firm headquartered in India. Since its establishment, Digit has swiftly risen to prominence within the insurance sector, distinguished by its trailblazing use of advanced technology to craft innovative solutions.
Company Overview
Digit Insurance boasts a diverse portfolio of insurance products spanning health, motor, travel, and home insurance. What distinguishes Digit is its unwavering dedication to delivering customer-centric solutions characterized by simplicity, transparency, and convenience.
Objectives of the IPO:
The impending Initial Public Offering (IPO) of Go Digit General Insurance marks a significant milestone in the company's trajectory. The primary aims of the IPO encompass:
- Funding Existing Business Activities: Deploying the net proceeds to bolster ongoing business operations.
- Undertaking Proposed Activities: Allocating funds outlined in the IPO prospectus to further enrich the company's offerings and extend its reach.
Summary of Financial Information:
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|---|
| Assets | 3,619.95 | 3,346.75 | 2,919.01 | 1,874.80 |
| Revenue | 130.83 | 39.19 | -293.64 | -118.55 |
| Profit After Tax | 129.02 | 35.54 | -295.85 | -122.76 |
| Net Worth | 2,459.34 | 2,325.47 | 1,866.87 | 1,134.57 |
| Reserves and Surplus | 2,391.97 | 2,383.61 | 1,975.07 | 973.14 |
| Total Borrowing | 200 |
Comparison with the Listed Peers:
| Company Name | P/E (x) | ROE (%) | PBV (x) |
|---|---|---|---|
| Go Digit General Insurance Limited | 670.31 | 1.53 | 9.67 |
| The New India Assurance Company Ltd | 38.47 | 5.13 | 1.95 |
| Star Health And Allied Insurance Company Limited | 53.79 | 11.39 | 6 |
| ICICI Lombard General Insurance Company Ltd | 48.14 | 16.64 | 8 |
Key details of the IPO:
- IPO Dates: May 15 to May 17, 2024
- Price Band: Rs. 258 to Rs. 272 per share
- Lot Size: 55 shares
- Total Issue Size: Rs. 2,614.65 crores (Fresh Issue: 1125 Cr.)
- Listing Date: May 23, 2024
- Retail Quota: 10%
- Grey Market Premium (GMP): Rs. 44 (Only For Information Purposes)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
