Go Digit General Insurance IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Go Digit General Insurance IPO. Explore Go Digit General Insurance IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.
Overview
Go Digit General Insurance Limited is a leading digital full stack insurance company dedicated to simplifying insurance for customers. Leveraging innovation and transparency, the company aims to offer a seamless customer experience across various non-life insurance products. As a digital full stack insurer, Go Digit handles sourcing, underwriting, and servicing in-house, utilizing technology to enhance product design, distribution, and customer interaction.
Key Points:
- Product Offering: Go Digit provides a wide range of insurance products, including motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and more. Customers can customize these products to suit their individual needs, ensuring comprehensive coverage for various risks.
- Market Position: According to the RedSeer Report, Go Digit is a dominant player in the digital full stack insurance segment, capturing a significant share of the non-life insurance market. The company has demonstrated rapid growth, catering to a large portion of the Gross Written Premium (GWP) written by digital full stack insurance players in India.
- Technology Integration: Go Digit integrates technology throughout its operations, from enrollment to claims processing, underwriting, policy administration, data insights, and fraud detection. This tech-enabled approach enhances efficiency, speed, and accuracy in delivering insurance services.
- Customer Base: With over 43 million customers since its inception in 2017, Go Digit has established itself as a trusted insurer. The company's customer base spans across various insurance products, with a significant number of customers in motor insurance, health insurance, and other insurance categories.
- Financial Performance: Go Digit has shown impressive growth in Gross Written Premium (GWP) over the years, with a Compound Annual Growth Rate (CAGR) of 49.4% from Financial Year 2021 to Financial Year 2023.
Objects of the Issue
- Maintenance of solvency ratio
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 15 May - 17 May 2024 |
| IPO Price Band | ₹ 258 - 272 per share |
| Fresh Issue | Aggregating up to ₹ 1,125.0 crore |
| Offer For Sale | Up to 54,766,392 shares (₹ 1,489.65 crore) |
| Total IPO Size | Approx ₹ 2,614.65 crore |
| Face Value | ₹ 10 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 15 May 2024 |
| IPO Closing Date | 17 May 2024 |
| Basis Of Allotment | 21 May 2024 |
| Refunds | 22 May 2024 |
| Demat Transfer | 22 May 2024 |
| IPO Listing Date | 23 May 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| Total Income | 2,873.66 | 4,535.34 | 6,525.90 | 6,267.10 |
| Total Expenses | NA | NA | NA | NA |
| Net Profit/Loss | -122.76 | -295.85 | 35.55 | 129.02 |
| NPM (*) | NA | NA | NA | NA |
| Total Assets | 6,004.12 | 10,047.73 | 13,489.56 | 16,017.15 |
| Total Liabilities | 4,827.42 | 8,154.51 | 11,137.25 | 13,526.40 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| EPS | -1.50 | -3.55 | 0.40 | 1.46 |
| ROE (%) | -10.8 | -15.9 | 1.5 | 5.3 |
| ROCE (%) | NA | NA | NA | NA |
| D/E Ratio | NA | NA | NA | 0.08 |
| Current Ratio | NA | NA | NA | NA |
| EBITDA MARGIN (%) | -3.5 | -5.4 | 0.7 | 2.1 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Go Digit General Insurance Limited | 5,885.70 | 680.0 | 0.40 | 1.53 | 26.61 |
| New India Assurance Company Limited | NA | 38.47 | 6.36 | 5.13 | 125.64 |
| Star Health and Allied Insurance Company Limited | NA | 53.79 | 10.41 | 11.39 | 93.35 |
| ICICI Lombard General Insurance Company Ltd | NA | 48.14 | 35.16 | 16.64 | 211.60 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 12.56 |
| Non-Institutional Investor (NII/HNI) | 7.24 |
| Retail Individual Investor (RII) | 4.27 |
| Total | 9.6 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
- KAMESH GOYAL
- GO DIGIT INFOWORKS SERVICES PRIVATE LIMITED
- OBEN VENTURES LLP
- FAL CORPORATION
Lead Managers
- ICICI Securities Limited
- Morgan Stanley India Company Private Limited
- Axis Capital Limited
- HDFC Bank Limited
- IIFL Securities Limited
- Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited)
Company Address
Go Digit General Insurance
1 to 6 Floor, Ananta One, Pride Hotel Lane, Narveer Tanaji Wadi, City Survey No.1579, Shivajinagar, Pune 411005, Maharashtra, India
Phone: +91 20 67495400
Email: cs@godigit.com
Website: https://www.godigit.com
FAQs
- What is the issue size of the Go Digit General Insurance IPO?The Go Digit General Insurance IPO has an issue size of Approx ₹ 2,614.65 crore. This includes a fresh issue of Aggregating up to ₹ 1,125.0 crore and an offer for sale (OFS) of Up to 54,766,392 shares (₹ 1,489.65 crore).
- What is the price band of the Go Digit General Insurance IPO?The price band for the Go Digit General Insurance IPO is ₹ 258 - 272 per share.
- What are the bidding dates for the Go Digit General Insurance IPO?The Go Digit General Insurance IPO will open for bidding on 15 May 2024 and close on 17 May 2024.
- What is the allotment date for the Go Digit General Insurance IPO?The allotment date for the Go Digit General Insurance IPO is 21 May 2024.
- What is the listing date for the Go Digit General Insurance IPO?The listing date for the Go Digit General Insurance IPO is 23 May 2024.
- What is the Go Digit General Insurance IPO grey market premium?The grey market premium (GMP) for the Go Digit General Insurance IPO is currently at ₹4, with an expected listing gain of approximately 1.47%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.