₹ 14960 / 55 shares

IPO Details

RHP/DRHP

Issue Date

15 May - 17 May'24

Investment/lot

₹ 14960

Price Range

258 - 272

Lot Size

55

IPO Size

₹ 2614.65 Cr

IPO Listing Details

Listing On

23 May'24

Issue Price

272

Listed Price

₹ 286

Retail Gain/Listing Gain

5.15%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

WATCH AND LEARN
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Go Digit General Insurance’s IPO opens for subscription today. The company aims to raise over ₹2,614.65 crore, with a price band of ₹258 to ₹272 per share.

Go Digit General Insurance is one of the leading digital full-stack non-life insurance companies, leveraging technology to power an innovative approach to product design, distribution and customer experience for non-life insurance products.

The company offers motor, health, travel, property, marine and liability insurance, among other insurance products, which customers may customise to meet their individual needs.

With that, let's take a look at the competitive strength and risk factors for Go Digit General Insurance Limited:

High-quality customer experience

The company is dedicated to establishing trust and promoting transparency in customer relationships by simplifying insurance and offering easy-to-understand, customisable products that enhance the customers’ experience. The company’s focus on the customer experience has resulted in high customer satisfaction, evidenced by its net promoter scores of 75.4% for non-claims and 96.8% for motor claims as of December 31, 2022, and high customer satisfaction by users of the “Digit Insurance” mobile application available on android and iOS.

Advanced technology platform

Their technology serves as a key differentiator in the insurance sector, enabling efficient underwriting. Employing a hybrid model of AI-enabled analytics and human assessment, they streamline the value chain, benefiting customers, partners, and employees while driving efficiency. In-house microsystems around their technology core facilitate routine tasks, including policy design, underwriting, pricing, issuance, servicing, and claims management. The entire platform operates in the cloud, ensuring agility, connectivity, and scalability.

Predictive Underwriting Models

They have leveraged their expertise in the motor insurance market and utilised their data bank to construct comprehensive underwriting models. These models enable accurate risk assessment and loss prediction at a granular level for their motor insurance products. This approach enhances cost management, enabling them to tailor products more effectively, and expand their customer base. The resulting data forms a pricing feedback cycle, aiding in continuous product refinement and cost reduction.
  • Sustaining profitability in the future remains uncertain given their track record of losses.

  • Their loss reserves, based on future claims estimates, may need adjustments, potentially impacting operational results.

  • Falling short of IRDAI's mandatory ratios may lead to regulatory actions, impacting new transactions and necessitating changes to the business strategy and growth plans.

Key Strategies

  • Be known as a leader in customer service.

  • Acquire new customers across the company’s current products in the Indian non-life insurance market.

  • Grow the product portfolio to meet Indian market needs and drive further adoption across its product suite.

Here are the key financials for Go Digit General Insurance Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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How to apply for IPO through ASBA

How to apply for IPO through ASBA

Kotak Securities

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for Go Digit General Insurance Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Go Digit IPO FAQs

Go Digit IPO will list on 2024-05-23.

2614.65 is the issue size of Go Digit IPO.

The minimum lot size is 55 shares and the investment required is ₹14960.

The price band of Go Digit IPO is ₹258 to ₹272.

You can read more about Go Digit and its IPO from the company’s red herring prospectus (RHP) here.

The Go Digit General Insurance Limited IPO has an issue size of Rs. 2,615 crores. The IPO opens for subscription on 15th May 2024 and closes on 17th May 2024

Link Intime India Private Limited is the registrar for this IPO.

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