Go Digit IPO: Anushka-Virat Backed Public Issue Share Allotment To Be Finalized Today; Check Status

Go Digit General Insurance Ltd's allotment of its initial public offering (IPO) is expected to be finalized today. This IPO has garnered substantial interest from investors since its subscription period, which opened on May 15 and concluded on May 17.

The Go Digit IPO witnessed a healthy response, reflecting strong investor confidence in the digital insurance provider. During the subscription period, the IPO was subscribed an impressive 9.60 times overall. Breaking it down, retail investors subscribed 4.27 times the available shares, Non-Institutional Investors (NII) subscribed 7.24 times, and Qualified Institutional Buyers (QIBs) led the charge with a subscription rate of 12.56 times. These figures show the broad-based appeal and anticipated growth trajectory of Go Digit General Insurance.

Investors who have bid for shares in the Go Digit IPO can check their allotment status online once the basis of allotment is finalized. The shares will be credited to the demat accounts of successful bidders on May 22, and refunds will be initiated on the same day for those whose bids were not accepted. The company's registrar, Link Intime India Pvt Ltd, facilitates the process. Here's how investors can check their allotment status:

Steps to Check Go Digit IPO Allotment Status on Link Intime:

Visit the Link Intime India website: Link Intime IPO Status.

Select 'Go Digit General Insurance Limited' from the dropdown menu.

Choose one of the following options: PAN, Application No., DP/Client ID, or Account No./IFSC.

Enter the relevant details based on the option selected.

Click on 'Submit' to view your allotment status on the screen.

Additionally, investors can check their status through the BSE website, providing multiple avenues for accessing this crucial information.

As of today, the Grey Market Premium (GMP) for Go Digit shares stands at Rs 26 per share. This suggests that the shares are trading at a premium of Rs 26 over their issue price of Rs 272 apiece in the grey market. Given this premium, the estimated listing price for Go Digit shares is approximately Rs 298 per share, translating to a potential listing gain of 9.56%.

The Go Digit IPO was launched with a price band set between Rs 258 and Rs 272 per share. At the upper end of this band, the total IPO size is Rs 2,614.65 crore. This comprises a fresh issue of 4.14 crore equity shares amounting to Rs 1,125 crore, alongside an offer for sale (OFS) component of 5.48 crore shares totalling Rs 1,489.65 crore.

ICICI Securities, Morgan Stanley India Company, Axis Capital, HDFC Bank, IIFL Securities, and Nuvama Wealth Management served as the book running lead managers for the IPO. The allocation and refund processes are managed by Link Intime India Pvt Ltd.

Go Digit General Insurance Ltd has established itself as a digital full-stack non-life insurance provider in India. The company's approach and digital-first strategy have resonated well with customers and investors alike.

Highlighting the company's notable backers, Indian cricket star Virat Kohli acquired 2.67 lakh shares for Rs 2 crore in 2020, and his wife, actress Anushka Sharma, invested Rs 50 lakh through a private placement.

Following the allotment, Go Digit shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on May 23. This marks another step in the company's journey, providing liquidity to its investors and broadening its financial base.

With the allotment results due today, investors are watching the outcome, anticipating potential gains from the listing on May 23. The robust subscription rates and positive grey market activity suggest a promising debut for Go Digit shares. As the company continues to leverage its digital prowess in the insurance sector, investors are optimistic about its future performance and growth prospects.