Go Digit General Insurance IPO Subscribed 79% On Day 2
The IPO has been subscribed 0.79 times, or 79%, as of 5 p.m. on Thursday.
Go Digit General Insurance Ltd. launched its three-day initial public offering on Wednesday to raise over Rs 2,600 crore. It was subscribed 36% on the first day and subscribed 79% on day two.
The startup's IPO consists of a fresh issue of equity shares of face value of Rs 10 each, aggregating up to Rs 1,125 crore. The offer-for-sale portion is worth Rs 1,489.6 crore at the upper end of the price band, which has been fixed in the range of Rs 258–272 per share.
As a part of the OFS, promoter Go Digit Infoworks Services Pvt. will offload 5.74 crore equity shares, which were acquired at a weighted average cost of Rs 13.57 per share. Selling at the upper end of the price band would get them a profit of Rs 1,415 crore.
The Pune-based company aims to utilise the net proceeds towards maintenance of its solvency ratio, according to the red herring prospectus. The company allotted 4.32 crore shares at Rs 272 apiece to 56 anchor investors, raising Rs 1,176 crore ahead of its IPO.
Issue Details
Issue opens: May 15
Issue closes: May 17
Issue price: Rs 258–272 per share.
Fresh issue: Rs 1,125 crore.
Offer for sale: Rs 1,489.6 crore.
Total issue size: Rs 2,614.6 crore.
Bid Lot: 55 shares.
Listing: BSE and NSE.
Tap on the link to check the details regarding the Go Digit IPO Allotment.
Subscription Status: Day 2
The IPO has been subscribed 0.79 times, or 79%, as of 5 p.m. on Thursday.
Institutional investors: 0.24
Non-institutional investors: 0.73 times or 73%
Retail investors: 2.54 times
