On the last day of bidding for the Go Digit IPO, the total subscription reached 9.60 times the amount available. Retail investors subscribed 4.27 times their portion, institutional investors subscribed 12.56 times, and non-institutional buyers (NII) subscribed 7.24 times.
The startup's IPO aims to raise Rs 2,614.65 and includes a fresh issue of 4.14 crore shares worth Rs 1,125.00 crore and an offer for sale of 5.48 crore shares worth Rs 1,489.65 crore. The price band was set between Rs 258 and Rs 272 per share. Investors had to apply for at least 55 shares, costing Rs 14,960.
All attention will now turn towards the share allotment process of the IPO, so here are the important details investors of the IPO should be aware of.
Go Digit IPO Allotment Date
The allotment for the Go Digit General Insurance IPO is expected to be finalised on Tuesday, May 21.
On this day, investors can check the Go Digit IPO allotment status on the website of Link Intime India Private Ltd., the registrar for the issue, and on the BSE website.
Go Digit IPO Listing Date
The shares of Go Digit General Insurance Limited are set to list on BSE and NSE on Thursday, May 23.
Go Digit IPO Timeline (Tentative Schedule)
IPO Open Date: Wednesday, May 15
IPO Close Date: Friday, May 17
Basis of Allotment: Tuesday, May 21
Initiation of Refunds: Wednesday, May 22
Credit of Shares to Demat: Wednesday, May 22
Listing Date: Thursday, May 23
Investors who received shares will have their demat accounts credited on May 22. The refund procedure will begin on the same day, as soon as the allotment is finalised.
Go Digit IPO Subscription Details
Subscription Day 3:
Total Subscription: 9.60 times.
Institutional investors: 12.56 times
Non-institutional investors: 7.24 times
Retail investors: 4.27 times
Subscription Day 2:
Total Subscription: 0.79 times
Institutional investors: 0.24
Non-institutional investors: 0.73 times or 73%
Retail investors: 2.54 times
Subscription Day 1:
Total Subscription: 0.36 times.
Institutional investors: Zero
Non-institutional investors: 0.34 times or 34%
Retail investors: 1.44 times
The Pune-based company aims to utilise the net proceeds towards the 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.
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