Private Equity

Liquidity Events

Go Digit Insurance's Rs.2,615-Cr IPO oversubscribed 9.6x

Business Line  

Go Digit General Insurance's initial public offer (IPO) was subscribed 9.6 times. The offer received bids for 50.76 crore shares against 5.28 crore shares. The portion for qualified institutional buyers (QIBs) was booked 12.56 times their portion, while the retail category was booked 4.27 times. Non-institutional investors bought 7.24 times their allotted quota.The INR 2,614.65-crore IPO is a mix of a fresh issue of 4.14 crore shares worth INR 1,125 crore and an offer for sale of 5.48 crore shares worth INR 1,489.65 crore. Go Digit Infoworks Services Pvt Ltd, the promoter selling shareholder, will offload 5,475 crore shares.Other selling shareholders include Nikita Mihir Vakharia, Mihir Atul Vakharia , Nikunj Hirendra Shah, Sohag Hirendra Shah, Subramaniam Vasudevan and Shanti Subramaniam.

Between Feb-17 and Apr-23, Digithad raised over USD 667 M from Fairfax Holdings, TVS Capital, Faering Capital, A91 Partners, , Peak XV Partners, IIFL AMC, Wellington Management, HDFC Bank, Axis Bank and Others