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Digit Insurance eyes $500-M IPO; Morgan Stanley, ICICI Securities bookrunners for the issue

INC42  

Bengaluru-based insurtech startup Digit Insurance is considering raising about USD 500 million through its initial public offering (IPO). The insurtech unicorn, backed by cricketer Virat Kohli and investors such as Sequoia Capital, A91 Partners, Faering Capital and Canada-based Prem Watsa's Fairfax Group, will look at a valuation of USD 4.5-5 Billion in the IPO. Digit has appointed Morgan Stanley and ICICI Securities as bookrunners for the issue.