According to Go Digit General Insurance, its IPO is scheduled to begin on May 15 and end on May 17. A fresh issue of shares valued at Rs 1,125 crore and an offer for sale (OFS) of 54,766,392 shares are included in the company’s red herring prospectus (RHP) issue.
The company has lowered the size of its IPO, which is noteworthy. A fresh issue of Rs 1,250 crore and an OFS component consisting of 10.94 crore equity shares were part of the previous IPO.
According to RHP, cricketer Virat Kohli and actress Anushka Sharma will not take part in the OFS, and the company’s promoters and current shareholders will sell their holdings.2020 saw Sharma invest Rs 50 lakh through a private placement and Kohli purchase 266,667 shares of the company for Rs 2 crore.
The lead managers for the IPO’s book-running are ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities.
This happens not long after the Insurance Regulatory and Development Authority of India (IRDAI) fined Rs 1 crore for filing joint venture agreement details with excessive delay. On the same issue, the IRDAI issued several advisories and a show-cause notice to the firm in November.
Digit got the go-ahead from SEBI in March to raise capital through an initial public offering (IPO). After submitting a DRHP in July 2022, Digit also had to resubmit its draft IPO documents in April of last year.
In addition to Digit, travel technology startup TBO is prepared for bourse listing. Awfis also obtained SEBI approval for an IPO last month. The market regulator has not yet granted approval to FirstCry, Ola Electric, Unicommerce, or MobiKwik.
