Go Digit, an insurtech company, has acquired a 0.32% stake in Dr. Reddy’s Laboratories, a major pharmaceutical company, for Rs 30 crore.
“The investment in shares is being made in the ordinary course of the investment function of the company,” Go Digit said in an exchange filing.
Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in India that was founded in 1984 by Kallam Anji Reddy. It produces and distributes reasonably priced medications. It offers a range of goods and services, such as generics, biosimilars, active pharmaceutical ingredients (APIs), customized pharmaceutical services (CPS), and unique formulations.
Go Digit, a full-stack digital insurance company founded in 2017 by Kamesh Goyal, provides a variety of non-life insurance policies in a number of industries, including property, health, travel, and auto.
In Q3 FY25, Go Digit’s profit after tax (PAT) increased 176.46% year over year (YoY) to Rs 118.52 crore, propelled by consistent revenue growth and a restrained increase in operating costs.
Go Digit had Rs 18,939 crore in assets under management as of December 31, 2024.
Other well-known competitors of Go Digit include Tata AIG, Acko, ICICI Lombard, and Bajaj Allianz.
