The IPO of Go Digit General Insurance, a promising insurance tech startup, is set to open for investors on May 15, 2024. Let’s delve into the key details and considerations for potential investors.
Price Band and Investment Details
Price Band: The IPO price band is set between Rs 258 to Rs 272 per share. The company aims to raise Rs 2,615.65 crore, with Rs 1,125 crore through fresh shares and Rs 1,489.65 crore through offer for sale.
Lot Size and Investment Range: Investors can buy shares in lots of 55, allowing retail investors to invest a minimum of Rs 14,960 and a maximum of Rs 1,94,480 in this IPO.
IPO Timeline and Listing
Investment Period: Retail investors can invest in the IPO from May 15 to May 17, 2024.
Allotment and Refund: Allotment of shares will occur on May 21, with refunds for unsuccessful investors processed on May 22. Shares will be credited to demat accounts on May 22.
Listing Date: Shares are set to be listed on May 23, 2024.
Allocation Breakdown: The IPO reserves 75% for qualified institutional buyers, 10% for retail investors, and 15% for high net individuals.
Potential Returns for Virat Kohli and Anushka Sharma
According to Go Digit’s DRHP, Virat Kohli and Anushka Sharma have made significant investments in the company, with Kohli buying 2,66,667 shares and Sharma purchasing 66,667 shares at Rs 75 per share.
With the IPO price band, they stand to potentially receive returns of Rs 9.50 crore against their combined investment of Rs 2.50 crore, indicating a potential return of 271%.
Grey Market Premium (GMP) Analysis
Current GMP Status: According to investorgain.com, the Grey Market Premium (GMP) stands at Rs 44, representing a premium of 16.18%. If this trend persists until listing day, shares could potentially be listed at Rs 316.
