Anushka Sharma and Virat Kohli (File picture)
Go Digit General Insurance, a agency backed by Canada-based Fairfax Group, has acquired Sebi’s goahead to lift funds by way of an preliminary public providing
Go Digit General Insurance Ltd, a agency backed by Canada-based Fairfax Group, has acquired Sebi’s go-forward to lift funds by way of an preliminary public providing (IPO), an replace with the regulator confirmed on Monday.
According to an replace with the Sebi, the regulator gave its commentary on March 1.
In Sebi’s parlance, acquiring commentary letter means the regulator’s go- forward to launch the general public difficulty.
The firm had first filed the DRHP with Sebi in August 2022 to lift funds by way of an preliminary share sale. However, it was thwarted primarily because of sure compliance necessities pertaining to the worker inventory appreciation rights scheme.
Sebi returned Go Digit’s draft IPO papers on January 30, 2023 and requested the corporate to refile the paperwork with sure updates.
Following this, the corporate once more filed the preliminary IPO papers with Sebi in April 2023.
Cricketer Virat Kohli and his spouse and actor Anushka Sharma are among the many traders within the agency.
Also Read: JG Chemicals IPO Opens: Check GMP, Price Band & Issue Size Here
Go Digit IPO Issue Size
Go Digit’s proposed IPO contains recent issuance of shares price Rs 1,250 crore and an Offer For Sale (OFS) of 10.94 crore shares by promoter Go Digit Infoworks Services and current shareholders, in response to the draft crimson herring prospectus (DRHP).
Go Digit IPO Objective
Proceeds from the recent issuance can be utilised for the augmentation of the corporate’s capital base and upkeep of solvency ranges and for normal company functions.
About Go Digit
Go Digit provides motor insurance coverage, medical insurance, journey insurance coverage, property insurance coverage, marine insurance coverage, legal responsibility insurance coverage, and different insurance coverage merchandise, to satisfy the wants of shoppers.
It is among the first non-life insurers in India to be absolutely operated on the cloud and has developed software programming interface (API) integrations with a number of channel companions.
(With PTI inputs)
