Virat Kohli, Anushka Sharma-backed Go Digit gets Sebi nod to launch IPO: Details - Hindustan Times
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Virat Kohli, Anushka Sharma-backed Go Digit gets Sebi nod to launch IPO: Details

Mar 05, 2024 08:57 AM IST

Go Digit IPO: Go Digit's IPO hit many hurdles over compliance issues resulting in a delayed approval for the public offer.

Market regulator Sebi approved initial public offering (IPO) of Go Digit, which is backed by cricketer Virat Kohli and his wife Anushka Sharma. Go Digit's IPO hit many hurdles over compliance issues resulting in a delayed approval for the public offer. 

Go Digit IPO: Virat Kohli and Anushka Sharma are seen.
Go Digit IPO: Virat Kohli and Anushka Sharma are seen.

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Sebi returned the draft offer document two times as it raised concerns over share issuance, it was reported. The company had refiled its IPO papers with Sebi in March last year. These have now been approved by the regulator. 

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Go Digit IPO: Details about the company

Go Digit operates in the general insurance sector. Its backers include Canadian billionaire Prem Watsa's Fairfax Group and A91 Partner.  

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Go Digit IPO: What we know so far

The IPO comprises a fresh issue of shares worth 1,250 crore ($152.1 million) and an offer for sale of 109.4 million shares. The company plans to use net proceeds from the IPO for augmenting its capital br and maintaining the solvency levels, draft papers showed. 

Go Digit IPO: Company performance

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Go Digit incurred an underwriting loss of 1,917 crore and earned an investment income of 746 crore between 2018 and 2022. Durimng this period, net operating loss stood at 1,171 crore.

Go Digit IPO: Book running lead managers

ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank and IIFL Securities are book-running lead managers for the IPO.

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