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Go Digit IPO Allotment Status: How to Check and Today’s GMP Update

In Go Digit's IPO, the company issued shares worth Rs 1,125 crore and offered 5.47 crore equity shares for sale by its promoter and existing shareholders.

By Newsd
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Go Digit IPO Allotment Status
Go Digit IPO Allotment Status

Go Digit IPO Allotment Status: During its initial public offering, Go Digit General Insurance, backed by Indian cricketer Virat Kohli and his wife, received 9.6 times subscriptions.

Registrar Link Intime’s portal and BSE and NSE websites can be used to check IPO status once investors are allotted the IPO on May 21.

Public subscriptions for the Rs 2,614.65-crore IPO were open from May 15 to May 17.

How To Check Allotment Status For Go Digit IPO

Go Digit’s IPO allotment is expected to be finalized on May 21, and its listing will occur on May 23 on both the BSE and NSE.

After the IPO allotment has been finalized, you can check the status by following these steps:

  • Visit the official BSE website at https://www.bseindia.com/investors/appli_check.aspx.
  • Select ‘Equity’ under ‘Issue Type’.
  • Under ‘Issue Name’, select ‘Go Digit General Insurance Ltd’.
  • Enter your application number or Permanent Account Number (PAN).
  • Click ‘I am not a robot’ to verify yourself, and then click ‘Search’.
  • On your screen, you will see the status of your share application.

Check Go Digit IPO allotment status by visiting Link Intime portal – linkintime.co.in/mipo/ipoallotment.html.

Today is the day to go Digit IPO GMP

Grey market shares of Go Digit Insurance Ltd are trading Rs 25.50 higher than their issue price, according to market observers.

According to the Rs 25.50 grey market premium, the grey market is expecting a 9.38 per cent listing gain from the public offering.

The grey market premium indicates investors’ willingness to pay more than the issue price.

Go Digit’s IPO price was fixed at Rs 258-272 per share.

The minimum investment by retail investors was Rs 14,190 (55 (lot size) x Rs 258 (lower price band). At the upper end, the bidding amount was Rs 14,960.

Details about Go Digit’s IPO

In Go Digit’s IPO, the company issued shares worth Rs 1,125 crore and offered 5.47 crore equity shares for sale by its promoter and existing shareholders.

At the upper end of the price band, this brings the total IPO size to Rs 2,615 crore.

Currently, Go Digit Infoworks Services owns 83.3% of the company. Proceeds from the fresh issuance will be used to augment the company’s capital base, maintain solvency levels, and for general corporate purposes.

In the IPO, cricketer Virat Kohli and his wife and actress Anushka Sharma are not selling any shares.

A total of 75 percent of the issue size has been reserved for qualified institutional investors, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.

A minimum of 55 equity shares can be bid on by investors, and multiples of 55 equity shares can be bid on thereafter.

To meet the needs of its clients, Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, and liability insurance.

An application programming interface (API) integration with several channel partners has made it one of the first non-life insurers in India to fully operate on the cloud.

To raise funds through an IPO, Go Digit filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in August 2022.

It was thwarted primarily by employee stock appreciation rights compliance requirements.

In April 2023, Go Digit filed preliminary IPO papers with Sebi again after Sebi returned its draft IPO papers on January 30, 2023.

Go Digit’s IPO is being managed by ICICI Securities, Morgan Stanley India Company, Axis Capital, HDFC Bank, Nuvama Wealth Management, and IIFL Securities.

Also Read: Winsol Engineers IPO Set to Open on May 6: Check Price, GMP, Quota, Lot Size

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