Go Digit IPO: Virat Kohli-backed Go Digit IPO made a muted debut on the stock exchanges today (May 23) as it listed at ₹286- a premium of 5.14 percent over the issue price of ₹272 in line with grey market estimates where shares were trading at a premium of 3 percent. The issue was subscribed 9.6 times receiving bids for 50.76 crore shares against 5.28 crore shares- subscribed 4.27 times in the retail category, 7.24 times by Non-institutional investors, and 2.56 times by qualified institutional buyers (QIBs).
The IPO is a mix of a fresh issue of 4.14 crore shares worth ₹1,125 crore and an offer for sale of 5.48 crore shares worth ₹1,489.65 crore. Through the issue, the company plans to raise funds for supporting its current business operations and fund the proposed activities identified for financing.
The insurance provider- incorporated in December 2016- offers various products such as health, travel, and property insurance. The company has launched a total of 74 active products across all its business lines, it said.
The article originally appeared on Hindustan Times.