Virat Kohli's Investment
Go Digit Insurance IPO opens today and closes on May 17. The IPO includes a fresh equity issue of Rs 1,125 crore and an offer for sale of up to 5.47 crore shares. Virat Kohli and Anushka Sharma will retain their investments.
The initial public offer (IPO) of Virat Kohli-backed Go Digit Insurance opens for subscription today. The issue, which closes on May 17, comprises a fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to 5.47 crore shares.
Under the OFS, promoter Go Digit Infoworks and other existing shareholders will offload stakes while Virat Kohli and Anushka Sharma will remain investors.The initial public offer (IPO) of Virat Kohli-backed Go Digit Insurance opens for subscription today. The issue, which closes on May 17, comprises a fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to 5.47 crore shares.
Under the OFS, promoter Go Digit Infoworks and other existing shareholders will offload stakes while Virat Kohli and Anushka Sharma will remain investors.The initial public offer (IPO) of Virat Kohli-backed Go Digit Insurance opens for subscription today. The issue, which closes on May 17, comprises a fresh equity issue of Rs 1,125 crore and an offer for sale (OFS) of up to 5.47 crore shares.
Under the OFS, promoter Go Digit Infoworks and other existing shareholders will offload stakes while Virat Kohli and Anushka Sharma will remain investors.
The company is one of the top digital full stack non-life insurance providers, according to the Red Herring Prospectus (RHP). They use technology to drive what they see as an inventive approach to non-life insurance product design, distribution, and customer experience.
The company's promoters include FAL Corporation, Oben Ventures LLP, GoDigit Infoworks Services Private Limited, and Kamesh Goyal.
Virat Kohli has some preemptive rights as well as a tag along right, as mentioned in the RHP. In addition, if Virat Kohli decides to sell some or all of his interests in thecompany to a third party other than Kamesh Goyal or Go Digit Infoworks Services Private Limited, Go Digit Infoworks Services Private Limited has the right of first offer.
As per news reports, in August 2022, the company submitted a draft red herring prospectus (DRHP) to SEBI in an attempt to raise funds through an initial public offering. But the main reason it did not succeed was because of some compliance requirements related to the system for employee stock appreciation rights. On January 30, 2023, SEBI returned Go Digit's draft IPO paperwork and requested that the company refile them with the necessary revisions. After then, in April 2023, the business once more submitted its preliminary IPO paperwork to SEBI.
Between March 31, 2022, and March 31, 2023, Go Digit General Insurance Limited's profit after tax (PAT) climbed by 112.01% and its revenue increased by 113.35%.
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