Go Digit General Insurance has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer-for-sale (OFS) of 10,94,45,561 equity shares by a promoter and existing shareholders. The company, which refiled the draft red herring prospectus with the SEBI in April 2023, got the regulator’s approval on March 1, 2024.
Proceeds from the fresh issuance have been proposed to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes. ICICI Securities, Morgan Stanley India Company, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities are the book-running lead managers for the issue. The equity shares of the company will be listed on BSE and NSE.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products, to meet the needs of the customers.
Company Name | CMP |
---|---|
ICICI Prudential | 591.20 |
Star Health and Allied | 555.00 |
Life Insurance Corp | 974.45 |
HDFC Life Insurance | 570.35 |
New India Assurance | 235.95 |
View more.. |