Go Digit General Insurance raised $141 million from anchor investors ahead of its May 2024 initial public offering, according to TechCrunch. Business Standard reported the allocation in Indian rupees as ₹1,176.59 crore: 43,257,009 shares priced at ₹272 each. The IPO’s public subscription window was scheduled for May 15–17, 2024, so this is a retrospective account, not a current offer.
How much did Go Digit raise from anchor investors?
TechCrunch reported the anchor investment as $141 million. Business Standard reported the same allocation as ₹1,176.59 crore, through 43,257,009 shares allotted at ₹272 apiece. These are different-currency descriptions of the reported anchor allocation, not separate raises. TechCrunch; Business Standard.
An anchor allocation is made to institutional investors ahead of the public subscription period. It should not be confused with the full IPO offer: the figures above refer specifically to the shares allotted to anchor investors.
Who received shares in the anchor allocation?
TechCrunch, citing the company’s exchange filing, named Fidelity, Goldman Sachs, Morgan Stanley, Abu Dhabi Investment Authority, Bay Pond, Mirae Asset Management, Steadview Capital, and HSBC among the institutional backers. It also named Indian mutual funds operated by SBI, ICICI, Axis, Tata, and Edelweiss. The report’s list is not necessarily exhaustive. TechCrunch.
#1 Best Overall
Business Standard reported that 11 domestic mutual funds received 14,496,570 shares through 23 schemes. Their allocation was about ₹394.31 crore, or 33.51% of the total anchor book, according to the publication. Business Standard.
When did the IPO open to the public?
The public subscription window was scheduled to run from May 15 through May 17, 2024, immediately after the anchor allocation. Digit’s investor-relations page identifies a prospectus dated May 17, 2024, filed with the Registrar of Companies and subsequently with SEBI, BSE, and NSE. The page states that its offering materials are intended for residents of India and are not for distribution in the United States. Business Standard; Digit investor relations.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What did Go Digit do?
Go Digit General Insurance Limited is now described on its investor-relations page as a publicly listed general insurer in India. Its listed product lines include motor, health, travel, property, marine, liability, and other insurance. Digit investor relations.
Figures cited around the IPO provide historical scale, not a current customer tally: TechCrunch reported that the company had about 43 million customers and issued 8 million policies in the nine months ending December 2023, citing the IPO prospectus. TechCrunch.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsQuick Recap
Rank #3
- Used Book in Good Condition
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
