Go Digit General Insurance IPO: A Bangalore-based Insurance company estimates INR 1250 crores Accounting for 10,94,45,561 equity shares. Lot Size, Price Range, and Bidding Dates are yet to be announced.
|Bidding Dates||To be announced|
|Lot Size||To be announced|
|Issue Size||To be announced|
|Price Range||To be announced|
|Min Investment||To be announced|
|IPO Document||Download Here|
Go Digit General Insurance: Digital Full Stack Insurer
Go Digit General Insurance company is a digital full-stack insurance player in India and they solely concentrate on the (General) non-life insurance policies related to vehicles, properties, etc.
The company runs digital and has a wide spread of operations across India due to its strong distribution networks. The insurance operations are controlled by the deployment of Artificial Intelligence, and machine learning tools.
These technologies benefit the customers (policyholders) in multiple ways and the important features are described in the pros section as mentioned below.
It has risen to good heights as the market mentions them to be the best Gross Written Premium, GWP risk carrier solution providers on insurance products.
The company plans to go for IPO in 2023 to pool funds to meet the incurring expenses and develop stronger operating models.
Technological Strengths of Go Digit Insurance
- The developers installed a modular product architecture that supports application program interfaces, applications, and the website. Thus the technology helps the user to design company products more effectively. Simultaneously, the customers, partners, and service providers can access the products and services in a convenient manner.
- The company has hired the most advanced cloud technology that developed Application Programming Interface (API), integrating their channel partners across the nation.
- As on March 31, 2022, the Go Digit General Insurance has distribution channels spread across 36 States, and all Union Territories of India.
- The channel partners have access to 1,063 API integrations that established a relationship with 32,613 key distribution partners. In addition, the company runs businesses with individual agents, corporate agents, brokers, and other related ones.
Interesting Facts on Go Digit General Insurance
- Link Intime India Private Limited shall be the registrar for Go Digit General Insurance Limited and the current information states that the IPO shall be listed on the Bombay Stock Exchange and National Stock Exchange.
- In the process, Go Digit General Insurance Limited plans for a fresh issue of equity shares. The company will go for an IPO for an equity share value of INR 10.00 each aggregating to a fund value of INR 1250 crores and through the fresh issue it wants a sale of up to 10,94,45,561 equity shares.
- Go Digit General Insurance Limited shall invite a pre-apply policy in which you are advised to submit the IPO application 2 days prior to the release date of the subscription period. Once the bidding in the stock exchange begins, your order shall be put forth and within 24 hours after the bidding is opened, you shall be delivered a UPI request.
- Note: You are advised to wait for the Go Digit Insurance IPO details, issue date, price, lot size, and other relevant information that is yet to release.
Go Digit Market Position
Go Digit lends carrier risk management services and has captured about 82.9 percent of the Gross Written Premium amounting to ₹ 52.68 billion in fiscal 2022, thus becoming a larger digital full-stack insurance player in India.
In fact, it is one of the top 10 digital full-stack insurance service providers that has wooed the GWPs markets.
Go Digit: Past Financial Performances
The company’s revenue, total assets, and profit when accounted for the previous three years: 2020, 2021, and 2022 are as follows.
|Year||Total Assets (In Cr.)||Revenue (In Cr.)||Profit (In Cr.)|
Object Of The Go Digit IPO Issue
Go digit plans to utilize the gross proceeds to meet the expenses in the growth as digital full-stack insurance.
- You can take advantage of the digital platform groomed by artificial intelligence and machine learning technologies. It means, the Go Digit provides transparent, paperless processes, and adopts customized services for you. The company adopts technology that renders high-quality customer experience, easy documentation and provides efficient functioning.
- Underwriter plays a vital role in insurance products and the company has defined underwriting procedures precisely that shall never play a cumbersome role on you.
- The company has a vast network of distribution partners, and you can reach them over multiple technological platforms.
- They do render single-stop shop product services and are providing clear-cut insights by deploying AI and machine learning management.
- The company hires highly skilled professionals to manage the tasks most effectively.
- It sets drawbacks in underwriting activities and the company can fall prey to evaluate the risks accurately. The underwriter must fix premiums at a competitive pace with the counterparts and equally meet the premium profitability.
- A reserve fund is maintained to balance the future claims liabilities and when improperly calculated can lead to a further increase in reserves.
- Customers can approach claims due to loss incurred by catastrophic events, such as natural disasters, accidents, etc leading to a loss in the investment portfolio.
- The company has inadequate experience in business operations and hence can be viable to make mistakes in evaluating the business projections to the future.
- Need to maintain a well-balanced relationship with distribution partners while terminating the contracts. If so, it becomes more difficult in retaining or attracting newer distributors with even higher incentives.
How to Apply for Go Digit IPO
It will be easy for an applicant to apply for the Go Digit Insurance IPO through any of the leading apps like Zerodha, Uptsox, Groww, etc.
You can make the share-slot payments through Universal Payment Interface, UPI over the Net banking, or BHIM apps.
Applying over Websites / Apps ( Zerodha, Groww, UPStox)
- Enter into any of the above-mentioned websites/apps and on the home page, go to the portfolio button and click the IPO.
- You will be able to identify the company’s IPO on display: Go Digit General Insurance IPO, you must click the bid button.
- Then, make an entry of the UPI ID, quantity, and price and after submitting the application form, reach the payment gateway.
- You must utilize the services of the UPI app on Net Banking or attempt to make a payment through the BHIM app.