Virat Kohli-backed Go Digit debuts at 5% premium over IPO price
Virat Kohli-backed Go Digit listed at ₹286- a premium of 5.14 per cent over the issue price of ₹272 in line with grey market estimates.
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 per cent over the issue price of ₹272 in line with grey market estimates where shares were trading at a premium of 3 per cent. 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).
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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.
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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.
