Business

Virat Kohli and Anushka Sharma-Backed Go Digit Receives SEBI Approval for IPO Launch: Key Details Revealed

The initial public offering (IPO) of Go Digit, supported by cricket player Virat Kohli and his spouse Anushka Sharma, was approved by market regulator Sebi. A number of obstacles related to compliance caused Go Digit’s first public offering to be approved later than expected. According to reports, Sebi twice returned the draft offer document because it had concerns about the issuing of shares. In March of last year, the company filed its IPO documents again with Sebi. The regulator has now given these approval.

Go Digit IPO: Details about the company

Go Digit is a business that deals with general insurance. Fairfax Group, led by Canadian billionaire Prem Watsa, and A91 Partner are among its supporters.

Go Digit IPO: What we know so far

The IPO consists of an offer to sell 109.4 million shares and a new share issue valued at ₹1,250 crore ($152.1 million). Draft filings indicated that the company intends to use the net proceeds from the IPO to maintain solvency levels and increase its capital.

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Go Digit IPO: Company performance

From 2018 to 2022, Go Digit generated ₹746 crore in investment income and suffered an underwriting loss of ₹1,917 crore. Net operating loss for this time period was ₹1,171 crore.

Go Digit IPO: Book running lead managers

The main managers for the IPO’s book-running include ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities.