Go Digit General Insurance Ltd

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Digit 2-wheeler insurance or Go Digit bike insurance for bike

Performance & Revenue

Go Digit General Insurance is one of the fastest-growing private insurance companies in terms of Gross Written Premiums (GWP). The company’s total GWP kept climbing over the fiscal years of 2020, 2021, and 2022.

Financial Year

GWP (in Rs. billion)

Revenue (in Rs. billion)

2020

22.52

14.19

2021

32.43

22.51

2022

52.68

38.40

The company’s revenue has more than doubled over two years, and its strong position in terms of capital makes it a reliable name among investors. If you are a retail investor seeking long-term investments with substantial profits, you can consider investing in Go Digit General Insurance Ltd.

Go Digit General Insurance IPO

Amidst the buzz of IPO; the company solidified the rumours by filing a draft red herring prospectus (DRHP) with SEBI in August 2022. The fundraising details through the initial public offering involved issuing Rs. 12.50 billion of equity shares and 109,445,561 equity shares held by promoters or privately owned and offered for sale. However, SEBI returned the company’s draft papers in January 2023 under section 5(2) of the issue of capital and disclosure requirement regulation. Go Digit is preparing to revisit the IPO, but the issue size is unclear.

Go Digit General Insurance Ltd. Share Price

Particulars (in lakhs)

2017

2018

2019

2020

Gross Earned Premium

Nil

10405

120498

225235

Net Earned Premium

Nil

746

49998

124135

PAT

-6.23

-7013

-27064

-17525

Net-Worth

278

27365

47800

112234

No. of Shares

90

3500

6745.562

8168.431

It has already been many months since Go Digit General Insurance filed its request for IPO with SEBI. Therefore, investors eagerly await the equity shares and their prices. Moreover, as the stocks become listed on stock indices like BSE and NSE, the different trading platforms will start offering the shares. The IPO, however, was rejected by SEBI, and the company is preparing to apply again. Therefore, we can expect the Fairfax Group-backed Go Digit General Insurance to disclose the issuance size and total shares available for sale.

Upcoming Development in Go Digit General Insurance Limited

Recently, in June 2023, the Insurance Regulatory and Development Authority of India (IRDAI) granted a life insurance business licence to Go Digit. It increased the number of insurers in the segment to 26. This latest addition comes after SEBI returned the IPO filed by Go Digit. So, the company has proposed a fresh IPO by issuing equity shares ₹1,250 crore and 10.94 crore equity shares via Offer For Sale (OFS) under the promoters, Go Digit Infoworks Services and other existing shareholders. Go Digit General Insurance Limited has top investors such as the cricketer Virat Kohli and his wife, actress Anushka Sharma.

Why Buy Go Digit General Insurance Limited Shares?

Go Digit has been the fastest-growing full-stack insurance company with comprehensive products and services. For the FY 2022, 2021, and 2020, it gains Gross written premiums of ₹52.68 billion, ₹32.43 billion, and ₹22.52 billion. So, investors will benefit by investing with the grown potential of its strong capital.

There are certain risks and uncertainties for the insurance sector due to regulatory intervention, and the overall performance of Go Digit showcases transformation through digital solutions.

How to Purchase Go Digit General Insurance Ltd. Shares?

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