Go Digit Insurance IPO

Go Digit General Insurance Ltd

₹14,190 /55 sharesMinimum Investment

Go Digit Insurance IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
15 May ‘24 - 17 May ‘24₹14,19055₹258 - ₹272
Issue SizeIPO Doc
2614.65Cr
RHP PDF

Subscription rate

As of 17 May'24, 05:00 PM
Qualified Institutional Buyers12.56x
Non-Institutional Investor7.17x
Retail Individual Investor4.11x
Total9.56x

About Go Digit Insurance

Go Digit General Insurance Limited is a digital full stack insurance company. (Full-Stack insurers are insurance companies that are fully licensed and controlled by a regulatory authority and perform sourcing, underwriting and servicing all in-house). The company leverages technology to provide a range of non-life insurance products such as motor insurance, health insurance, travel insurance, property insurance, marine insurance, and liability insurance. Customers have the flexibility to customize these offerings to suit their individual needs. The company offers 74 active products across all its business lines directly to customers through its website and through web aggregators. As of December 31, 2023, the company had presence in 24 of the 36 states and Union Territories in India, and relationships with about 61,972 Key Distribution Partners, including about 58,532 Point of Sales Persons (POSPs), individual agents, corporate agents, brokers and others.;
Founded in
2016
Managing director
Ms. Jasleen Kohli
Parent organisation
Go Digit General Insurance Ltd

Strengths & Financials of Go Digit Insurance

Strengths
Risks
The company distributes its products through a diverse partnership-based model, spanning various channels. As of December 31, 2023, it had partnerships with approximately 61,972 key distribution partners, including 58,532 POSPs, individual agents, corporate agents, and brokers. They also sell directly to customers via their website and web aggregators, enabling them to connect with customers during significant life events like buying a new car or home.
The company works on simplifying insurance and offers easy-to-understand, customisable products. As per the company, its paperless processes are designed to reduce the hassle of applying for coverage and submitting a claim.
As at December 31, 2023, the company had 43.26 million customers or people who have availed the insurance benefits under various policies issued by the company since the inception of its insurance operations in 2017. Of this, 27.74 million customers pertained to motor insurance products, 14.97 million customers for health insurance products (including personal accident & travel) and 0.55 million customers for other insurance products.
As per the RHP, the company has developed predictive underwriting models that leverage the insights gathered by its data bank. These models help it determine and target the markets and customers that are expected to be more profitable and hence, allows it to accurately price its coverage.
The company's net promoter score was 73.3% for non-claims and 93.1% for motor claims as of December 31, 2023. A high net promoter score reflects improved customer satisfaction.
As of the nine months ending December 31, 2023, the company reported Assets Under Management (AUM) of Rs. 14,909 cr, compared to Rs. 12,668 cr on March 31, 2023.

Go Digit Insurance Financials

*All values are in Rs. Cr
No Graph Data To Display

Application Details of Go Digit Insurance IPO

Apply asPrice bandApply upto
Regular258 - 272₹2 Lakh
High Networth Individual258 - 272₹2 - 5 Lakh
For Go Digit Insurance IPO, eligible investors can apply as Regular.
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