InsurTech unicorn Go Digit General Insurance has launched its Initial Public Offering (IPO) to raise funds for strengthening its solvency ratio and capital reserves.
The move aims to support the company’s growth and expansion plans in the insurance market.
The IPO offering consists of a combination of fresh issuance and a stake sale by the existing shareholders. It includes an offer-for-sale component of up to 54,766,392 equity shares by selling shareholders, along with fresh issuance worth Rs 1,125 crore.
Renowned investors in the firm, including Canada’s Fairfax Group and celebrity couple Virat Kohli and Anushka Sharma, are expected to retain their investment in the company. The IPO will conclude on 17th May, providing these investors with an opportunity to participate in the growth of Go Digit General Insurance.