Go Digit IPO allotment expected tomorrow: Check latest GMP, listing date, other key details

Go Digit IPO allotment date: The shares for the Go Digit General Insurance IPO will be allotted on Tuesday, May 21. In light of the Mumbai elections, the BSE and NSE stock exchanges are closed today, Monday, May 20. The refund procedure will start on Wednesday, May 22, for those who were not given shares. The shares will be deposited into the demat accounts of the allottees on Wednesday. Go Digit IPO listing date has been fixed for Thursday, May 23.

The subscription status for the Go Digit IPO was 9.60 times on the final day of the bidding process.

Also Read: Go Digit IPO: Focus shifts to allotment date. Latest GMP, 6 steps to check status

Ahead of the Go Digit IPO allotment date, let take a look at the Go Digit IPO GMP trend. 

Analysts at investorgain.com claim that the current GMP ( ₹22.50) is indicating a downward trend based on activity in the grey market during the previous 12 sessions. Rs. 11 is the lowest GMP and Rs. 70 is the highest.

Go Digit IPO GMP today is +22.50. This indicates Go Digit share price were trading at a premium of ₹22.50 in the grey market, according to investorgain.com.

It is projected that Go Digit's shares would list at a price of ₹294.5 per share, 8.27% higher than the IPO price of ₹272, once the upper end of the IPO pricing range and the current premium on the grey market are taken into account.

A "grey market premium" denotes the willingness of investors to part with more money than the issue price.

Also Read: Go Digit IPO last bidding date today: Should you subscribe or not? Check GMP, subscription status, other details

If you submitted an application for the Go Digit IPO, you may check the status of your allotment on the IPO registrar's website, Link Intime India Private Ltd. The status of your application's Go Digit General Insurance IPO allocation may be found below:

How to check Go Digit General Insurance IPO allotment status on Registrar site?

Step 1

Visit Link Intime India Private Ltd., the website of the IPO registrar. https://linkintime.co.in/initial_offer/public-issues.html

Step 2

From the dropbox, select the initial public offering (IPO). Only once the allocation is finished will the name be assigned.

Step 3

Click on PAN, Demat Account, or Application No. to check the status.

Step 4

Select ASBA or non-ASBA in the application type field.

Step 5

Add the details for the mode you selected in Step 2.

Step 6

Once the captcha has been completed, click submit.

Also Read: Go Digit IPO fully booked on the last day of bidding: Check subscription updates, GMP, other details

Go Digit IPO subscription status

The initial public offer of Go Digit General Insurance, was subscribed 9.60 times on day three of bidding.

The retail individual investors (RIIs) portion was subscribed 4.27 times, while the quota for non-institutional investors received 7.24 times subscription. Qualified institutional buyers (QIBs) part fetched 12.56 times subscription.

The initial share sale received bids for 50,76,21,455 shares against 5,28,69,677 shares on offer, as per BSE data.

The Go Digit General Insurance IPO, which opened for subscription on Wednesday, May 15, ended on Friday, May 17. The Go Digit IPO was subscribed 79% on the second day of bidding on Thursday, as per BSE data. On the first day of bidding, Go Digit General Insurance IPO subscription status was 36%, as per BSE data.

About 75% of the issue size has been reserved for qualified institutional investors, 15% for non-institutional investors and the remaining 10% for retail investors.

Also Read: Go Digit IPO: Issue booked 79% on day 2, retail investors steal the show; check latest GMP

Go Digit IPO details

The Go Digit General Insurance IPO consists of an offer-for-sale (OFS) of 54,766,392 equity shares by the promoters and other selling shareholders, together with a fresh issue of ₹1,125 crore.

Go Digit Infoworks Services Private Ltd, the promoter selling shareholder, plans to offload up to 54,755,614 equity shares. Other selling shareholders, Nikita Mihir Vakharia and Mihir Atul Vakharia together, plan to sell up to 4,000 equity shares, and Nikunj Hirendra Shah and Sohag Hirendra Shah together, up to 3,778 equity shares. Additionally, Subramaniam Vasudevan and Shanti Subramaniam intend to sell a maximum of 3,000 equity shares.

The net proceeds will be used by the firm to fund the initiatives that are recommended to be supported by the net profits in addition to the company's ongoing business activities. The company also expects benefits from listing the equity shares on stock markets, as it thinks this will enhance its reputation and brand awareness among both present and potential customers.

The book running lead managers for the Go Digit IPO are ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Ltd, Hdfc Bank Limited, and Iifl Securities Ltd. Link Intime India Private Ltd. is the issue registrar.

The company's 2.67 lakh shares was bought by cricket player Virat Kohli for ₹2 crore in 2020, while his wife, actress Anushka Sharma, invested 50 lakh in a private placement.

The company is one of the top digital full stack non-life insurance providers, according to the Red Herring Prospectus (RHP). They use technology to drive what they see as an inventive approach to non-life insurance product design, distribution, and customer experience.

Also Read: Go Digit IPO day 2: GMP, subscription status, price to review. Should you apply to this Virushka-backed IPO?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.