Go Digit IPO listing price at five per cent premium

Shares of Go Digit General Insurance Ltd, backed by Canada-based holding company, Fairfax, and Cricketer Virat Kohli and actor Anushka Sharma got listed on Thursday with a premium of over five per cent against the issue price of Rs 272. The stock began the trade at Rs 281.10, up 3.34 per cent from the issue price on the Bombay Stock Exchange (BSE.) It later climbed 11.39 per cent to Rs 303. At the National Stock Exchange (NSE), it listed at Rs 286, reflecting a jump of 5.14 per cent. The company’s market valuation stood at Rs 26,869.44 crore.

What do experts say?

Here’s what experts advised investors whether to hold stocks post IPO or not.

According to a report by The Economic Times, Go Digit’s moderate listing necessitates a balanced approach from investors. While the company possesses strong long-term potential, careful consideration of the valuation and competitive landscape is crucial. Investors may hold their position by keeping a stoploss at the issue price,” said Shivani Nyati, Head of Wealth, Swastika Investmart.

Kohli didn’t sell his holdings in the IPO

The Go Digit IPO received 9.6 times subscription on the closing day on Friday, May 17, 2024. The     Rs 2,615-crore initial share sale had a price band of Rs 258-272 per share. Kohli and his wife Anushka Sharma are among the investors in the firm. They did not sell any stake in the IPO. This signifies the couple expects to earn more by remaining invested in the insurance company in the long term.

What does the company do?

Go Digit General Insurance Ltd offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products to meet the needs of the customers. It is one of the first non-life insurers in India to be fully-operated on cloud and has developed application programming interface (API) integrations with several channel partners.

(With inputs from PTI)