Go Digit IPO Allotment Today: Check Latest GMP & Status
Following allotment, shares will be credited to successful bidders' demat accounts by 22 May, while refunds for rejected bids will also be initiated the same day
Investors eagerly anticipate the allotment results of Go Digit General Insurance's IPO, which saw robust demand during its subscription phase. The bidding phase concluded on 17 May and now, attention turns to the allotment process, slated for finalisation today, 21 May.
Following allotment, shares will be credited to successful bidders' demat accounts by 22 May, while refunds for rejected bids will also be initiated the same day. The IPO listing date is set for 23 May, with shares to be traded on both BSE and NSE.
Investors can conveniently check the IPO allotment status online once the basis of allotment is determined, through the BSE website or the official portal of IPO registrar, Link Intime India.
Notably, the grey market premium (GMP) for Go Digit IPO today stands at Rs 26 per share, reflecting a market sentiment favoring the stock. This premium suggests an anticipated listing price of Rs 298 per share, marking a 9.56 per cent premium over the issue price of Rs 272 per share.
During the subscription period, Go Digit IPO garnered significant interest across investor categories, with an overall subscription rate of 9.60 times. This was evidenced by bids for 50.76 crore equity shares against the 5.28 crore shares on offer.
Specifically, the retail category subscribed 4.27 times, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) showed strong interest, subscribing 12.56 times and 7.24 times, respectively.
The IPO, with a price band of Rs 258 to Rs 272 per share, comprises a fresh issue of 4.14 crore equity shares amounting to Rs 1,125 crore, alongside an offer for sale (OFS) component of 5.48 crore shares totaling Rs 1,489.65 crore.
Leading the book running lead managers are ICICI Securities, Morgan Stanley India Company, Axis Capital, HDFC Bank, IIFL Securities and Nuvama Wealth Management, with Link Intime India serving as the IPO registrar.
Go Digit, a prominent digital full stack non-life insurance provider, boasts notable investments, including Indian cricket icon Virat Kohli's purchase of 2.67 lakh shares worth Rs 2 crore in 2020 and his spouse, actress Anushka Sharma's Rs 50 lakh investment in a private placement.
