Decoding IPO Bound Digit Insurance’s Shareholding Pattern

Decoding IPO Bound Digit Insurance’s Shareholding Pattern


As per the DRHP, founder Kamesh Goyal indirectly owns 45.75% stake in Go Digit General Insurance Ltd

Prem Watsa’s FairFax Asia owns 37.8% stake in the Virat Kohli-backed unicorn insurtech startup

Digit Insurance will issue fresh shares worth INR 1,250 Cr during the IPO

Bengaluru-based insurtech startup Go Digit General Insurance Limited has filed its draft red herring prospectus (DRHP) with markets regulator Securities And Exchange Board of India (SEBI). The startup is planning to raise INR 1,250 Cr through a fresh issuance of shares. 

Besides, the IPO offer will also consist of an offer-for-share component (OFS) in which one of the promoters – Go Digit Infoworks Services Limited – will offload up to 109 Mn equity shares, while few other shareholders will also sell a small number of shares. 

The shares will be listed on the National Stock Exchange (NSE) and the BSE.

As per the shareholding pattern of Go Digit General Insurance, Go Digit Infoworks Services owns around 83.65% stake, or 72,95,65,220 equity shares, of the Virat Kohli-backed unicorn. The other major shareholders in the startup are:

  • TVS Shriram Growth Fund (3.56%)
  • A91 Emerging Fund (3.36%)
  • Faering Capital (3.36%) 
  • Wellington Hadley Harbour AIV Master Investors (1.49%)
  • Sequoia Growth Investments (1.04%)

Decoding Digit's Shareholding Pattern


Meanwhile, Go Digit Infoworks has three shareholders –  founder Goyal owns 14.96% stake in it, Oben Ventures has 39.79% stake, and FAL Corporation owns 45.25% stake in the company. 

Oben Ventures LLP, which was originally incorporated as a private limited company, is also owned by Goyal who owns 99.99% stake in it. The remaining 0.01% stake is owned by Sameer Bakshi. 

As per Inc42’s estimates, Digit Insurance founder Goyal owns about 45.75% stake in the IPO-bound unicorn. Apart from this, Prem Watsa’s FairFax Asia, which was an early investor in Digit Insurance, owns 37.8% stake in the startup through FAL Corp. 

The startup’s net loss widened 141% in the financial year 2021-22 (FY22) to INR 295.8 Cr from  INR 122.7 Cr in FY21. The loss stood at INR 175.2 Cr in FY20.

The operating loss from the insurance business stood at INR 375 Cr in FY22, a 102% jump from INR 185.4 Cr in FY21.

Digit Insurance will join the likes of PolicyBazaar and LIC who are engaged in the insurtech business and are listed on Indian stock exchanges. 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

Unlock 60% OFF
Cancel Anytime
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Decoding IPO Bound Digit Insurance’s Shareholding Pattern-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Decoding IPO Bound Digit Insurance’s Shareholding Pattern-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Decoding IPO Bound Digit Insurance’s Shareholding Pattern-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Decoding IPO Bound Digit Insurance’s Shareholding Pattern-Inc42 Media
Decoding IPO Bound Digit Insurance’s Shareholding Pattern-Inc42 Media
You’re in Good company