At INR 305.75, Go Digit shares ended today’s trading session almost 8% higher than its opening price of INR 281 apiece on the BSE
The shares were listed at INR 281 apiece on the BSE, which was a mere 3.3% premium to its issue price and at a 5.1% premium on the NSE at INR 286 per share
Go Digit currently has a market cap of INR 28,043.46 Cr ($3.4 Bn)
Following a muted debut on the bourses, insurance tech unicorn Go Digit ended its first trading session on Thursday (May 23) 12.4% higher than its issue price, at INR 305.75 on the BSE.
The Virat Kohli-backed startup’s shares were listed at INR 281 apiece on the BSE today, which was a mere 3.3% premium to its issue price of INR 272.
The Go Digit stock ended today’s trading session almost 8% higher than its opening price. The company currently has a market cap of INR 28,043.46 Cr ($3.4 Bn).
Meanwhile, on the NSE, the stock ended the day’s trading at INR 306, which was about 7% higher than its opening price and 12.5% higher than the issue price.
Go Digit’s shares were listed at a 5.1% premium on the NSE at INR 286 per share.
The insurance tech giant has become the latest addition to the list of new-age listed tech startups. The bidding for its IPO had started on May 15 and ended on May 17. The IPO received a 9.6X subscription, with qualified institutional buyers (QIBs) showing the maximum interest.
The QIBs’ portion in the IPO was oversubscribed 12.56X, followed by non-institutional investors (NIIs) oversubscribing by 7.25X.
The retail investors’ portion saw 4.27X subscription.
Go Digit’s IPO comprised a fresh issue of shares worth INR 1,125 Cr and an offer for sale (OFS) component of 5.47 Cr equity shares.
Founded in 2017 by Kamesh Goyal, Go Digit offers insurance policies across verticals like health, motor vehicle, travel, property, and more. The startup is backed by marquee investors, including Fairfax and Peak XV, among others.
Comparatively, the recent IPO of B2B travel portal Travel Boutique Online or TBO Tek received a more heightened response with its public issue subscribed 86.7X. The new–age tech platform also got listed at more than a 50% premium on the bourses in mid-May.
On the other hand, the bidding for the IPO of coworking space provider Awfis also opened on Wednesday (May 22). On Day 1, its public issue received over 2X subscription, which increased to 4.3X by the end of Day 2.
