Virat & Anushka ’s Investment In IPO-Bound Go Digit Zooms 3.6X

SUMMARY

While Virat Kohli and Anushka Sharma invested a total of INR 2.5 Cr in Digit in 2020, their investment is valued at INR 9 Cr at the upper end of the IPO price band

Kohli and Sharma are not selling their shares via the insurtech unicorn’s public issue

Digit’s IPO will open on Wednesday (May 15) and the startup has set a price band of INR 258-272 per share for the public issue

The value of the combined investment made by celebrity couple Virat Kohli and Anushka Sharma in IPO-bound Go Digit in 2020 has nearly quadrupled.

While the duo are not selling their shares during the public issue of the insurtech unicorn, the combined value of their investment in the startup has surged 262% at the upper end of the IPO price band.

Digit’s IPO will open on Wednesday (May 15) and the startup has set a price band of INR 258-272 per share for the public issue.

Kohli and Sharma invested in Digit in February 2020 and were issued the shares at INR 75 apiece. In total, the two invested a total of 2.5 Cr. While Kohli invested INR 2 Cr, Sharma bought 66,667 shares for INR 50 lakh.

At the upper end of the IPO price band, Kohli and Anushka’s shares are worth INR 7.25 Cr and INR 1.81 Cr, respectively, valuing the combined investment at INR 9.06 Cr.

After multiple delays, Digit’s IPO will open this week. It comprises a fresh issue of shares worth INR 1,250 Cr and an offer for sale (OFS) for 1094.5 Mn shares. The startup is looking to raise over INR 2,600 Cr at the upper end of the price band.

Among the promoters, Go Digit Infoworks Services Private Limited is selling up to 54,755,614 Equity Shares via the OFS.

In March this year, the insurtech unicorn refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its IPO after the market regulator flagged concerns around its employee stock appreciation plans. It previously filed its DRHP in August 2022.

Founded in 2017 by Kamesh Goyal, Go Digit offers insurance policies across verticals like health, motor vehicle, travel, property, and more.

Apart from Virat Kohli and Anushka Sharma, the startup counts other investors like Fairfax and Peak XV.

Earlier this month, the Insurance Regulatory and Development Authority of India (IRDAI) imposed a penalty of INR 1 Cr on Go Digit General Insurance for non-disclosure of a change in the conversion ratio of compulsorily convertible preference shares (CCPS).