Go Digit General Insurance IPO: Shares list at 5.15% premium, stock price gains 12.5% today

Go Digit General Insurance Ltd, a company backed by Canada-based Fairfax Group, made its debut on the BSE and NSE stock exchanges on May 23. The shares listed at a 5.15% premium over the issue price in the pre-open market.

The IPO, which aimed to raise over ₹2,614.65 crore, had a price band of ₹258 to ₹272 per share. The listing price was ₹286, higher than the issue price of ₹272. The IPO was subscribed 9.60 times, indicating strong investor interest in the company. The Grey Market Premium (GMP) for the IPO was ₹8.

Go Digit General Insurance offers a range of insurance products, including motor, health, travel, property, marine, and liability insurance. The company focuses on providing high-quality customer experience, advanced technology platforms, and predictive underwriting models. However, sustaining profitability and meeting regulatory requirements remain key challenges for the company.

On May 23, the share price of Go Digit General Insurance Ltd closed at ₹306.00, with a volume of 54.0M shares. The share price increase Rs. 35, 12.5% today.

The successful listing of Go Digit General Insurance Ltd at a premium over the issue price reflects the market’s reception and investor confidence in the company’s potential.

Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as investment advice. Investing in the stock market involves risks, and investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions. The performance of Go Digit General Insurance Ltd’s IPO and its shares on the stock market may not be indicative of future results. Past performance does not guarantee future outcomes. Investors should carefully consider their investment objectives, risk tolerance, and financial situation before investing in any stock or IPO.