top of page

Go Digit General Insurance Limited IPO Review

Updated: May 15

Go Digit General Insurance Limited IPO Review

Go Digit General Insurance Limited, a name that has become increasingly prominent in the Indian insurance landscape, was founded with a mission to simplify the insurance process for its customers. Established in 2016, Go Digit began its journey in Bengaluru, Karnataka, with the vision of leveraging technology to make insurance accessible and easy to understand for the average consumer.

The company was incorporated on December 7, 2016, as an unlisted public company in Pune, Maharashtra. Despite its registration in Pune, the foundational roots and operational headquarters of Go Digit can be traced back to Bengaluru, a city known for its vibrant tech industry and innovative startups.

The brainchild behind Go Digit is Kamesh Goyal, who, along with his team, identified a gap in the traditional insurance market – the complexity and cumbersome nature of insurance policies and claims. They aimed to address this by introducing a customer-centric approach that demystified insurance through digital innovation. The promoter family backing this vision includes names like GoDigit Infoworks Services Private Limited, Oben Ventures LLP, and FAL Corporation, which have played a significant role in the company's growth and expansion.

Go Digit's inception was driven by the desire to create a platform that could offer a range of non-life insurance products tailored to the unique needs of individuals. The company's product portfolio includes motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and more. These offerings are designed with the flexibility to be customized, reflecting Go Digit's commitment to providing personalized insurance solutions.

As Go Digit continues to evolve, it remains steadfast in its original mission – to 'Make Insurance Simple.' By focusing on simplification and customer experience, Go Digit General Insurance Limited is redefining the insurance paradigm, one policy at a time.

Competitive Strengths

Go Digit General Insurance Limited has emerged as a formidable player in the Indian insurance landscape, distinguishing itself through a blend of strategic initiatives that cater to the evolving needs of the modern consumer. This analysis delves into the competitive strengths that have propelled Go Digit to the forefront of the digital insurance sector.

Revenue, Sales, and Profit

Go Digit General Insurance Limited has shown a remarkable financial performance in recent years. For the fiscal year ending in 2021, the company reported a gross written premium of ₹3,243 crore, a significant increase from ₹2,252 crore the previous year. The net earned premium was ₹1,944 crore, up from ₹1,241 crore. Despite these strong revenue figures, the company faced a loss after tax of ₹123 crore, which was an improvement over the ₹175 crore loss reported in the prior year. The company's net worth stood at ₹1,158 crore, and it managed assets totaling ₹5,590 crore. Moving forward to the fiscal year 2023, the company's profit surged nearly sixfold to ₹338 crore, with a revenue increase of 52%, bringing the consolidated revenue from operations to ₹5,164 crore. This growth trajectory highlights Go Digit General Insurance Limited's robust business model and its ability to scale effectively in a competitive market. The company's commitment to simplifying insurance for consumers and leveraging technology has set it apart and contributed to its financial success.

Distribution Network and Geographical Reach

Go Digit General Insurance Limited has established a significant presence in India's insurance sector through its expansive distribution network and geographical reach. As of December 31, 2023, the company has extended its footprint across 24 of the 36 states and union territories in India, demonstrating a commitment to accessibility and customer reach. The network is supported by approximately 61,972 Key Distribution Partners, which includes a diverse mix of around 58,532 Point of Sales Persons (POSPs), alongside individual agents, corporate agents, brokers, and other channels. This strategic distribution model ensures that Go Digit's innovative insurance solutions are readily available to a broad spectrum of customers, catering to a variety of insurance needs across different regions. The company's approach is deeply rooted in its mission to 'Make Insurance Simple', which is reflected in its customer-centric products and processes, designed to deliver a seamless insurance experience.

Unique Features

Go Digit General Insurance Limited stands out in the insurance market with its digital-first approach, offering a range of non-life insurance products designed for ease and accessibility. Key features that distinguish Go Digit General Insurance include a super simple and paperless claims process, a cashless facility across a wide network, and a smartphone-enabled claim process. The company boasts a high claim settlement ratio and offers zero deductibles on their policies, ensuring a transparent and quick claim settlement. With affordable premiums and an instant online quote system, Go Digit General Insurance simplifies the insurance experience for customers, making it more accessible and user-friendly. Their product portfolio is comprehensive, covering various aspects from health to travel, and even mobile insurance, catering to a broad spectrum of customer needs.

Investment in Research and Development

Go Digit General Insurance Limited, a prominent player in the insurance sector, has been making significant strides in research and development (R&D) to enhance its service offerings. The company's commitment to innovation is evident from its recent Initial Public Offering (IPO), where it raised a substantial amount of capital. A portion of the fresh issue of shares worth Rs 1,125 crore from the IPO is earmarked for investment in R&D, aiming to bolster their technological capabilities and develop new insurance products. This move is indicative of Go Digit's strategy to stay ahead in the competitive insurance market by investing in technology-driven solutions and customer-centric product development.

Go Digit General Insurance Limited IPO Details

  • Issue Date: The issue date in an IPO, also known as the initial offering date, is when a company's stock is first made available for public purchase. This date is a significant milestone in the process of an initial public offering, marking the transition of a company from private to public status. (Issue Date: May 15, 2024 to May 17, 2024).

  • Listing Date: The listing date refers to the day when the company's shares are officially listed and begin trading on a stock exchange. This is typically several business days (3-6 days) after the issue date after processes like share allotment and finalization are completed. On this date, investors who were allotted shares during the IPO can begin selling them, and new investors can start purchasing them on the exchange at the prevailing market price. (Listing Date: Thursday, May 23, 2024).

  • Face Value of Shares: The face value of shares in an IPO, also known as the nominal or par value, is a predetermined fixed price set by the company and mentioned in its memorandum of association. It represents the initial capital contributed by the founders and is used for accounting and regulatory purposes. During an IPO, shares are typically offered at a price higher than the face value, which includes a premium based on market demand and the company's performance indicators. (IPO Face Value: ₹10 per share).

  • Price Band: A price band of an IPO is the range of prices within which the investors can bid for the shares of a company that is going public. The price band is set by the issuer and the lead managers of the IPO, based on various factors such as the demand and supply of the shares, the financial performance and valuation of the company, and the market conditions. (IPO Price: ₹258 to ₹272 per share).

  • Lot Size: In an Initial Public Offering (IPO), the lot size refers to the minimum number of shares an investor can apply for. It is a pre-determined set of shares that investors must bid for, and applications must be in multiples of this lot size. The lot size ensures a standardized bidding process and helps in the fair allocation of shares among investors. (Lot Size: 55 Shares).

  • Total Issue Size: The total issue size represents the total number of shares the company is offering to raise capital through the IPO. This number is determined by the company and its advisors, considering factors like their funding needs and the expected investor demand. The total issue size is then divided by the lot size to determine the total number of lots available for purchase by investors. (Total Issue Size: 96,126,686 shares (aggregating up to ₹2,614.65 Cr) ).

  • Fresh Issue: A fresh issue of shares in an IPO refers to the creation and sale of new shares by a company to the public for the first time to raise capital. Unlike an Offer for Sale, where existing shareholders sell their shares, a fresh issue results in new funds going directly to the company, which can be used for various purposes such as expansion, debt repayment, or investment in new projects. This process dilutes the existing shareholding but does not provide an exit route for current investors. (Fresh Issue: 41,360,294 shares (aggregating up to ₹1,125.00 Cr) ).

  • Offer for Sale: An Offer for Sale (OFS) in the context of an Initial Public Offering (IPO) refers to a scenario where existing shareholders, such as promoters or venture capitalists, sell their shares to the public. The proceeds from this sale go to the shareholders rather than the company. This method is often used by company owners to reduce their holdings and is a way for the government to meet disinvestment targets, especially in Public Sector Units (PSUs). OFS can provide an opportunity for investors to buy shares at a discount, although this is not always guaranteed. (Offer for Sale: 54,766,392 shares of ₹10 (aggregating up to ₹1,489.65 Cr)).

  • Issue Type: The type of an IPO can vary depending on the market and regulatory conditions. Some of the common types of IPOs are, Fixed priced IPO, Auction IPO, Book Building IPO, and Hybrid IPO. (Issue Type: Book Building IPO).

  • Listing At: The listing of shares in an IPO refers to the process where a company's shares are introduced to the public stock market, allowing investors to buy and sell the shares through a stock exchange. Once listed, anyone with a brokerage account can buy and sell the company's shares on the exchange. (Listing at: BSE, NSE).

  • Retail Shares Offered: This refers to the portion of the total shares being made available specifically for individual investors, distinct from institutional investors like banks or hedge funds. Regulatory bodies often mandate a minimum percentage of shares be reserved for retail investors, aiming to promote broader public participation in the capital markets. (Retail Shares Offered: Not more than 10% of the Net Issue ).

  • QIB Shares Offered: QIBs are institutional investors such as banks, mutual funds, insurance companies, pension funds, etc., who have expertise and financial resources to invest in the securities market. They are considered as informed and sophisticated investors who can assess the risks and returns of an IPO. QIBs can bid for up to 50% of the total shares offered in an IPO via the profitability route, or up to 75% of the total shares offered in an IPO via the QIB route. QIBs have to pay only 10% of the bid amount at the time of application, and the rest after the finalization of the basis of allotment. (QIB Shares Offered: Not more than 75% of the Net Issue ).

  • NII (HNI) Shares Offered: NII stands for Non-Institutional Investors, which includes High Net-worth Individuals (HNIs) who bid for shares worth more than ₹200,000. The NII category is reserved for investors who do not fall under the retail or Qualified Institutional Buyers (QIBs) categories. Typically, a certain percentage of the IPO, usually around 15%, is allocated for NIIs to ensure a wider distribution of shares. HNIs within the NII category often have a higher chance of allotment compared to retail investors, making it an attractive option for those looking to invest larger sums in an IPO. (NII (HNI) Shares Offered: Not more than 15% of the Net Issue).

Competitors of the Go Digit General Insurance Limited

The Indian insurance market is a dynamic and competitive landscape, with numerous players vying for a significant share. Go Digit General Insurance Limited, known for its customer-centric approach and digital-first operations, faces competition from several established and emerging companies in the sector.

One of the notable competitors is Future Generali India Insurance Company Limited, established in 2006 in Maharashtra, which has carved out a niche with its diverse insurance products and services. Another significant player is PhonePe Insurance Broking Services Private Limited, formed in 2020 in Karnataka, which has quickly risen in the ranks due to its integration with the popular digital payments platform, PhonePe.

Edelweiss Tokio Life Insurance Company Limited, with its inception in 2009, also stands as a strong competitor, offering a range of life insurance products that cater to various customer needs. The New India Assurance Company Limited, one of the oldest players founded in 1919, continues to hold a substantial market presence with its extensive portfolio of insurance solutions.

Other competitors include Ageas Federal Life Insurance Company Limited and Canara HSBC Life Insurance Company Limited, both established in 2007, which have been expanding their footprint in the Indian insurance market through strategic partnerships and innovative offerings.

Zuno General Insurance Limited, a relatively new entrant founded in 2016, is making waves with its tech-driven approach to insurance, similar to Go Digit's model. Care Health Insurance Limited, formerly known as Religare Health Insurance Company Limited, has also been a strong contender since 2007, focusing on health insurance products.

IndiaFirst Life Insurance Company Limited, Kotak Mahindra General Insurance Company Ltd, and HDFC ERGO General Insurance Company are other noteworthy competitors, each with their unique strategies and product ranges that challenge Go Digit's market position.

Additionally, companies like Acko, Coverfox, and PolicyBazaar are part of the competitive landscape, offering online insurance aggregation and comparison services that provide consumers with a variety of choices and ease of purchase.

The competition in the general insurance sector in India is intense, with companies constantly innovating and adapting to the evolving needs of consumers. Go Digit General Insurance Limited, with its focus on simplifying insurance through technology, continues to strive for excellence in this competitive environment. The company's ability to innovate and its commitment to customer service will be crucial in maintaining and enhancing its market position amidst such robust competition.


In conclusion, the Go Digit General Insurance Limited IPO presents a significant event in the financial markets, reflecting the company's growth trajectory and future potential. With a substantial issue size of ₹2,614.65 crores, combining fresh issues and an offer for sale, the IPO has garnered attention from various investor segments. However, investors are advised to exercise due diligence, considering the high valuation and intense competition within the industry. The price-to-earnings ratio stands notably higher than the industry average, suggesting a premium on the shares. As the company navigates through a competitive landscape with a stable outlook from Crisil, the decision to invest should be weighed against individual financial goals and risk appetite. The IPO's performance post-listing will be a testament to the market's confidence in Go Digit General Insurance's business model and long-term viability.

Please Read the Detailed Review of the Blog Here.

Disclaimer: This is not an investment advisory. The article above is for information purposes only. Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please consider your specific investment requirements, risk tolerance, goal, time frame, risk and reward balance, and the cost associated with the investment before choosing securities, that suit your needs. The performance and returns of any equity stock can neither be predicted nor guaranteed.


Q: What is an IPO? 

An Initial Public Offering (IPO) is the first time a private company sells its shares to the public on a stock exchange.

Q: How can I apply for an IPO? 

You can apply for an IPO through your brokerage account or a participating bank's online platform.

Q: What is ASBA? 

ASBA (Application Supported by Blocked Amount) is a method of applying for IPOs where your bid amount gets blocked in your bank account only if your application is selected for allotment.

Q: Can everyone apply for an IPO? 

While most IPOs are open to retail investors, some may have eligibility criteria based on income, investment experience, or other factors. Check the IPO prospectus for details.

Q: What is the minimum investment amount for an IPO? 

The minimum investment amount varies depending on the IPO and the lot size (minimum number of shares) set by the company.

Q: What happens if my IPO application is not selected? 

If your application isn't selected, the blocked amount (if applied through ASBA) will be released back to your bank account.

Q: When will I receive the shares if my application is successful? 

Shares are typically credited to your Demat account within a few days after the allotment is finalized.

Q: Can I sell my IPO shares immediately after listing? 

Yes, you can generally sell your IPO shares as soon as they are listed on the stock exchange. However, consider market conditions and investment goals before making any decisions.

Q: Can I make payment for an IPO through UPI (Unified Payments Interface)? 

While not all platforms offer UPI yet, some online platforms and brokerages are increasingly integrating UPI as a payment option for IPO applications. Check with your chosen platform for confirmation.

Q: What are the risks involved in investing in IPOs? 

IPOs involve inherent risks, as they are often from younger companies with less established track records. Their future performance is uncertain, and the share price can be volatile after listing. Carefully research the company and the IPO details before investing.

Recent Posts

See All


bottom of page