As per the combined bid details put out by the BSE at the close of Day-3, Go Digit General Insurance Ltd was subscribed 9.60X overall, with best demand coming from the QIB Segment, followed by the HNI / NII segment and the Retail segment in that order. The QIB portion was subscribed 12.56 times, the HNI portion was subscribed 7.24 times, and the Retail portion was subscribed 4.27 times
Mumbai:
Go Digit General Insurance, which had hit the markets, during May 15-17, for an initial public offer(IPO) for Rs 2,614.65 crore, saw the issue get overall subscribed 9.6 times.
The price band of the issue was Rs 258-272.
There were 5.85 lakh applications in all for the loss making general insurance company, the eighth player from the Indian insurance industry which is getting listed.
The issue is a combination of fresh issue of 4.14 crore shares aggregating to Rs 1,125.00 crores and offer for sale of 5.48 crore shares aggregating to Rs 1,489.65 crores.
The IPO of Go Digit General Insurance got fully subscribed on the third and final day of the IPO only, thanks to the traction in the QIB and HNI / NII portions.
As per the combined bid details put out by the BSE at the close of Day-3, Go Digit General Insurance was subscribed 9.60X overall, with best demand coming from the QIB Segment, followed by the HNI / NII segment and the Retail segment in that order
The QIB portion was subscribed 12.56 times, the HNI portion was subscribed 7.24 times, and the Retail portion was subscribed 4.27 times.
While the QIB portion and the HNI / NII portion picked up traction on the last day, the overall journey was relatively tepid for the retail investors.
The retail portion got fully subscribed on Day-1 of the IPO, while the overall IPO saw the subscription book filling up only on the last and final day of the IPO.
Both the QIB portion and the HNI / NII portion got fully subscribed only on the last day of the IPO.
The basis of allotment will be finalized on 21st May 2024 and the refunds will be initiated on 22nd May 2024. In addition, the demat credits are expected to also happen on 22nd May 2024 and the stock will list on 23rd May 2024 on the NSE and the BSE.