Virat-Anushka to earn big from Go Digit IPO. Check amount here
Virat-Anushka to earn big from Go Digit IPO. Check amount here
Indian cricket star Virat Kohli and Bollywood actor Anushka Sharma are likely to make huge gains from their investment in Go Digit General Insurance, made around four years ago.
According to the company’s red herring prospectus (RHP), the couple invested in Go Digit back in February 2020.
Virat Kohli and Anushka Sharma purchased shares of Go Digit General Insurance at Rs 75 each in February 2020.
While the RCB star batter acquired 2,66,667 equity shares, amounting to Rs 2 crore, Anushka Sharma bought 66,667 equity shares worth Rs 50 lakhs. Together, they invested Rs 2.5 crore.
The celebrity couple is expected to see a substantial increase in their wealth, with returns of over 3.6 times, as Go Digit prepares to launch its IPO next week on Wednesday, May 15.
The IPO price band is set between Rs 258 and Rs 272 per share, indicating that Kohli and Sharma could see a return of 262% from the issue price.
At the upper end of the price band (Rs 272), Virat Kohli’s 2,66,667 shares are valued at Rs 7.25 crore, while Anushka Sharma’s 66,667 shares are worth Rs 1.81 crore. This totals Rs 9.07 crore at the upper price range.
Go Digit General Insurance’s promoters include Prem Watsa’s Fairfax Group, Kamesh Goyal, GoDigit Infoworks Services, and Oben Ventures LLP.
The company has reduced its offer-for-sale (OFS) component to 5.47 crore equity shares from the previously proposed 10.94 crore shares.
Go Digit aims to raise a little over Rs 2,600 crore through its IPO, which will be open for subscription from May 15 to May 17.
The IPO is divided, with 75% reserved for qualified institutional bidders (QIBs), 15% for non-institutional investors, and 10% for retail investors.
The company achieved profitability in the financial year 2023-24, reporting a net profit of Rs 35.54 crore with a revenue of Rs 39.19 crore. For the nine months ending December 31, 2023, its net profit was Rs 129.02 crore with a revenue of Rs 130.83 crore.
The book running lead managers for the Go Digit IPO are ICICI Securities, Morgan Stanley India Company, Axis Capital, Nuvama Wealth Management, HDFC Bank, and IIFL Securities. Link Intime India is the registrar for the issue.
Shares of the company are set to be listed on both BSE and NSE, with a tentative listing date of Thursday, May 23.