Virat Kohli And Anushka Sharma Reap Fourfold Returns From Go Digit IPO Listing

virat kohli and anushka sharma reap fourfold returns from go digit ipo listing

Virat Kohli And Anushka Sharma: The stock market debut of Go Digit General Insurance on May 23 has delivered fourfold returns for celebrity couple Virat Kohli and Anushka Sharma, who had invested in the insurer back in February 2020. With the company's share price crossing the Rs 300 mark, their investment has grown four-fold. Shares of Go Digit listed on the NSE at a premium of 5.15 per cent on Thursday. The stock debuted at Rs 286 as against the issue price of Rs 272. Meanwhile, on BSE, it listed at Rs 281.1, an upside of 3.35 per cent.

Virat Kohli And Anushka Sharma Investments In Go Digit

Ace cricketer Virat Kohli and actor Anushka Sharma made their investments in Go Digit through the company's red herring prospectus (RHP). Kohli purchased 266,667 equity shares at Rs 75 each, amounting to a total investment of Rs 2 crore. Meanwhile, Anushka Sharma acquired 66,667 shares for Rs 50 lakh. Together, the couple’s combined investment stood at Rs 2.5 crore.

Soon after the debut, Go Digit’s share price went up by 10 per cent. With the share price exceeding Rs 300, Kohli's Rs 2 crore investment has appreciated to Rs 8 crore, and Sharma’s Rs 50 lakh investment has surged to Rs 2 crore. Collectively, their shares are now worth an impressive Rs 10 crore.

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Go Digit’s Public Issue and Background

Go Digit General Insurance, backed by investor Prem Watsa, launched its public issue with a fresh issuance of shares worth Rs 1,125 crore and an offer-for-sale (OFS) of up to 5.48 crore shares, totaling Rs 1,489.65 crore. The company was incorporated in December 2016 and has since grown to offer a diverse range of insurance products, including health, travel, and property insurance. To date, Go Digit has launched 74 active products across its various business lines.

The day before its issue opened on May 14, Go Digit secured approximately Rs 1,176 crore from anchor investors. This robust support came from prominent entities such as Fidelity, the Abu Dhabi Investment Authority (ADIA), and hedge fund Bay Pond Partners. The company allocated 4.32 crore equity shares to 56 funds at Rs 272 each, which was the upper price band, indicating strong investor confidence in the company's prospects.

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Virat Kohli and Anushka Sharma are not alone in their successful ventures into the stock market. In December 2023, cricket legend Sachin Tendulkar's investment in Azad Engineering paid off handsomely when the company went public. Tendulkar had acquired 4.3 lakh shares at Rs 114.10 each in March 2023. By the time Azad Engineering listed on the bourses on December 28, the stock price had soared to Rs 720, increasing the value of his investment six-fold.