MUMBAI: Digital-only non-life insurance player Go Digit General Insurance which is backed by celebrity couple Virat Kohli and Anushka Sharma on Friday fixed the price bank for its Rs 2,615 crore IPO at Rs 258-272. The issue opens on May 15 and closes on May 17.
The Bengaluru-based Go Digit which is promoted by the Canada based NRI investor Prem Watsa said the IPO comprises a fresh issue of shares worth Rs 1,125 crore and an offer for sale (OFS) of 54,766,392 shares, according to the draft prospectus. At the upper end of the price band of Rs 272, the OFS would fetch about Rs 1,490 crore to the selling investors.
Kohli and Sharma entered the company in 2020 at Rs 75 a share and going by the price band they are going to make a killing with the IPO.
According to the issue prospectus, the RCB star batter acquired 2,66,667 equity shares amounting to Rs 2 crore, while Sharma bought 66,667 equity shares worth Rs 50 lakhs. Together, they invested Rs 2.5 crore. It’s not known how much they are divesting now.
At the upper end of the price band (Rs 272), Kohli’s 2,66,667 shares are valued at Rs 7.25 crore, while Sharma’s 66,667 shares are worth Rs 1.81 crore, totalling Rs 9.07 crore.
Go Digit’s promoters include Prem Watsa’s Fairfax Group, Kamesh Goyal, GoDigit Infoworks Services and Oben Ventures.
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