The company had filed for an IPO in August 2022. However, Sebi had kept the issue in abeyance after raising queries on the company’s employee stock appreciation plan. Sebi’s objection led to the company refiling for its Rs 3,500 crore IPO. The company was valued at $3.5 billion in 2021, when it raised $200 million.
The company had gross written premium of Rs 7,317 crore as of Dec 2023. According to regulatory filings, Go Digit recorded a premium income of Rs 6,645 crore up to Jan 2024 in FY24, a 32% growth over the same period last year. The company has a market share of 2.76% in the non-life sector.
According to filings, Go Digit recorded a premium income of Rs 6,645 crore up to Jan 2024 in FY24, a 32% growth over the same period last year. The company has a market share of 2.8% in the non-life sector.
Sebi had queries on the company’s Go digit – Employee Stock Appreciation Rights Plan, 2018, which was subsequently replaced with an Employee Stock Option Plan by the company last year. The stock appreciation plan linked employee bonuses to the performance of the company’s shares, which is not permitted.
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