• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, June 21, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Go Digit, backed by Fairfax and Virat Kohli, files for IPO

by Disha Mitra
August 17, 2022
in Business, Markets, News, Tech
Reading Time: 2 mins read
0
Logo of digit depicted

Source: Entrackr

TwitterWhatsappLinkedin
Image depicting Virat Kohli wearing a Digit T-shirt
Go Digit which is backed by Fairfax and Virat Kohli, files for IPO.
Source: Business Today India

Go Digit, which is backed by Indian cricketer Virat Kohli and Fairfax Group of Canadian billionaire Prem Watsa, filed for an initial public offering this week. It went on to file the required paperwork on August 16 with the market regulator SEBI- Securities Exchange of India for the IPO for the generation of funds.

You might also like

Apple in Early Talks to Acquire Perplexity AI, Its Largest Deal Yet

Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

The IPO of Digit Insurance comprises a new issue of shares coming to about Rs. 1,250 crore. At the same time, shareholders already present would let go of a maximum of 109.4 million shares, according to the DRHP- draft red red herring prospectus. Moreover, the firm stated that it might be selling shares roughly worth $250 crore in a pre-IPO placement. In case of this, share sale in this IPO issue would be much lesser than anticipated.

The shareholders of the entire conglomerate include Go Digit Infoworks Services Private Limited, Nikita Mihir Vakharia, along with Mihir Atul Vakharia. Additionally, Nikunj Hirendra Shah, along with Sohag Hirendra Shah, as well as Subramaniam Vasudevan, and Shanti Subramaniam are its promoters, and ones selling.

The company’s plan for this:

One of the proposals of Digit include the use of the net proceeds to boost its balance sheet and facilitate cash reserve that the regulator needs for such insurance firms. This one was founded in the year 2017, and has been attempting to profit through the untouched general insurance market of the country.

Along with it, the company is further trying to benefit from the requirement of the customers for an enhanced customer experience such simpler settlement of claims. The founder of the company, Kamlesh Goyal is adequately familiar with the insurance sector owing to his tenure at Allianz of Germany, and was the boss of its joint venture with India.

One of its most prominent investors include Indian cricketer Virat Kohli, who is also its brand ambassador. Digit’s promoters include Go Digit Infoworks Services Private Limited, Kamlesh Goyal. Along with it, Oben Ventures LLP and Fairfax holdings’s extension FAL Corporation. The net loss suffered by the firm went all the way to Rs. 295 crore the previous financial year. This was as opposed to the Rs. 122 in the one before that.

The regulator often needs firms in the industry to be a minimum of five years old prior to going public, which Go Digit would complete by the next month. Its plans include raising funds through the offer of new shares, in partnership  with Fairfax, with its biggest shareholder with around 30%, cuttings its share.

Tags: digitFairfaxinsuranceIPOTech newsVirat Kohli
Tweet54SendShare15
Previous Post

Make Learning More Fun With Interactive Displays

Next Post

Apple lay off 100 contract workers

Disha Mitra

Recommended For You

Apple in Early Talks to Acquire Perplexity AI, Its Largest Deal Yet

by Thomas Babychan
June 21, 2025
0
Apple in Early Talks to Acquire Perplexity AI, Its Largest Deal Yet

In recent weeks, Apple has been engaged in private discussions about a potential acquisition of the AI search startup Perplexity, according to sources familiar with the matter. These...

Read more

Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

by Harikrishnan A
June 21, 2025
0
Eutelsat’s Shares Skyrocket as France Leads €1.35 Billion Investment in Satellite Future

Eutelsat, the European satellite company, made headlines this week as its stock surged an impressive 31% on Friday. The rally came right after the company announced it had...

Read more

Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

by Harikrishnan A
June 21, 2025
0
Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

In a courtroom in Piraeus, Greece, silence quickly turned to shock when three police officers stepped forward, handcuffed a 59-year-old man, and led him away. Moments earlier, the...

Read more
Next Post
Apple logo seen at window

Apple lay off 100 contract workers

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?