Muted debut for Go Digit, shares surge around 8% post listing

Shares of Go Digit General Insurance Ltd, backed by Canada-based Fairfax, have a muted debut on bourses as they got listed with a premium of over 5 per cent against the issue price of Rs 272. The stock began the trade at Rs 281.10, up 3.34 per cent from the issue price on the BSE. It later climbed around 8 per cent from the listing price to trade at 305.85.

At the NSE, it listed at Rs 286, reflecting a jump of 5.14 per cent.

The company's market valuation stood at Rs 26,869.44 crore.

The initial public offering (IPO) of Go Digit General Insurance received 9.6 times subscription on the closing day of the share-sale on Friday.

The Rs 2,615-crore initial share sale had a price band of Rs 258-272 per share.

Cricketer Virat Kohli and his wife and actor Anushka Sharma are among the investors in the firm. They did not sell any stake in the IPO.

Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products to meet the needs of the customers.

It is one of the first non-life insurers in India to be fully-operated on cloud and has developed application programming interface (API) integrations with several channel partners.