Go Digit Gen Insurance re-files IPO papers
image for illustrative purpose
New Delhi: Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, has refiled preliminary IPO papers with Sebi after making certain changes to its employee stock appreciation rights scheme, an update with the markets regulator showed on Thursday.
This came after Sebi returned Go Digit's draft IPO (Initial Public Offering) papers on January 30 and asked the company to refile the documents with certain updates.
The size of the company's IPO remain unchanged in the revised documents. Go Digit's proposed IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an Offer For Sale (OFS) of 10.94 crore equity shares by a promoter Go Digit Infoworks Services and existing shareholders.
from the fresh issuance have been proposed to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes.
The company had first filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in August 2022 to raise funds through an initial share sale.
