Go Digit sets price band at Rs 258-272/share
image for illustrative purpose
New Delhi: Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, on Friday fixed a price band of Rs258-272 per share for its Rs2,615-crore initial public offering (IPO).The initial share-sale will open for public subscription during May 15-17 and the bidding for anchor investors will open for a day on May 14, the company announced.
Go Digit’s proposed IPO comprises fresh issuance of equity shares worth Rs 1,125 crore and an Offer-for-Sale (OFS) of 5.47 crore equity shares by promoter Go Digit Infoworks Services and existing shareholders worth Rs 1,490 crore. This takes the total IPO size to Rs 2,615 crore at the upper end of the price band. At present, Go Digit Infoworks Services owns 83.3 per cent stake in the company.
