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Insurtech startup Go Digit General Insurance gets SEBI's approval for IPO launch

IndianStartupNews · 1y

Go Digit General Insurance, an Indian insurtech startup backed by Fairfax Group, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The IPO includes a fresh issuance of shares worth Rs 1,250 crore and an offer for sale of 10.94 crore shares by existing shareholders. Go Digit aims to strengthen its capital base, maintain solvency levels, and support general corporate purposes. The startup offers a wide range of insurance products and is known for being India's first cloud-based non-life insurer. Cricket star Virat Kohli and actor Anushka Sharma are among its notable investors.