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    Anushka Sharma and Virat Kohli made 3.6 times the returns on Go Digit in 4 years


    Finance Outlook India Team | Friday, 10 May 2024

    Indian cricket player Virat Kohli and his spouse, actress Anushka Sharma, are probably going to reap enormous rewards from their about four-year-old Go Digit General Investment. The two had invested in February 2020, according to the company's red herring prospectus (RHP).

    On February 14, 2020, Anushka Sharma and Virat Kohli each purchased shares in Go Digit General Insurance Company at the issue price of Rs 75. In the placement, Kohli purchased 2,66,667 equity shares for Rs 2 crore, while Sharma snapped up 66,667 equity shares for Rs 0.50 lakh. Together, the couple gave the insurance a total of Rs 2.5 crore.

    The new-age general insurance firm is getting ready to make its initial public offering (IPO) on Wednesday, May 15, which means that the famous couple's fortune is expected to increase by more than 3.6 times. At the higher end of the price range from their issue price, Kohli and Sharma stand to gain 262 percent according to the company's defined price band of Rs 258-272 per share.

    Virat Kohli's 2,66,667 shares are valued at Rs 7.25 crore at the high end of the price band (Rs 272), while Anushka Sharma's 66,667 shares are priced at Rs 1.81 crore. At the high end of the pricing range, the entire investment is valued at Rs 9.07 crore.

    Go Digit General Insurance is promoted by Oben Ventures LLP, GoDigit Infoworks Services, Kamesh Goyal, and Prem Watsa's Fairfax Group. The offer-for-sale (OFS) component of the corporation has been reduced by half, from 10.94 crore shares to 5.47 crore equity shares.

    Go Digit's inaugural equity sale is scheduled to take place between May 15 and May 17, with the goal of raising somewhat more than Rs 2,600 crore. Ten percent is allocated to retail investors, fifteen percent to non-institutional investors, and seventy-five percent is reserved by the corporation for qualified institutional bids (QIBs).

    In the fiscal year 2023–2024, the business earned a profit, reporting a net profit of Rs. 35.54 crore on revenue of Rs. 39.19 crore. For the nine months that concluded on December 31, 2023, its revenue was Rs 130.83 crore, and its net profit was Rs 129.02 crore.

    The book running lead managers of the Go Digit IPO are ICICI Securities, Morgan Stanley India Company, Axis Capital, Nuvama Wealth Management, HDFC Bank, and IIFL Securities. Link Intime India is the registrar for the offering. The company's shares will be listed on the BSE and NSE, with a tentative listing date of Thursday, May 23.



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