Go Digit General Insurance's initial public offering (IPO) achieved 36% subscription on the first day of trading, according to BSE data. The offer attracted bids for 1.89 crore shares, compared to 5.28 crore shares on offer.

According to stock market data as of 17:00 p.m. on May 15, the public offering was subscribed 1.44 times (1,38,80,460 shares) in the retail category and 0.34 times (49,73,155 shares) in the Non Institutional Investors category.

The portion designated for Qualified Institutional Buyers (QIBs) is yet to be booked.

On May 14, the Fairfax-backed insurtech business secured approximately Rs 1,176 crore from anchor investors including Fidelity, the Abu Dhabi Investment Authority (ADIA), and hedge fund Bay Pond Partners. The corporation has awarded 4.32 crore equity shares to 56 funds at Rs 272 each, at the top of the pricing range.

The business stated that out of the entire allocation to anchor investors, 1.44 crore equity shares (33.51 percent) were distributed to eleven domestic mutual funds through 23 schemes.

Go Digit is entering the primary market with a Rs 2,614.65-crore initial public offering (IPO). The offering consists of a fresh issuance of 4.14 crore shares worth Rs 1,125 crore and an offer to sell 5.48 crore shares for Rs 1,489.65 crore.

Approximately 75% of the issue size has been set aside for qualified institutional investors, 15% for non-institutional investors, and the remaining 10% for retail investors. Investors are permitted to bid for a minimum of 55 equity shares and multiples of 55 equity shares thereafter.

The IPO's subscription period began on May 15 and ends on May 17. An investor may bid for a minimum of 55 equity shares or multiples thereof.