From Rs 2.5 crore to Rs 10 crore: Virat Kohli and Anushka Sharma's investments surged by 4 times in this company!
The IPO of the company attracted great response, with a subscription rate of 9.60 times, with the QIB and NII categories subscribing 12.56 times and 7.24 times, respectively.
Go Digit General Insurance's stock market debut on May 23 has brought substantial returns for celebrity couple Virat Kohli and Anushka Sharma, who invested in the insurer in February 2020.
With the company's share price crossing the Rs 300 mark, the couple's investment has grown four-fold while they continue to hold their shares in the company. Ace cricketer Virat Kohli purchased 266,667 equity shares in Go Digit at Rs 75 each, totalling an investment of Rs 2 crore, according to the insurance company's red herring prospectus (RHP). Actor Anushka Sharma acquired 66,667 shares for Rs 50 lakh, bringing the couple’s combined investment to Rs 2.5 crore.
With the share price exceeding Rs 300, Virat Kohli's Rs 2 crore investment has surged to Rs 8 crore, and Anushka Sharma’s investment has appreciated to Rs 2 crore. Combined, their shares are now worth Rs 10 crore. The Prem Watsa-backed insurance company's public issue comprised a fresh issue of shares worth Rs 1,125 crore and an offer-for-sale (OFS) of up to 5.48 crore shares, aggregating Rs 1,489.65 crore by its promoters and existing shareholders.
Incorporated in December 2016, Go Digit offers a diverse range of insurance products, including health, travel, and property insurance. The company has launched a total of 74 active products across all its business lines.
The company's stock settled at Rs 281.10 per share on the BSE, representing an impressive 3.35 per cent premium over the final issue price of Rs 272 per share. Additionally, on the NSE, the company's shares opened at Rs 286 per share, indicating a gain of 5.15 per cent. The market capitalisation on the BSE stands at around Rs 26,406 crore. Finally, the stock concluded the day at Rs 305.75 per share on the BSE.
As of May 17, 2024, the Go Digit General Insurance IPO was subscribed 9.60 times. The public issue saw a subscription rate of 4.27 times in the retail category, 12.56 times in the QIB category, and 7.24 times in the NII category. The IPO price band was Rs 258 and Rs 272, with a face value of Rs 10 per share and a lot size of 55 shares. The total size of the company's IPO was Rs 2615 crore, and the final share issue price was fixed at Rs 272 each.
Investors must keep this stock on their radar. It has great potential to deliver multibagger returns in the future.
Disclaimer: The article is for informational purposes only and not investment advice.