Go Digit General Insurance received approval from India’s insurance regulator, the Insurance Regulatory and Development Authority of India (IRDAI), to go public.
According to Go Digit’s draught red herring prospectus (DRHP), the company’s IPO will include a fresh issue of equity shares worth INR 1,250 Cr and an offer for sale (OFS) of 10,94,45,561 equity shares, according to CNBCTV18. The company may also consider a pre-IPO placement of equity shares worth up to INR 250 crore. On August 17, the Fairfax and Sequoia-backed startup filed its draught IPO papers.
