Go Digit On The Block: Virat Kohli & Anushka Sharma Backed Company To Issue IPO On 15 May

IPOs are mini-festivities in the equity market that, more often than not, light up the news channel tickers with booming subscription numbers. And it only adds to the charm, when there is a big company or a major personality attached to the company that is looking to get listed.

On the same line, Go Digit a company backed by cricketer Virat Kohli and actor Anushka Sharma, is slated to issue its initial public offering, or IPO on 15 May.

According to reports, while many other high-profile investors are selling their stakes, Virat Kohli and Anushka Sharma will not be selling their shares.

Some of the entity's key names include its Non-Executive Chairman and Director, Kamesh Goyal, and GoDigit Infoworks Services Private Limited along with Oben Ventures LLP and FAL Corporation.

Go Digit is an digital insurance company, and the enitiy intends to use the resources raised to expand its business. The company is based out of Pune.

The IPO comprises of a fresh issue of Rs 1125 crores. On offer sale is up to 109,445,561 equity shares. Each of these equity shares is worth Rs 10.

The IPO will close on 17 May. The company will be listed on both National Stock Exchange and the Bombay Stock Exchange. In this, 10 per cent will be earmarked for Retail Quota. 75 per cent will be earmarked for QIB or Qualified institutional investors. In addition, 15 per cent will be for NII or Non-Institutional investors.

After closing of the IPO, refunds will be arranged on 22 May. The shares would be credited to the account on 22 May. Finally, the IPO will be listed on 23 May.