IPO watch: Virat Kohli, Anushka Sharma make 3.6 times returns on Go Digit in 4 years!

Indian cricketer Virat Kohli and his actress wife Anushka Sharma are likely to mint multibagger returns from their investment in Go Digit General Investment made about four years ago. The duo had made their investment in February 2020, said the red herring prospectus (RHP) of the company.
 

Both Virat Kohli and Anushka Sharma bought shares of Go Digit General Insurance Company at an issue price of Rs 75 apiece on February 14, 2020. Kohli bought 2,66,667 equity shares amounting to Rs 2 crore while Sharma lapped up 66,667 equity shares worth Rs 0.50 crore in the placement. The couple cumulatively poured in Rs 2.5 crore in the insurer.
 

The celebrity couple is likely to see their wealth jump more than 3.6 times as the new-age general insurance company is gearing up to launch their IPO next week, on Wednesday, May 15. The company has fixed price band at Rs 258-272 apiece, suggesting that Kohli and Sharma will make a return of 262 per cent at the upper end of the price from their issue price.
 

At the upper end of the price band (Rs 272), Virat Kohli's 2,66,667 shares are valued at Rs 7.25 crore, while Anushka Sharma's 66,667 shares are worth Rs 1.81 crore. The total investment is valued at Rs 9.07 crore at the upper end of the price band.
 

Prem Watsa's Fairfax Group, Kamesh Goyal, GoDigit Infoworks Services and Oben Ventures LLP are the promoters of Go Digit General Insurance. The company has halved its offer-for-sale (OFS) component to 5.47 crore equity shares from 10.94 crore shares, proposed earlier.
 

Go Digit is looking to raise a little more than Rs 2,600 crore via its initial stake sale, open between May 15 and May 17. The company has reserved 75 per cent for the qualified institutional bidders (QIBs), while 15 per cent for non-institutional investors and 10 per cent for retail investors.
 

The company turned profitable in the financial year 2023-24 reported a net profit of Rs 35.54 crore with a revenue of Rs 39.19 crore. Its net profit came in at Rs 129.02 crore with a revenue of Rs 130.83 crore for the nine months ended on December 31, 2023.
 

ICICI Securities, Morgan Stanley India Company, Axis Capital, Nuvama Wealth Management, HDFC Bank and IIFL Securities are the book running lead managers of the Go Digit IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE, with Thursday May 23 as the tentative date of listing.