Virat Kohli Digit Insurance IPO: Former Indian cricket team captain Virat Kohli backed insurance company Digit Insurance is preparing for listing in the stock market. It is believed that the company can come up with an IPO of Rs 4,000 crore to raise money from the market. The company can file a draft paper (DRHP) with the stock market regulator SEBI by September for approval of the IPO (Initial Public Offering). At the same time, by January next year, shares can be listed in the stock market.
Virat Kohli’s relationship with Digit Insurance!
Actually, Virat Kohli is the brand ambassador of Digit Insurance as well as the investor of the company. Virat Kohli has invested in the company. Let us tell you that Kamesh Goyal is the founder of Digit Insurance, who founded the company in 2017 that himself used to lead the German insurance company’s joint venture in India of Allianz. Canadian billionaire Prem Vatsa’s Fairfax Group is also invested in Digit Insurance.
Digit will expand
Digit has appointed Morgan Stanley and ICICI Securities as the bookrunners for the IPO. Digit was valued at $4 billion when it raised $400 million from private equity investors. Digit is present in the non-life insurance sector and has served 20 million people till date. The company does car bike, health, travel insurance. The non-life insurance sector in India is yet to expand a lot. The regulator of the insurance sector, IRDAI, currently holds only 0.94 percent of the non-life insurance sector, which used to be 0.56 percent 20 years ago.
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