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Go Digit , an Amerindic insurance startup , has raised $ 141 million from scores of investors as part of an initial public offering that starts on Wednesday .
Founded by Kamesh Goyal , an old-hat - KPMG administrator and insurance industry veteran , Go Digit sell car , wellness , travelling , and inadvertent policy . The startup simplify the indemnity purchasing and salvation process , letting exploiter self - inspect , submit claims , and process service requests from their smartphones . It had a total of about 43 million customer in the nine months cease December last class , and had issued a totality of 8 million policies , according to its IPO prospectus .
The Mumbai - based startup aims to raise about $ 313 million from the IPO . It ’s seeking a evaluation of about $ 3 billion , which would be about 25 % lower than its last individual rating of $ 4 billion .
Retail investors in India have been warming up to technical school inauguration stocks . Even though the nation ’s benchmark , Sensex , is up by 1.4 % this year , many of the tech startups that went public on Indian blood line rally in recent years have outperform it . plowshare of food deliverance firm Zomato are up 51.2 % this class , while indemnity aggregator Policy Bazaar ’s stock is up 60.4 % .
Go Digit — backed by Peak XV , Fairfax Group , TVS Capital , A91 Partners , and Indian star cricketer Virat Kohli — initiallysought to go public in 2022but abandoned that programme citing hapless market conditions . It had assay to raise $ 440 million in the IPO , harmonize to the draught course catalogue that it filed at the sentence .
Go Digit is only one of the many Amerind companies looking to name publically this class . Food delivery startup Swiggy also confidentially file away to go public last month , seeking to call down about $ 1.25 billionin the IPO . Ola Electricfiled to go publiclate last year , and its older sibling , ride - come behemoth Ola , plans to be suit later this yr .
