Virat Kohli backed Digit Insurance files for IPO

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year.

According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million shares. The regulator Insurance Regulatory and Development Authority (IRDAI) mandates insurtech companies to be at least five years old before going public.

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The public offer makes Digit Insurance the second insurtech startup to go public after Policybazaar did so last year.

About Digit Insurance

Founde by Kamesh Goyal in 2017, the Bengaluru-based Digit Insurance began its journey to sell primarily motor and travel and property insurance.

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Currently, Go Digit Infoworks holds a majority stake in Digit Insurance. Shareholders of Go Digit Infoworks include Kamesh Goyal, Oben Ventures (Kamesh+Sameer Bakshi’s company), and FAL Corporation (part of Prem Watsa's Fairfax Holdings).