GoDigit General Insurance Limited Unlisted Shares

About Go Digit Insurance
The journey of Go Digit, a Fairfax backed non-life insurance company was started in the year 2017 when they received insurance business nod from IRDA. In the year 2017, along with Digit, IRDA had given in-principal approval to 2 more new insurance companies taking the total number of insurance players to 33 in India at that time.
Digit is the technology-driven insurance company, started by Kamlesh Goyal, and a very talented team of Insurance, that provides insurance products at a lower cost as compared to other conventional players in the market. Digit was formed with a motive of making insurance business smooth and hassle-free. They do all the process, interaction with channel partners, issuance of the policy, quotes, documentation on a real-time basis with the use of technology.
Within a year of launching the insurance business, they have covered three products across 3 categories (Motor, Travel, Personal accessories). Today they have almost all the non-life insurance products at its portfolio.

Philosophy of Digit
Conventional insurance companies think that “Claims are not good”. More the number of claims more will be the effect on the bottom-line of the P&L. So to avoid claims, first, they make insurance policies very difficult to understand and add a lot of conditions. Second, they make the processing of claims very cumbersome and time-consuming.
Digit has broken all these conventional thinking and said, “Claims are good”. Bring it on. At Digit, they follow the philosophy that claims are the reason that they exist, and customers are buying products for those days, when there would probably be a claim. Obviously, providing a hassle-free claims experience is an extremely important aspect of the insurance business.

Instances of use of technology in Travel and Motor Insurance explained by management;

1. “With the use of technology, It is possible for Digit to even predict in advance if a flight that the customer is traveling is delayed or not. They are able to see the route of the aircraft and predict if it will get delayed. They then send an SMS to the customer. There is a link on that SMS and if the customer clicks it then it allows him to take a picture of his boarding pass. He can put in his bank account number, and then there is an immediate claim registration and approval, and the money gets transferred to the customer’s account”.

2. Cut down Claims Inspection process from 7 days to 7 min
Even for motor and mobile claims, instead of people waiting for a third-party inspection, Digit empowers people to go for a self-inspection. This cuts down both operational costs for Digit and time for the customer. To give you an idea, the inspection time for car claims is 7 days on an average but our process takes 7 min.

Tie-ups with Business Partners
In 2017, Digit has tied-up with Sterling Holiday to provide travel insurance to its customers. As per the Sterling holiday, 5 lakh travelers visit their resorts every year, so with the help of Digit Insurance, they will provide insurance cover from departure to arrival for all these customers.

In 2018, Digit has tied-up with Cleartrip to offer unique insurance products to the clients of Clear trip. The product was designed for Domestic travel by airline. To make the claim process smooth, Digit has introduced a simple two-step process.
For instance, if a flight is delayed, the customers receive an SMS; they just need to click a photograph of their boarding pass and get the credit in their account instantly.

In 2018, Digit Insurance had partnered with India’s largest e-commerce platform Flipkart, to launch a mobile protection plan for those people who purchase smartphones on Flipkart’s platform. This insurance will cover the mobile phone from damage.

In 2018, Digit Insurance partners with Xiaomi for screen protection policies. The insurance product was available across more than 50 Mi home stores in the country at a starting price of Rs 399.

In 2019, Digit Insurance had announced a partnership with Karur Vysya Bank for its bancassurance business.

Fund Raising:
1. In 2017, the Fairfax holding had invested ~ 350 Crs in the company.
2. In 2018, Digit again raised ~300 Crs in the second round of funding from Prem Watsa led Fairfax holdings.
3. In 2020, Digit raised ~630 Crs from domestic PE like A91, Faering, and TVS capital.
4. Recently, the Virat Kohli and Anuskha Sharma have also invested close to Rs 2.5 crore in Bengaluru-based insurtech startup for a total of 3.33 lakh equity shares.
5. In 2021, Digit Insurance has become the first Indian startup to enter the coveted unicorn club – private companies valued at $1 billion and above – for the year 2021. According to a company statement, General insurance startup Digit Insurance has been valued at $1.9 billion, following its latest undisclosed investment round announced on Friday. In its last fundraise in October 2019, it had raised $817 million. It attained unicorn status after a span of four years.

Amazing Stats of Digit Insurance:
1. Added 10 lakh customers within 1 year of operation.
2. Added 20 lakh customers within 16 months of operation.
3. Digit Insurance secures 30 lakhs customers & Rs 1,200+ Crores Premium in just 17 Months.

Valuation:
In the latest deal that has happened in 2020, Digit has been valued at ~6000 Crs.

GoDigit General Insurance Limited Unlisted Shares Details:

Total Available Shares:	Not Available
Face Value:	₹ 10 Per Equity Share

Promoters And Management:

1. Mr. Kamesh Goyal, Chairman He has 30+ years of experience in the Insurance space across the globe• Has been the CEO of Bajaj Allianz General & Life Insurance businesses, CEO for Allianz business in Asia, Head of Allianz Group’s Planning and Performance Management. 2. Mr. Chandran Ratnaswami, Non-Executive Director He has 26+ years of experience in Investment Management and Currently, Mr. Chandran is the CEO of Fairfax India Holdings Corporation (Listed on Toronto Stock Exchange) and Managing Director of Hamblin Watsa Investment Council. 3. Mr. Rajendra Beri, Non-Executive Director He has 46+ years of experience in General Insurance space and held various senior positions and was the Chairman cum Managing Director of New India Assurance Company from 2002 to 2005.

Financials of GoDigit General Insurance Limited Unlisted Shares:

Particulars (in lakhs)	2017	2018	2019	2020
Gross Earned Premium	NIL	1,04,05	12,04,98	22,52,35
Net Earned Premium	NIL	746	4,99,98	12,41,35
PAT	-6.23	-7013	-27064	-17525
Net-Worth	278	27365	4,78,00	11,22,34
No. of shares	90	3500	6745.652	8168.431

Digit Insurance Annual Report FY-2017-18 Digit Insurance Annual Report FY-2018-19 Digit Insurance Annual Report FY-2019-20

Frequently Asked Questions:

Please find below the procedure for buying GoDigit General Insurance Limited Unlisted Shares at UnlistedZone.

1. You confirm booking of GoDigit General Insurance Limited Unlisted Shares with us at a trading price.
2. You provide your client master report (ask the broker if not available) along with PAN Card and Cancelled Cheque in case you are not transferring funds from the bank account as mentioned in the CMR Copy. These are KYC documents required as per SEBI regulations.
3. We will provide the bank details.
4. You need to transfer funds in that account.
5. Payment has to be done in RTGS/NEFT/IMPS CHEQUE TRANSFER. No CASH DEPOSIT.
6. Payment has to be done from the same account in which shares are to be credited.
7. We will transfer the shares in 24 hours if funds are credited before 2 pm.

Important Note: Please note that the lock-in period for selling GoDigit General Insurance Limited Unlisted Shares is 6 months after listing. Hence you can’t sell GoDigit General Insurance Limited Unlisted Shares which you bought in Pre-IPO for 6 months after its listing. i.e. You can sell it only after 6 months calculated from the listing date. For any queries, please contact us at sales@unlistedzone.com

Please find below the procedure for selling GoDigit General Insurance Limited Unlisted Shares at UnlistedZone.

1. We will confirm our buying price of GoDigit General Insurance Limited Unlisted Shares.
2. We will give you our client master report and you will transfer the GoDigit General Insurance Limited Unlisted Shares to our demat account.
3. We will ask for bank details of yours once the GoDigit General Insurance Limited Unlisted Shares are received in our demat account..
4. We will transfer the funds in your bank account within 24 hrs of receiving the GoDigit General Insurance Limited Unlisted Shares.
5. Payment will be made in RTGS / NEFT / CHEQUE TRANSFER/IMPS. No CASH DEPOSIT.
6. Payment will be given in the same account which is linked to demat account or you need to provide the cancelled cheque shows your name to verify. As per SEBI regulations, the transfer of funds in the third party account is not legal and our policy refrain us from doing so.

Note: The price at which we are buying the share is fixed for 3 days. If you cant sell your stock within 3 days, then the price of that day will be applicable when we receive shares in our demat.

Lock-in period of GoDigit General Insurance Limited Unlisted Shares depends upon category of investors.

1. Venture Capital Funds or Alternate Investment Fund of Category -I or II, or Foreign Venture Capital Investor - lock-in Period of 6 months from the date of acquisition of GoDigit General Insurance Limited Unlisted Shares.
2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of GoDigit General Insurance Limited Unlisted Shares.

This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the GoDigit General Insurance Limited Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.

1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.
- a. ISIN number of GoDigit General Insurance Limited Unlisted Shares.
- b. Name of GoDigit General Insurance Limited Unlisted Shares
- c. Quantity of GoDigit General Insurance Limited Unlisted Shares
- d. Cosideration Amount
- e. Target DP ID and Client ID
- f. Annexure
2. Online DIS - Some of the broker these days gives facility of transferring the GoDigit General Insurance Limited Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the GoDigit General Insurance Limited Unlisted Shares by filling the details similar to Ofline-DIS.

Read our article to understand more about this. https://unlistedzone.com/how-do-i-sell-my-unlisted-shares/

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. So, via our UnlistedZone platform, if somebody wants to buy GoDigit General Insurance Limited Unlisted Shares then minimum investment would be 35-50k.

Yes, buying and selling of unlisted shares in India is 100% legal.

If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.

If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.

Taxes will remain the same irrespective of listing of shares, if bought in unlisted market. Actually, to be eligible for taxes as per listed market, one has to pay STT on buying and selling of shares. But, if you buy in unlisted and sell in listed market, one pay STT only on selling so, taxes of listed market will not be applicable

If you buy GoDigit General Insurance Limited Unlisted Shares from UnlistedZone then these shares can checked in two ways. However, before we tell you the process of checking of shares, it is intimated that as per SEBI regulations, the shares can be transferred in demat account only.

Check credit of GoDigit General Insurance Limited Unlisted Shares Instantly?

1.You can download the NSDL or CDSL application from google play-store and check. If you want to check whether your stock broker is registered with NSDL or CDSL then check the following procedure.
By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
Demat Account = DP ID + Client ID. (16 Characters )
"DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio.
In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.
Example:
CDSL = 12345678(DP ID) and 91234567(Client ID).
NSDL = IN123456 (DP ID) and 78912345(Client ID).
Check in brokers application?
Credit of GoDigit General Insurance Limited Unlisted Shares can be checked in brokers application as well but it takes T+2 days to show the shares.

The GoDigit General Insurance Limited Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.

The price of GoDigit General Insurance Limited Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on UnlistedZone.live platform to see the historical graphs and prices of all the shares at one place.

If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

"UnlistedZone is India's fastest and leading marketplace to buy and sell unlisted shares. In the last 3 years, we have already served more than 1 million users on the platform. The total transactions value done from the platform is already more than 100 Crores. The name of our Co-founders Mr. Umesh Paliwal and Dinesh Gupta publish regularly in leading newspapers like MoneyControl, Business-Standard, ET etc for their views on IPO and Unlisted market. In the last 3 years, UnlistedZone has made a good name for itself in the industry and gained a trust of their users. So, the new investors should not be worried about any kind of fraud that is mostly happens with unkown brokers in the market while doing investment with UnlistedZone."

We at UnlistedZone do the valuation based on 2 methods.

1. We check the last funding that is being done in the GoDigit General Insurance Limited Unlisted Shares to ascertain the benchmark valuation.
2. If there is no funding happened in the company, then we try to find a business similar to GoDigit General Insurance Limited Unlisted Shares in the listed space and do comparison method to ascertain the valuation.

As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

We source shares either from the employees or initial investors looking to liquidate their GoDigit General Insurance Limited Unlisted Shares.

Pre-IPO shares means which are planning for an IPO in near future. So, all the shares which are traded on the platform are not Pre-IPO Shares. However, if the company's business is going good and then demand will always be there in the unlisted space, so even if the IPO does not come, the investors can easily liquidate their GoDigit General Insurance Limited Unlisted Shares in the unlisted market itself.

Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.

For tracking news and other information about GoDigit General Insurance Limited Unlisted Shares, one can visit our website wherein we post news and other information on daily basis and one can also join our telegram channel.

Discussion on GoDigit General Insurance Limited Unlisted Shares:

2 Comments

Abhishek Upadhyay

2:07 PM, 2 January 2021

What is the current price?

Log in to Reply
arc01y2k

3:29 PM, 21 September 2020

what’s the current price?

Log in to Reply

GoDigit General Insurance Limited Unlisted Shares

GoDigit General Insurance Limited Unlisted Shares Details:

Promoters And Management:

Financials of GoDigit General Insurance Limited Unlisted Shares:

Frequently Asked Questions:

Discussion on GoDigit General Insurance Limited Unlisted Shares:

2 Comments

Abhishek Upadhyay

arc01y2k

Leave a Reply Cancel reply

Services

Legal

Our Office :