Fairfax-backed general insurance firm Go Digit files DRHP for IPO

Unicorn will be first general insurer to be listed on the bourses in five years

Go Digit, the general insurer backed by Canada’s Fairfax, has filed its draft red herring prospectus (DRHP) to raise around Rs 5,000 crore through an initial public offering (IPO) that will include fresh issuance of equity shares and an offer-for-sale.

It will be the first general insurer to be listed on the bourses in five years. ICICI Lombard General Insurance and New India Assurance went public in 2017. The company, formally known as Go Digit General Insurance, is looking to issue fresh equity of Rs 1,250 crore while the offer-for-sale will consist of 109.4 million equity shares by promoters and