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Go Digit General Insurance received approval from IRDAI to go public

The Insurance Regulatory and Development Authority of India (IRDAI), India’s insurance regulator, gave the all-ahead for Go Digit General Insurance to go public. The company’s IPO will involve a fresh issue of equity shares valued at INR 1,250 Cr and an offer for sale (OFS) of 10,94,45,561 equity shares, according to Go Digit’s draught red herring prospectus (DRHP), according to CNBCTV18. The business can possibly think about pre-IPO equity share placements for up to INR 250 crore. The business financed by Fairfax and Sequoia submitted its draught IPO papers on August 17.

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