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Go Digit, the fast-growing general insurance company, listed at Rs 286 per share, translating to a 5% gain over the issue price of Rs 272.The listing fell short of expectations as the grey market trends suggested a potential gain of around 10%.Analysts said Go Digit's position as the fastest-growing private non-life insurer by GWP in India positions it for continued success in the dynamic insurance market. The company's advanced technology platform and focus on innovation bode well for its future."Go Digit's moderate listing necessitates a balanced approach from investors. While the company possesses strong long-term potential, careful consideration of the valuation and competitive landscape is crucial. Investors may hold their position by keeping a stoploss at the issue price," said Shivani Nyati, Head of Wealth, Swastika Investmart.Also Read: Virat Kohli-backed Go Digit debuts at 5% premium over IPO priceAhead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.In 2020, cricketer Virat Kohli bought 2.66 lakh shares of the company for Rs 2 crore, while actress wife Anushka Sharma invested 50 lakh through a private placement.Ahead of the IPO, the promoter group, including Canada-based Fairfax, Kamesh Goyal, Go Digit Infoworks, and Oben Ventures, owned an 83.31% stake in the company.Go Digit is a leading digital full-stack insurer and the fastest-growing private non-life insurer by GWP in India. They offer a simplified and customized customer experience, with focus on empowering their distribution partners.In the 9 months ended December 2023, Go Digit's net earned premium rose to Rs 5,115 crore vs Rs 3,767 crore in the corresponding period of the previous financial year. It reported a profit after tax of Rs 129 crore in the 9-month period vs Rs 10 crore in the first 9 months of FY23.The PE ratio, based on the diluted EPS for 2023, at the upper range of the price band is 680x as compared to the average industry peer group of 46.13x.ICICI Securities, Morgan Stanley India, Axis Capital, Edelweiss Financial Services, HDFC Bank, and IIFL Securities acted as the book-running lead managers for the IPO.

After jumping 435% in one year, the board of multibagger stock KPI Green Energy today announced a stock split in the ratio 1:2, meaning that one equity share of the company will now be split into 2 equity shares.“The Board of Directors, inter alia, has considered, approved and recommended ordinary resolution through postal ballot for alteration of the capital of the Company by sub-division/split of existing equity share of the Company from One equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up, into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each, fully paid-up,” the company said in a filing to stock exchanges.The stock split is being done in order to enhance the liquidity of the company's equity shares and encourage the participation of small investors by making it more affordable, it said.Also read: GRSE shares surge 20% after posting doubling Q4 profit but ICICI Securities screams sellThe expected timeline for the completion of the activity will be approximately 3 months from the date of receipt of approval of the shareholders of the company.The record date for the purpose of the subdivision of the equity shares would be decided after obtaining approval of the shareholders through postal ballot and will be intimated to the exchanges at a later date.KPI Green had also informed the exchanges about its decision to raise funds through the issue of equity shares by way of QIP earlier in May month.The shares of KPI Green Energy were trading nearly 3% higher at Rs 1,935.75 around 12 noon today.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Three Bengaluru hotels including the five-star hotel The Oterra received bomb threats via email on Thursday. Teams of Bomb Squad, sniffer dogs and the police are searching at The Oterra and other hotels, said DCP South East Bengaluru, as quoted by ANI.The threat comes a month after the principal at Treamis School in Hulimangala received a bomb threat via email. It was declared as a hoax after an extensive three hour search of the school.(This is a developing story)