Weekly Finance Update

Market Update

This week, the Nifty Bank opened at 49,174.55 on 06/05/2024 and closed on Friday at 47,421.10, down by -1,753.45 points.

The Nifty 50 opened this week at 22,561.60 and closed on Friday at 22,055.20, down by -506.4 points.

Upcoming IPO

Go Digit General Insurance Ltd is set to go public with an IPO. Here are the details:

- Opening Date for Application: May 15, 2024

- Bidding Price: ?258 to ?272 per share

- Closing Date: May 17, 2024

- IPO Size: ?2,614.65 Cr

- Minimum Investment: ?14,960 (for 55 shares)

- Allocation Date: May 21, 2024

- Listing Date: May 23, 2024

The company operates in the insurance sector and has shown significant growth over the years.

Company Overview

Go Digit General Insurance Ltd, also known as Digit, is a digital insurance company. The company was incorporated on December 7, 2016, and is located in Pune, Maharashtra. It's authorized share capital is INR 1,000.00 Cr and the total paid-up capital is INR 875.84 Cr. The company enables consumers to buy various types of insurance including vehicle, travel, property, flight delay, health, mobile, holiday home, and shop insurance. They are known for their tech-driven approach and focus on simplifying the process of buying and claiming insurance products. The company has been operational since 2017 and has grown significantly over the years.

Please note that investing in IPOs involves risks, and it's important to read all the related documents carefully before investing. Stay tuned for more updates next week!

Go Digit General Insurance Ltd

• - Go Digit General Insurance Ltd, also known as Digit, is a digital insurance company.
• - The company was incorporated on December 7, 2016, and is located in Pune, Maharashtra.
• - It's authorized share capital is INR 1,000.00 Cr and the total paid-up capital is INR 875.84 Cr.
• - The company enables consumers to buy various types of insurance including vehicle, travel, property, flight delay, health, mobile, holiday home, and shop insurance.
• - They are known for their tech-driven approach and focus on simplifying the process of buying and claiming insurance products.
• - The company has been operational since 2017 and has grown significantly over the years.

News Highlights

1. Bank of India Q4 Results: The bank’s net profit rose by 7% to ?1,439 Cr.
2. Indegene Listing: The stock is expected to list at a 40-65% premium over the IPO price on May 13.
3. Kalyan Jewellers Q4 Results: The company’s net profit doubled to ?1,374.93 Cr, with revenue up by 34%.
4. New SME IPO: Solar PV, lithium-ion battery maker RCRS may go public in mid-June to raise ?30 Cr.
5. Pizza Hut India Operator Sapphire: The company missed Q4 profit view due to slow demand.