Virat Kohli
and
Anushka Sharma
, the celebrity couple, are poised to earn a substantial
multibagger return
of 271% when Go Digit, a new-age
insurance startup
based in Bengaluru, goes public next week.
With the upper price band set at Rs 278, their total investment of Rs 2.5 crore is expected to go to Rs 9.25 crore, resulting in a notional profit of Rs 6.75 crore, says an ET report.
In January 2020, cricketer ‘King’ Kohli bought 266,667 shares at a per unit price of Rs 75 each through a private placement. The total investment was around Rs 2 crore.
Go Digit has announced that its Rs 2,615 crore IPO will be open for subscription from May 15-17, with a price band of Rs 258 to Rs 278 per share. The shares are currently trading at a premium of approximately 18% in the grey market.
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Considering the upper price band, Kohli’s investment would be valued at around Rs 7.4 crore, with the potential for even higher gains if the shares are listed at a premium to the issue price.
Anushka Sharma, Kohli’s wife, also invested Rs 50 lakh by purchasing 66,667 shares of the company at Rs 75 per share. At the upper price band, her investment would be worth approximately Rs 1.85 crore. Together, Kohli and Sharma stand to make a notional profit of Rs 5.4 crore and Rs 1.35 crore, respectively, totaling Rs 6.75 crore.
ET quoted reports suggesting that Kohli is among the world’s 100 richest sportspersons, with a net worth exceeding Rs 1,000 crore, while Sharma has also accumulated a fortune of around Rs 300 crore.
The
Go Digit IPO
consists of a fresh issue of shares worth Rs 1,125 crore and an offer for sale (OFS) of 54,766,392 shares. At the upper price band of Rs 272, the OFS would be valued at approximately Rs 1,489.64 crore. Investors can bid for a maximum of 55 equity shares and in multiples of 55 shares thereafter. The IPO allocation has been divided as follows: 75% for qualified institutional buyers (QIB), 15% for non-institutional investors, and 10% for retail investors.
The PE ratio, based on the diluted EPS for 2023, at the upper range of the price band is 680x, compared to the average industry peer group of 46.13x. In the IPO, promoter Go Digit Infoworks and other existing shareholders are offloading stakes, while Kohli and Sharma will remain investors.
