Go Digit stake sold by Peak XV to ICICI Prudential in ₹139 cr block deal

Venture capital firm Peak XV Partners offloaded 57.2 lakh shares of Go Digit General Insurance Ltd at ₹243 per share, raising about ₹139 cr. The block deal, executed at a 4.1% discount to the previous closing price, transferred roughly a 0.6% stake (about 1% of the company) to ICICI Prudential Mutual Fund, which saw its shareholding rise to just under 1%. Following the transaction, Go Digit shares gained more than 1% on the NSE.

The sale follows a June transaction in which Peak XV sold shares worth ₹100 cr. It also comes after the Competition Commission of India approved the amalgamation of Go Digit Infoworks Services Pvt Ltd with Go Digit General Insurance, making the latter the sole surviving entity. Go Digit, an Indian insurtech platform founded in 2017, has faced a recent share price decline and a tax demand notice, adding pressure to its financial performance.