Go Digit IPO: Cross investments in similar businesses may be

Cross investments in a similar line of business could be one of the reasons for keeping the Virat Kohli-backed Go Digit General Insurance IPO in "abeyance" by capital markets regulator Securities Exchange Board of India (Sebi), according to an expert. The insurer filed a draft prospectus for its initial public offering (IPO) in August comprising a fresh issue of Rs 1,250 crore and an offer for sale (OFS) of more than 10.94 crore equity shares by selling shareholders, including Go Digit Infoworks Services, Nikita Mihir Vakharia (jointly with Mihir Atul Vakharia), Nikunj Hirendra Shah (jointly with Sohag Hirendra Shah) and Subramaniam Vasudevan (jointly with Shanti Subramaniam).

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