India's markets regulator will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance
SEBI will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance issues that had led to the regulator putting the process on hold, two sources told Reuters on Friday.
Digit Insurance valued at $3.5 billion, raises $200 million
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Digit Insurance valued at $3.5 billion, raises $200 million
Mayur Shetty / TNN / Updated: Jul 3, 2021, 10:08 IST
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MUMBAI: Canadian billionaire Prem Watsa-backed Digit Insurance has achieved a valuation of $3.5 billion with its latest fundraising round of $200 million from existing investor Faering Capital and some new ones like Sequoia Capital India and IIFL Alternate Asset Managers. The investment is subject to regulatory approvals.
With this round of funding, the total capital infusion into Digit has crossed Rs 3,000 crore the highest for any non-life company in India. The fundraising follows a 44% growth in premium to Rs 3,243 crore. Insurance companies need to set aside capital for solvency in proportion to the business they write.