In today’s briefing:
- Go Digit General Insurance IPO – Growth Remains Strong, Valuation Isn’t Cheap
- TBO Tek IPO Trading – Has One of the Highest Subscription Rates so Far This Year
- Tata Motors – Earnings Flash – FY 2023-24 Results – Lucror Analytics
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Go Digit General Insurance IPO – Growth Remains Strong, Valuation Isn’t Cheap
- Go Digit General Insurance is looking to raise around US$315m in its India IPO.
- Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.
- We have looked at the company’s performance in our past note. In this note, we talk about the refiling updates and valuations.
TBO Tek IPO Trading – Has One of the Highest Subscription Rates so Far This Year
- TBO Tek (0395045D IN) raised around US$186m in its India IPO, after pricing the deal at the top end of the range at INR920/share.
- TBO Tek is a global travel distribution platform. Its two-sided technology platform serves companies involved in the travel industry such as hotels, airlines, travel agencies and travel management companies.
- We have looked at various aspects of the deal in our previous notes. In this note, we talk about demand and trading dynamics.
Tata Motors – Earnings Flash – FY 2023-24 Results – Lucror Analytics
Tata Motors’ Q4 and FY 2023-24 results were excellent in our view, with record high revenue and earnings. Net debt plunged by such a large amount that the Indian business has turned net cash, and the group remained on track to be overall net automotive debt free in FY 2024-25.