We’re soon likely to have another entry into the pantheon of public insurtechs. Founded by Kamesh Goyal, India-based Digit Insurance has announced that it plans to raise $440 million through an IPO to build up its presence in the general insurance market. While this has been in the public domain for a while, the papers were filed a few weeks ago. Current shareholders will sell up to 109.4 million shares while there will be a new issue of shares worth around $158 million. They’ll likely use the extra cash to shore up its balance sheet and cash reserves. 

Source: Reuters

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