Given a slew of regulatory hurdles and its complicated shareholding structure, the Fairfax-backed insurer has unfinished business before it can hit the bourses.
Digit Insurance is set to refile its draft red herring prospectus this month, according to three industry executives, who asked not to be named. Additionally, the board of the general insurance company is set to meet in the coming days to either restructure or nullify the stock appreciation rights issued to its employees late last year, says the first executive.
In November and December, in two separate allotments, Go Digit General Insurance Ltd issued stock appreciation rights to about a dozen employees, including CEO Jasleen Kohli, who was chief distribution officer until April last year. Stock appreciation rights allow eligible …
Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.
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ashwin@mailtmc.com
Delhi