ICICI MF Buys Nearly 1% Stake in Go Digit General Insurance for Rs 139 Cr

New Delhi: ICICI Prudential Mutual Fund has bought about a 1 per cent stake in Go Digit General Insurance from venture capital firm Peak XV Partners for Rs 139 crore, according to the block deal data on the NSE.

Following the stake buy, shares of Go Digit General Insurance on Thursday rose more than 1 per cent to trade at Rs 256.05 apiece on the National Stock Exchange (NSE).

ICICI Prudential Mutual Fund (MF) purchased 57,21,378 shares, representing a 0.62 per cent stake in Go Digit General Insurance Ltd.

The transaction was executed on Wednesday at an average price of Rs 243 apiece, taking the deal size to Rs 139.03 crore, as per the data.

Meanwhile, US-based Peak XV, through its affiliate Peak XV Partners Growth Investments III, sold an equal number of shares at the same price.

The Competition Commission of India on Tuesday approved the proposed amalgamation of Go Digit Infoworks Services Pvt Ltd with Go Digit General Insurance.

Last month, Peak XV Partners offloaded more than 33.3 lakh shares of Go Digit General Insurance for Rs 100 crore.

Go Digit General Insurance provides various general and health insurance products and services in India, with a specialised focus on general insurance.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)