India, May 9 -- The initial public offering (IPO) of the insurance tech unicorn Digit Insurance is set to open next week on May 15 and close on May 17. As per the red herring prospectus (RHP) filed by the company, the anchor bidding for its IPO is starting on May 14.

Digit Insurance's RHP shows that the startup's IPO now comprises a fresh issue of shares worth INR 1,125 Cr and an offer for sale (OFS) component of INR 5.47 Cr.

It is pertinent to note that the insurtech company has reduced its IPO size significantly. Earlier, as per its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), the IPO comprised a fresh issue worth INR 1,250 Cr and an OFS component of 10.94 Cr equity shares.

The Fairfax a...