India, May 10 -- Insurance tech unicorn Digit Insurance has set a price band in the range of INR 258 to INR 272 per equity share for its upcoming initial public offering (IPO), which is opening for bids next Wednesday (May 15).

At the upper price band, the startup is expected to raise a total of INR 2,614.6 Cr. Digit Insurance's IPO comprises a fresh issue of shares worth INR 1,125 Cr and an offer for sale (OFS) component of 5.47 Cr shares.

Digit Insurance has reserved 75% of the shares in the public issue for qualified institutional buyers (QIBs), 15% for non-institutional institutional investors (NIIs), and 10% for retail investors.

The bids for its IPO will close on May 17 and the company is eyeing to get listed on the BSE and NSE b...