Insurtech company Go Digit has made a strategic investment of ₹30 crore in pharmaceutical giant Dr. Reddy’s Laboratories, securing a 0.32% stake in the company.
“The investment in shares is being made in the ordinary course of the investment function of the company,” Go Digit stated in a regulatory filing.
Dr. Reddy’s: A Leading Name in Pharmaceuticals
Established in 1984 by Kallam Anji Reddy, Dr. Reddy’s Laboratories is a prominent Indian multinational pharmaceutical company known for manufacturing and marketing affordable medicines. The company offers a diverse portfolio that includes active pharmaceutical ingredients (APIs), custom pharmaceutical services (CPS), generics, biosimilars, and differentiated formulations.
Go Digit’s Expanding Market Presence
Founded in 2017 by Kamesh Goyal, Go Digit is a full-stack digital insurance company offering non-life insurance policies across various sectors, including motor, health, travel, and property.
The company has witnessed remarkable financial growth, with its profit after tax (PAT) surging 176.46% year-on-year (YoY) to ₹118.52 crore in Q3 FY25. This growth has been attributed to steady revenue expansion and controlled operating expenses. As of December 31, 2024, Go Digit’s assets under management (AUM) stood at ₹18,939 crore.
Competing with key industry players such as Acko, ICICI Lombard, Bajaj Allianz, and Tata AIG, Go Digit continues to strengthen its position in the insurtech space while exploring investment opportunities beyond the insurance sector.
