Go Digit General Insurance Limited has informed the Exchange regarding Notice of Postal Ballot
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Go Digit General Insurance has issued a Postal Ballot Notice dated July 22, 2025, seeking shareholder approval to set up an IFSC Insurance Office (IIO) in GIFT International Finance Tec-City, Gujarat. The proposal involves establishing a unit in the International Financial Services Centre (IFSC), a special economic zone for financial services, to undertake general insurance and related businesses. The Board had earlier approved this move on October 24, 2024, and the application for IRDAI's no-objection certificate is also in process. The e-voting window runs from July 25, 2025 (9:00 AM) to August 23, 2025 (5:00 PM), with results to be announced by August 26, 2025. The IIO will allow the company to offer policies to NRIs, OCIs, PIOs, foreign nationals, SEZ/IFSC entities, and undertake inward reinsurance, while enjoying a 10-year income tax holiday under Section 80LA and GST exemptions on specified services.
This is a strategic expansion that could help Go Digit access tax-efficient growth avenues, diversify into cross-border and reinsurance segments, and tap NRI/foreign customer pools. For shareholders, it signals management's intent to leverage regulatory incentives in GIFT IFSC, though actual benefits depend on IRDAI approval and execution.