Digit Insurance IPO put on hold by regulator

The IPO would have seen $160m raised for the insurer.

The Securities and Exchange Board of India has put on hold Digit Insurance’s initial public offering.

A regulatory document said that the IPO has been kept in "abeyance" and certain observations have been issued.

In August, Indian insurer Digit Insurance filed for an IPO to raise more than $160m. 

Founded in 2017, Digit Insurance is backed by Canadian billionaire Prem Watsa's Fairfax Group.