Upcoming IPO: International Gemmological Institute To Open Rs 4,225 Crore Public Issue; Check Details

The International Gemmological Institute (IGI), a leader in diamond and gemstone certification, is all set to launch its much-anticipated Initial Public Offering (IPO) on Friday, December 13, 2024. The IPO aims to raise Rs 4,225 crore, comprising a fresh issue of Rs 1,475 crore and an Offer for Sale (OFS) worth Rs 2,750 crore.

Key Highlights of the IGI IPO

Price Band and Lot Size

The IPO price band is set at Rs 397 to Rs 417 per share. Investors can bid for a minimum of 35 shares, amounting to Rs 14,595 at the upper price band. Retail investors can purchase up to 13 lots, equivalent to 455 shares, with a maximum investment of Rs 1,89,735.

Important Dates to Remember:

Opening Date: December 13, 2024
Closing Date: December 17, 2024
Basis of Allotment Finalization: December 18, 2024
Credit of Shares to Demat Accounts: December 19, 2024
Listing Date: December 20, 2024

Objectives of the IPO

The proceeds from the fresh issue will be utilized to fund key strategic initiatives, including acquiring IGI Belgium Group and IGI Netherlands Group for Rs 1,300 crore and meeting general corporate expenses. The proceeds from the OFS will directly benefit the selling shareholders, adding liquidity to their investments.

Lead Managers and Registrar

KFin Technologies has been appointed as the registrar for this IPO. The lead managers include some of the most reputed financial institutions, such as Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets.

About International Gemmological Institute (IGI)

Established in 1999, IGI has emerged as a trusted name in the gemology and jewellery industry. The company operates 31 laboratories worldwide and offers comprehensive certification services for diamonds, gemstones, and jewellery. Additionally, IGI provides educational programs in gemology, equipping professionals with essential skills in the industry. IGI's global footprint spans India, Europe, the US, and Asia, highlighting its extensive reach and credibility.

IGI's IPO comes at a time of growing demand for transparency and certification in the jewellery industry. By leveraging the IPO proceeds, the company aims to strengthen its international operations, expand its certification capabilities, and enhance its market leadership.