The International Gemmological Institute (IGI) is set to launch its highly anticipated Initial Public Offering (IPO) on December 13, 2024, aiming to raise ₹4,225 crore. With a strong global presence in diamond and gemstone certification, this IPO is poised to attract significant attention from retail and institutional investors. Let’s dive into the details of the IGI IPO, its price band, key dates, objectives, and more.
IGI IPO Key Highlights
IPO Size: ₹4,225 crore, comprising a fresh issue of ₹1,475 crore and an offer for sale (OFS) of ₹2,750 crore.
Price Band: ₹397 to ₹417 per share.
Minimum Investment: ₹14,595 for one lot (35 shares).
IPO Dates: Opens on December 13, 2024, and closes on December 17, 2024.
Listing: Shares will be listed on BSE and NSE on December 20, 2024.
Grey Market Premium (GMP)
As per the latest reports, IGI IPO shares are commanding a premium of ₹547 in the grey market, reflecting a GMP of ₹130 or 31.18% above the upper price band.
Subscription Details and Lot Size
Retail investors can apply for a minimum of 1 lot (35 shares) and up to 13 lots (455 shares) for an investment of ₹14,595 to ₹1,89,735.
For high-net-worth individuals (HNIs), the investment range starts from ₹2,04,330 (14 lots) to ₹10,07,055 (69 lots).
Important Dates for IGI IPO
Anchor Investor Bidding: December 12, 2024
IPO Open Date: December 13, 2024
IPO Close 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 IGI IPO
According to the Red Herring Prospectus (RHP), IGI aims to use the IPO proceeds for:
Acquisition Payment: Funding the purchase of IGI Belgium Group and IGI Netherlands Group for ₹1,300 crore.
General Corporate Purposes: Allocating remaining funds for operational efficiency and business expansion.
About IGI (International Gemmological Institute)
Founded in 1999, IGI is a trusted global leader in the certification of diamonds, gemstones, and jewelry. With 31 laboratories and 18 gemology schools worldwide, the company serves key markets in India, Europe, the US, and Asia.
Key Services Offered
Diamond Grading: Certification for natural and lab-grown diamonds based on the 4Cs (cut, color, clarity, and carat weight).
Colored Stone Evaluation: Grading rubies, sapphires, emeralds, and other gemstones.
Jewelry Assessment: Assessing the quality and authenticity of finished jewelry.
Educational Programs: Offering gemology courses to professionals and enthusiasts.
Financial Performance
IGI has shown robust financial growth over the years, making it a compelling investment opportunity.
Disclaimer -- This article does not provide any recommendation, investors are requested to consult there financial advisor before making any investment.