Editor’s Note
This article highlights a significant rally in IGI India’s stock following its recent IPO and the strategic acquisition of two companies, underscoring strong investor confidence in its growth trajectory.
Shareholders of International Gemmological Institute India Ltd (IGI) received a major boost on Thursday. The company’s stock hit the 10% upper circuit. This surge followed a significant decision by the company. IGI recently had its IPO, which saw a bumper listing. After hitting the upper circuit on Thursday, its share price reached Rs 580.45. The International Gemmological Institute (IGI) has acquired two companies, leading to this rally in its shares.
The companies acquired are IGI Netherlands and International Gemmological Institute BV. IGI has acquired 100% of both companies.
Following these acquisitions, IGI Netherlands and International Gemmological Institute BV have become wholly-owned subsidiaries of the company.
Through its subsidiaries, IGI Netherlands’ primary business is to provide certification and authentication-related services for natural diamonds, lab-grown diamonds, jewelry, and colored stones. The company also conducts educational programs.
IGI’s IPO was recently listed on the stock market. It listed on the NSE at Rs 510, a premium of 22.3%, while on the BSE, it listed at Rs 505, a premium of 21.1%.
With this rally, IGI’s share has reached its all-time high. Previously, it had closed at Rs 527.70 on Tuesday. However, after the listing, the share had fallen to Rs 454.55, which is its low point.
