Editor’s Note
The Blackstone-backed International Gemological Institute (India) Ltd (IGI) has launched its initial public offering (IPO), with the subscription period opening today, December 13, 2024.
Blackstone-backed International Gemological Institute (India) Ltd (IGI) has launched its IPO. The subscription started today, December 13, 2024.
The IPO opens on December 13, 2024, and closes on December 17, 2024.
The price band is set at ₹397-₹417 per share.
35 shares per lot.
The IGI IPO is a book-built issue of Rs 4,225.00 crores. The issue comprises a fresh issue of 3.54 crore shares aggregating to Rs 1,475.00 crores and an offer for sale of 6.59 crore shares aggregating to Rs 2,750.00 crores.
The allotment for the International Gemological Institute IPO is expected to be finalized on Wednesday, December 18, 2024.
The shares will be listed on both BSE and NSE, tentatively on December 20, 2024.
The IPO has raised ₹1,900 crore through anchor investments from marquee investors like the Government of Singapore, the Monetary Authority of Singapore, Nomura, and domestic institutions like ICICI Prudential and SBI Mutual Funds.
The Retail Investors segment subscriptions have reached 0.19 times their allocation.
Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter; and
General corporate purposes.
Shareholding Pre Issue: 100%
Shareholding Post Issue: 76.55%
IGI, established in 1975 in Belgium, is a leading provider of certification and accreditation services for diamonds, studded jewellery, and coloured stones. It holds a 33% global market share in certification services and dominates the laboratory-grown diamond segment with a 65% market share. The company operates 31 labs across 10 countries, including major markets such as India, the USA, Belgium, and China.
Incorporated in February 1999, International Gemmological Institute (India) Limited is a globally recognized organization certifying and grading diamonds, gemstones, and jewellery.
IGI provides independent grading reports that analyze and certify the characteristics of stones using internationally recognized standards. These reports include details about the stone’s colour, cut, clarity, and carat weight.
As of September 30, 2024, the company has a network of 20 laboratories and 9 schools under the Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other professionals in research, education, and certification processes.
As of September 30, 2024, IGI’s certification business operates through 31 branches and laboratories in 10 countries, including key markets like Surat and Mumbai in India, Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai.
IGI India Ltd has seen steady growth in revenue, profits, and Net Worth.
Revenues increased from 499.33 Cr for the period ending December 2022 to 648.66 Cr for the period ending December 2023, registering a healthy growth of 29.90%.
Profits increased from 241.76 Cr in Dec 2022 to 324.74 Cr in Dec 2023, registering a healthy growth of 34.32%.
Net worth increased from 339.07 Cr in Dec 2022 to 509.01 Cr in Dec 2023, registering a healthy growth of 50.11%.
Revenue, profit, and net worth for the period ended September 2024 were 619.49 Cr, 326.06 Cr, and 643.41 Cr, respectively.