The International Gemmological Institute (India), supported by Blackstone, is preparing for its initial public offering (IPO) on December 13. The company aims to raise ₹4,225 crore, combining a fresh issue of ₹1,475 crore and an offer-for-sale (OFS) worth ₹2,750 crore by its promoter, BCP Asia II TopCo Pte. The price band for the IPO will be announced on December 9.
The anchor book for the issue will open on December 12, while the subscription window will close on December 17. The shares are set to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 20. The company has allocated ₹2 crore worth of shares specifically for its employees, making the IPO an attractive opportunity for its workforce. The remaining shares will be divided among institutional and retail investors, with 75% reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 10% for retail investors.
IGI would use ₹1,300 crore of the fresh issue proceeds for acquiring IGI Belgium Group and IGI Netherlands Group from the promoter. The balance will go to general corporate purposes. Funds mobilised through OFS would directly go to the promoter.
Headquartered in Mumbai, IGI specializes in certification and accreditation of natural diamonds, lab-grown diamonds, studded jewellery, and coloured stones. Besides that, the company provides education programs in gemmology, further strengthening its position as a leader in the gems and jewellery sector. This IPO is one of the major steps taken by IGI in scaling up its global footprint, apart from capturing investor interest in India’s growing jewelry market.
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Source: Moneycontrol
News Desk
