International Gemmological Institute (IGI) India Ltd has announced a price band of ₹397-₹417 per share for its highly anticipated initial public offering (IPO). The company aims to raise ₹4,225 crore through this IPO, which will open for subscription on December 13 and close on December 17.
Anchor bidding will commence on December 12, with the allotment of shares finalized by December 18. Refunds and credit of shares to successful bidders will take place by December 19, and the company’s stock is set to debut on the exchanges on December 20.
The IPO consists of a fresh issue worth ₹1,475 crore and an offer for sale (OFS) amounting to ₹2,750 crore by BCP Asia II TopCo Pte Ltd, the promoter of the company. At the upper price band of ₹417 per share, IGI’s total market capitalization is estimated to reach approximately ₹16,545 crore.
Out of the fresh issue proceeds, ₹1,324.46 crore shall be utilized for purchasing IGI Belgium Group and IGI Netherlands Group from the promoter BCP Asia II TopCo. These groups manage IGI’s operations outside India and Türkiye, extending the brand’s global reach.
IGI is the only leader in Diamond and Jewellery certification provider in India, accounting for or exceeding an estimated 50% market share of the aggregate volumes of natural diamond, synthetic diamond, and coloured stone certification. These include other related initiatives such as educational programs about Gemmology that further establish the position that the company maintains as certification provider in India.
Currently, it operates the largest laboratory network in India among its global peers, with a total of 19 labs across the country and one in Türkiye, dedicated solely to the grading of laboratory-grown diamonds.
IGI India reported revenues of ₹788.16 crore for the nine months to September 2024, against ₹898.01 crore in the same period last year. The net profit stood at ₹316.83 crore, against ₹330.85 crore in the same period last year.
This IPO marks a significant milestone for IGI India as it aims to strengthen its presence in the Indian and international gemmology market.
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Source: Moneycontrol
News Desk
