The International Gemological Institute (IGI) has announced its plans to launch an initial public offering (IPO) on December 13, 2024. The IPO will remain open until December 17, 2024, with listing expected on BSE and NSE on December 20, 2024. The basis of allotment will be finalized by December 18, 2024.
Key Highlights of the IPO:
Objective:
The IPO aims to raise approximately ₹4,225.00 crores, comprising:
- A fresh issue of ₹1,475.00 crores.
- An offer for sale of up to 65,947,242 equity shares.
The proceeds will be allocated for:
- Acquiring IGI Belgium Group and IGI Netherlands Group from the promoter.
- General corporate purposes.
Price Details:
- Price Band: ₹397 to ₹417 per share.
Investor Quotas:
- Retail Investors: 10% of the issue.
- Qualified Institutional Buyers (QIBs): 75%.
- High Net Worth Individuals (HNIs): 15%.
Application Details:
- Minimum Bid: 35 shares, requiring an investment of ₹14,595.
- Maximum for Retail Investors: 13 lots (455 shares), totaling ₹189,735.
About IGI:
- Established in 1975 in Antwerp, Belgium.
- The second-largest diamond certification and accreditation provider globally.
- Specializes in grading natural and lab-grown diamonds by cut, color, clarity, carat weight, fluorescence, and symmetry.
- Dominates the Indian market, holding a 50% share in 2023.
Important Dates:
| Event | Date |
|---|---|
| IPO Opens | December 13, 2024 |
| IPO Closes | December 17, 2024 |
| Allotment Date | December 18, 2024 |
| Refunds Initiated | December 19, 2024 |
| Demat Credit | December 19, 2024 |
| Listing Date | December 20, 2024 |
The International Gemological Institute (IGI) has showcased robust financial growth, consistently delivering strong performance across key metrics. Between December 2022 and December 2023, IGI’s revenue climbed from ₹499.33 crores to ₹648.66 crores, reflecting substantial growth. Similarly, profit after tax surged from ₹241.76 crores to ₹324.74 crores during the same period.
This positive momentum persisted into the following year, with revenue reaching ₹619.49 crores and profit after tax rising to ₹326.06 crores by September 2024. These impressive figures underscore IGI’s steady growth trajectory and its capacity to achieve sustained revenue and profit increases over time.
