Upcoming IPO: The International Gemmological Institute (IGI) IPO is set to open for public subscription on Friday, December 13, 2024. The company plans to raise up to ₹4,225 crore through the offering. The IPO includes a fresh issue of ₹1,475 crore and an Offer for Sale (OFS) of ₹2,750 crore.
Here are the key things to know about International Gemmological Institute IPO, asper the company in its Red Herring Prospectus (RHP):
Price band, lot size
The price band is set at ₹397 to ₹417 per share. Investors must bid for a minimum of 35 shares, which amounts to an investment of ₹14,595 at the upper price band. Retail investors can apply for up to 13 lots (455 shares) with a maximum investment of ₹1,89,735.
Key dates
IPO opening date: December 13, 2024
IPO closing date: December 17, 2024
Basis of allotment finalization: December 18, 2024
Share credit to demat accounts: December 19, 2024
Listing date: December 20, 2024
IPO objectives
The company aims to use proceeds from the fresh issue to:
Fund the acquisition of IGI Belgium Group and IGI Netherlands Group for 1,300 crore.
Cover general corporate expenses.
The OFS proceeds will go to selling shareholders.
Registrar and lead managers
KFin Technologies is the registrar for the IPO. Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets are the lead managers.
About International Gemmological Institute
IGI is a leading certification body for diamonds, gemstones, and jewellery. Established in 1999, the company operates 31 laboratories worldwide and offers educational programs in gemology. It has a broad market presence in India, Europe, the US, and Asia.
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