Backed by Blackstone, the International Gemmological Institute (India) Ltd started its ₹4,225-crore Initial Public Offering on December 13 and closed on December 17. IGI has an estimated market capitalization at a range of ₹397-₹417 per share of ₹18,000 crore above that threshold price at the higher end.
The company is a global leader in the certification of natural diamonds, laboratory-grown diamonds, studded jewelry, and colored stones, holding a 33% market share worldwide (as per Redseer). IGI is the second-largest independent certification provider globally in terms of revenue for CY2023.
IGI IPO Subscription Status (As of Day 2)
Overall Subscription: 30%
Retail Investors: Subscribed 1.16 times
Non-Institutional Investors (NII): Subscribed 30%
Qualified Institutional Buyers (QIBs): Yet to book
Employee Allocation: Subscribed 3.81 times
IGI IPO Information
Proceeds to Be Used:
I.G. Insurance Belgium Group acquisition along with I.G. Netherlands Group
General corporate purposes
Key Players Involved,
Book Running Lead Managers – Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, SBI Capital
Registrar: Kfin Technologies
IGI IPO GMP (Grey Market Premium)
GMP today :₹95
Expected listing price: ₹512 per share
Premium above IPO price: 22.78%
The grey market premium suggests strong investor confidence, with shares trading at a ₹95 premium, indicating demand beyond the issue price.
Why IGI IPO Is Significant
Global Leadership: IGI’s strong market position and reputation in diamond certification make it a preferred choice for investors.
Robust Revenue Base: IGI’s scale and market share globally highlight its dominance in the certification industry.
Backed by Blackstone: The IPO is financially well-backed with a globally repute private equity firm stakeholder.
Attractive Grey Market Activity: With a listing gain of +22.78%, investors.
Disclaimer: The opinions and investment advice provided by Finaffair experts are their own and do not reflect the views of the website or its management. Finaffair encourages users to consult qualified professionals before making any investment decisions.
