The initial public offering (IPO) of the International Gemological Institute (IGI), a global leader in diamond and jewelry certification, opened today. The company aims to raise ₹4,225 crore through this IPO. Investors can place bids until December 17, with the company’s shares set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 20.
IPO Details
The IPO comprises an offer-for-sale (OFS) of 65,947,242 shares worth ₹2,750 crore by existing investors and a fresh issuance of 35,371,702 shares to raise ₹1,475 crore. The price band for the IPO is fixed at ₹397 to ₹417 per share.
Minimum Investment
- Minimum Bid Size: 1 lot = 35 shares.
- Minimum Investment Amount: ₹14,595 (at the upper price band of ₹417).
- Maximum Retail Investment: Retail investors can bid for up to 13 lots (455 shares), requiring a total investment of ₹189,735.
Reserved Quota
- 75% of the IPO is reserved for Qualified Institutional Buyers (QIBs).
- 15% is allocated for Non-Institutional Investors (NIIs).
- 10% is reserved for retail investors.
About IGI
Established in February 2019, IGI specializes in certifying and grading diamonds, gemstones, and jewelry. Its detailed reports provide insights into a gem’s color, cut, clarity, and carat weight. The company also operates 18 gemology schools worldwide, offering certification programs to thousands of students annually. IGI is recognized as the second-largest independent certification entity in the diamond and jewelry industry globally.
What is an IPO?
An Initial Public Offering (IPO) is the process through which a company offers its shares to the public for the first time. Companies use IPOs to raise funds for business expansion, debt repayment, or other projects, providing an opportunity for investors to own a stake in the business.
