IGI IPO Day 1 Live Updates: Key Highlights, Subscription Status, and Insights
Blackstone-backed International Gemological Insititute (India) Ltd (IGI) has come up with its IPO. The subscription has started today, 13th December 2024.
IGI IPO Details
- IGI IPO Dates: The IPO opens on December 13, 2024, and closes on December 17, 2024.
- Price Band: The price band is decided to be ₹397-₹417 per share.
- Lot Size: 35 shares per lot.
- Total Issue Size: IGI IPO is a book-built issue of Rs 4,225.00 crores. The issue is a combination of a fresh issue of 3.54 crore shares aggregating to Rs 1,475.00 crores and an offer for sale of 6.59 crore shares aggregating to Rs 2,750.00 crores
- Allotment status: The allotment for the International Gemological Institute IPO is expected to be finalized on Wednesday, December 18, 2024.
- Market Listing: The shares will be listed on both BSE and NSE, tentatively on December 20, 2024.
- Anchor Investors: The IPO has raised ₹1,900 crore through anchor investments from marquee investors like the Government of Singapore, the Monetary Authority of Singapore, Nomura, and domestic institutions like ICICI Prudential and SBI Mutual Funds.
IGI IPO Day 1 Subscription Status
(December 13, 2024, 11:18 AM)
By 11:18 AM on day 1 of bidding, the book build issue had been subscribed 0.04 times.
- The Non-Institutional Investors (NIIs) subscribed to 0.03 times their allotted quota.
- The Retail Investors segment subscriptions have reached 0.19 times their allocation.
Utilization of IPO Proceeds
- Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter; and
- General corporate purposes
Shareholding Pre & Post Issue
|
Shareholding |
% |
|
Shareholding Pre Issue |
100 |
|
Shareholding Post Issue |
76.55 |
International Gemological Institute India Business Overview
IGI, established in 1975 in Belgium, is a leading provider of certification and accreditation services for diamonds, studded jewellery, and coloured stones. It holds a 33% global market share in certification services and dominates the laboratory-grown diamond segment with a 65% market share. The company operates 31 labs across 10 countries, including major markets such as India, the USA, Belgium, and China.
Incorporated in February 1999, International Gemmological Institute (India) Limited is a globally recognized organization certifying and grading diamonds, gemstones, and jewellery.
IGI provides independent grading reports that analyze and certify the characteristics of stones using internationally recognized standards. These reports include details about the stone's colour, cut, clarity, and carat weight.
As of September 30, 2024, the company has a network of 20 laboratories and 9 schools under the Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other professionals in research, education, and certification processes.
As of September 30, 2024, IGI's certification business operates through 31 branches and laboratories in 10 countries, including key markets like Surat and Mumbai in India, Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai.
International Gemological Institute India Financials
IGI India Ltd has seen a steady growth in revenue profits and Net Worth
- Revenues have increased from 499.33 Cr for the period ending December 2022 to 648.66 Cr for the period ending December 2023, registering a healthy growth of 29.90 %.
- Profits have increased from 241.76 Cr in Dec 2022 to 324.74 Cr in Dec 2023, registering a healthy growth of 34.32%.
- Networth has increased from 339.07 Cr in Dec 2022 to 509.01 Cr in Dec 2023, registering a healthy growth of 50.11%.
- Revenue, profit, and net worth for the period ended September 2024 were 619.49 Cr, 326.06 Cr, and 643.41 Cr, respectively.