International Gemological Institute IPO

International Gemological Institute (IGI) is a provider of services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones, both in India and in international markets. It also offers educational programs in this area. IGI is a portfolio company of US-based Blackstone Group, the world’s largest alternate asset manager with assets under management (AUM) of $1,107.63 billion as of September 30, 2024. IGI plans to spend Rs 1,100 crore from IPO proceeds for the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter BCP Asia II TopCo Pte Ltd, and the remaining funds for general corporate purposes. IGI’s operations began in Belgium in 1975 when it established IGI Belgium. As of September 30, 2024, IGI had a global network of 31 branches that are equipped with IGI laboratories across 10 countries and 18 schools of gemology across 6 countries. As of the same date, IGI had over 7,500 customers located across 10 countries. In CY2023, IGI India was the largest independent certification and accreditation services provider in India, with a market share of about 50%. Globally, it is the second-largest independent certification and accreditation services provider based on revenue for CY2023, with a global market share of about 33%. The company’s ability to attract and retain talent has been key to its market position in the diamonds, studded jewellery and coloured stones industry in India. Its network of 20 laboratories and 9 schools is supported by 843 employees, including 316 gemologists and other professionals in research, education, and certification processes as of September 30, 2024. India is the world’s largest centre for cutting and polishing diamonds. It accounted for about 95% of the world’s total polished diamonds in volume terms in CY2023.;