Fri Dec 13 07:23:06 UTC 2024: ## International Gemmological Institute (IGI) to Launch ₹4,225 Crore IPO

**Mumbai, December 9, 2024** – The International Gemmological Institute (IGI), the world’s second-largest independent diamond and jewelry certification entity, is set to launch its initial public offering (IPO) on December 13th, 2024. The IPO, valued at ₹4,225 crore, will offer shares in a price band of ₹397-₹417. Anchor investor bidding will commence on December 12th.

The IPO comprises a fresh issue of ₹1,475 crore and an offer for sale (OFS) of ₹2,750 crore by BCP Asia II TopCo. A significant portion of the fresh issue proceeds – ₹1,324.46 crore – will be utilized to acquire IGI Belgium Group and IGI Netherlands Group from promoters. These groups manage IGI’s international operations. The remaining funds will be used for general corporate purposes.

IGI, established in February 2019, certifies and grades diamonds, gemstones, and jewelry, providing detailed reports on color, cut, clarity, and carat weight. The company also offers gemology courses and boasts a robust research department. With a global presence spanning 31 laboratories and 18 gemology schools, IGI graduates thousands of students annually.

The company’s financial health has shown robust growth, with net profit increasing from ₹171.53 crore in FY22 to ₹241.76 crore in FY23 and ₹324.74 crore in FY24. Revenue grew at a CAGR of over 31% to reach ₹648.66 crore during the same period. The first half of FY25 (April-September 2024) saw a net profit of ₹326.06 crore and revenue of ₹619.49 crore.

The IPO will allocate 75% of shares to qualified institutional buyers (QIBs), 15% to non-institutional investors, and 10% to retail investors. Allotment is scheduled for December 18th, with listing on the BSE and NSE on December 20th. KFin Technologies is the registrar for the issue. While the grey market premium (GMP) is currently estimated at ₹105 (25.18% above the upper price band), market experts advise investors to base their decisions on the company’s fundamentals and financials rather than grey market indicators.

Read More