Tue Dec 17 04:29:07 UTC 2024: ## International Gemological Institute (IGI) IPO 72% Subscribed on Day Two

**New Delhi, December 16 (IANS):** The Initial Public Offering (IPO) of International Gemological Institute (India) Limited, a diamond industry company, received 72 percent subscription on its second day, Monday. According to NSE data, bids for 424,060,35 shares were received against the offered 585,609,02 shares. Retail individual investors showed strong interest with 2.44 times subscription, while the non-institutional investor category received 83 percent bids. The Qualified Institutional Buyers (QIB) segment had a lower subscription rate of 9 percent.

The Blackstone-backed IGI, which provides certification and valuation services for natural diamonds, lab-grown diamonds, mounted jewelry, and colored stones, raised ₹1,900 crore from anchor investors before the IPO opened on Friday. The IPO, priced between ₹397 and ₹417 per share, is set to close on December 17. The ₹4,225 crore IPO comprises a fresh equity issue of ₹1,475 crore and an offer for sale (OFS) of ₹2,750 crore.

Read More