Tue Dec 17 03:29:16 UTC 2024: ## IGI India IPO Opens, Attracts Strong Interest from Global and Domestic Investors

**Mumbai, December 13, 2024** – The Initial Public Offering (IPO) of International Gemmological Institute (IGI) India, a Blackstone-backed company, opened today for subscription. The IPO, which offers 4.55 crore equity shares at a price band of ₹415-₹440 per share, is scheduled to close on December 15th. The minimum investment for retail investors is ₹14,595 (35 shares).

IGI India had already garnered ₹1,900.34 crore from anchor investors, including prominent global names such as Government of Singapore, Monetary Authority of Singapore, Nomura Funds, Abu Dhabi Investment Authority, and several large domestic mutual funds and insurance companies. A significant portion of the anchor allotment (1.52 crore shares) went to nine domestic mutual funds investing through 33 schemes.

Bajaj Broking recommends a long-term investment approach, citing IGI’s strong reputation, global presence (including key markets in Surat and Mumbai, India), and extensive certification network spanning 20 labs, 9 schools, and 843 employees across 10 countries. The brokerage firm anticipates a potential listing price of ₹492 based on a current grey market premium (GMP) of ₹75, indicating a possible 17.99% gain.

The IPO’s allotment is expected on December 18th, with a potential listing on the BSE and NSE on December 20th. Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets are the book running lead managers, while KFin Technologies is the registrar.

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