International Gemological Institute IPO Opens Today: Invest in the Diamond and Jewelry Certification Giant

The International Gemological Institute (IGI), a leading company that certifies diamonds and jewelry, has opened its Initial Public Offering (IPO) today. Investors can place their bids for the IPO until December 17, with the shares expected to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 20.

Company’s IPO Details

Through this IPO, IGI aims to raise ₹4,225 crore. The current investors are offering ₹2,750 crore worth of shares, amounting to 65,947,242 shares. Additionally, the company plans to issue ₹1,475 crore worth of 35,371,702 fresh shares to the public.

Investment Range: Minimum and Maximum Investment

The price band for IGI’s IPO has been set between ₹397 to ₹417 per share. Retail investors can bid for a minimum of one lot (35 shares). At the upper price band of ₹417, investing in one lot will require an investment of ₹14,595.

The maximum investment a retail investor can make is for 13 lots (455 shares), which would cost ₹189,735 at the upper price band.

IPO Allocation

• 75% of the IPO is reserved for Qualified Institutional Buyers (QIBs).
• 10% is reserved for Retail Investors.
• The remaining 15% is reserved for Non-Institutional Investors (NIIs).

About IGI

Founded in February 2019, the International Gemological Institute (IGI) specializes in the certification and grading of diamonds, gemstones, and jewelry. Its reports include essential details such as the color, cut, clarity, and carat weight of stones. The company also offers gemology courses and runs a research department.

IGI operates 31 labs and has 18 gemology schools worldwide, graduating thousands of students each year. It is the world’s second-largest independent entity in diamond and jewelry certification, making it a key player in a high-barrier industry where entry for competitors is challenging.

What is an IPO?

An Initial Public Offering (IPO) is when a company offers its shares to the public for the first time. Companies use IPOs to raise capital for business expansion or other needs. Instead of borrowing money, they sell shares or issue new shares to the public, allowing investors to buy into the company.

For those looking to invest in the diamond and jewelry certification industry, IGI’s IPO presents an exciting opportunity.