International Gemmological Institute IPO Opens December 13: Key Details

The initial public offering (IPO) of Blackstone-backed International Gemmological Institute (IGI) India Ltd. is set to launch on December 13, 2024, and will remain open for subscription until December 17, 2024. The IPO comprises a fresh issue of shares worth ₹1,475 crore and an offer for sale (OFS) worth ₹2,750 crore, making the total issue size ₹4,225 crore.

IPO Price Band & Lot Size

The IPO price band is set between ₹397 and ₹417 per share, with a face value of ₹2 per share. Retail investors can bid for a minimum lot size of 35 shares, requiring a minimum investment of ₹14,595. Higher bids can go up to 455 shares for ₹1,89,735, while non-institutional investors can apply for larger lots.

Timeline & Allotment

The IPO bidding period for International Gemmological Institute (India) Ltd. is scheduled from December 13 to December 17, 2024, with the allotment of shares expected to be finalized on December 18, 2024. The shares are set to list on the BSE and NSE on December 20, 2024.

Use of Proceeds

Net proceeds from the IPO will primarily fund the ₹1,100 crore acquisition of IGI Belgium and IGI Netherlands. The remaining funds will be allocated for general corporate purposes.

Financial Performance 

As of September 30, 2024, International Gemmological Institute (India) Ltd. reported revenue of ₹619.49 crore, with a profit after tax (PAT) of ₹326.06 crore and total assets amounting to ₹775.60 crore. The company operates a global network of 31 laboratories and 18 gemology schools, offering multiple certification and educational services.

All in all, the International Gemmological Institute IPO is one of the key offerings in December 2024. Investors can evaluate the financials, IPO pricing, and market demand before deciding on participation.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.