Robust Debut! International Gemmological shares list at ₹510 on NSE, up 22.3% from IPO price

International Gemmological Institute (India) IPO listing: International Gemmological shares made a strong debut on Friday, December 20 as they listed at ₹510 on NSE, a premium of 22.3 percent over the issue price of ₹417. Meanwhile, on BSE, it listed at ₹504.85, up 21.07 percent from IPO price.

International Gemmological's initial public offering (IPO), valued at ₹4,225 crore, was open for subscription from December 13 to December 17. The International Gemmological IPO price band stood at ₹397-417 per equity share.

Following the three days of bidding, International Gemmological IPO closed with strong demand, garnering 35.48 times bids. The IPO received bids for 197.83 crore shares against 5.57 crore shares on offer. The retail investor segment was booked 11.77 times, while the non-institutional investors (NII) category was subscribed 26.09 times. Meanwhile, The qualified institutional buyers (QIB) portion was bid 48.11 times. The Employees portion was bid 21.79 times

About the IPO

International Gemmological IPO was combination of fresh issue of 3.54 crore shares aggregating to ₹1,475.00 crores and offer for sale of 6.59 crore shares aggregating to ₹2,750.00 crores. Post the issue, promoter shareholding in the company will reduce to 76.55 percent from 100 percent before the IPO. The company raised ₹1,900.35crore from anchor investors on December 12, 2024. Retail investors could apply with a minimum lot size of 35 shares, requiring a minimum investment of ₹14,595.

The company intends to use the net proceeds to fund the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter, along with supporting general corporate purposes.

International Gemmological IPO reserved not more than 30% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10 % of the offer is reserved for retail investors.

Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, SBI Capital Markets Limited are the book running lead managers of the International Gemmological IPO, while Kfin Technologies Limited is the registrar for the issue.

About the Company

Established in February 1999, International Gemmological Institute (India) Limited is a globally renowned organization specializing in the certification and grading of diamonds, gemstones, and jewellery. IGI provides independent grading reports that evaluate and certify the attributes of stones, including their colour, cut, clarity, and carat weight, adhering to internationally accepted standards. Beyond certification, IGI offers educational courses and degree programs tailored for the gem and jewellery trade, supported by a dedicated research department. With a global presence, the institute operates 31 laboratories for grading finished jewellery, natural and lab-grown diamonds, and gemstones, along with 18 gemology schools that educate thousands of students annually. The company's service portfolio encompasses a wide range of offerings.