International Gemmological Institute (India) IPO - key things to know about upcoming IPO from RHP

Upcoming IPO: The International Gemmological Institute (IGI) IPO is set to open for public subscription on Friday, December 13, 2024. The company plans to raise up to ₹4,225 crore through the offering. The IPO includes a fresh issue of ₹1,475 crore and an Offer for Sale (OFS) of ₹2,750 crore.

Here are the key things to know about International Gemmological Institute IPO, asper the company in its Red Herring Prospectus (RHP):

Price band, lot size

The price band is set at ₹397 to ₹417 per share. Investors must bid for a minimum of 35 shares, which amounts to an investment of ₹14,595 at the upper price band. Retail investors can apply for up to 13 lots (455 shares) with a maximum investment of ₹1,89,735.

Key dates

IPO opening date: December 13, 2024

IPO closing date: December 17, 2024

Basis of allotment finalization: December 18, 2024

Share credit to demat accounts: December 19, 2024

Listing date: December 20, 2024

IPO objectives

The company aims to use proceeds from the fresh issue to:

Fund the acquisition of IGI Belgium Group and IGI Netherlands Group for 1,300 crore.

Cover general corporate expenses.

The OFS proceeds will go to selling shareholders.

Registrar and lead managers

KFin Technologies is the registrar for the IPO. Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets are the lead managers.

About International Gemmological Institute

IGI is a leading certification body for diamonds, gemstones, and jewellery. Established in 1999, the company operates 31 laboratories worldwide and offers educational programs in gemology. It has a broad market presence in India, Europe, the US, and Asia.

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