International Gemmological Institute share price rises ahead of earnings announcement

The stock climbed 0.91% to ₹399.35 apiece on the National Stock Exchange (NSE) at 9:26 am. Its market capitalisation stood at ₹17,258.30 crore.

"International Gemmological Institute (India) Limited has informed the Exchange about Board Meeting to be held on 28-Feb-2025 to inter-alia consider and approve the Audited Financial results of the Company for the Yearly ended December 2024," the company said in an exchange filing.

International Gemmological Institute (IGI) shares made their market debut on December 20 at ₹510 a unit on the NSE, a premium of 22.3% over the issue price of ₹417 per unit. It listed at 21.07% on the BSE.

The stock is currently down 21.56% from its listing price. It hit its all-time low of ₹394.75 per share on February 7 and recorded a 52-week high of 642.30 apiece on January 9.

The ₹4,225 crore IGI IPO received a 33.78-time subscription. The qualified institutional buyers (QIBs) portion was subscribed 45.80 times, while the non-institutional investors quota was booked 24.84 times. The retail investors part received 11.21 times the subscription.

The initial public offer was ₹1,475 crore worth of fresh issuance of shares and an offer for sale (OFS) component valued at ₹2,750 crore by promoter BCP Asia II TopCo private limited company, which is an affiliate of Blackstone.

Established in 1999, the International Gemmological Institute specialises in the certification and grading of diamonds, gemstones, and jewellery. It provides independent grading reports on internationally recognised standards, such as evaluating key characteristics like cut, colour, carat weight, and clarity.