International Gemmological Institute IPO opens on Dec 13: From price band to lot size, key details you should know

International Gemmological Institute IPO: Blackstone-backed International Gemmological Institute's initial public offering (IPO) will open for public subscription on December 13 and close on December 17. The price band has been set at ₹397-₹417 apiece.

The ₹4,225 crore book-built issue is a fresh issuance of ₹1,475 crore and an offer-for-sale (OFS) of ₹2,750 crore by Blackstone's affiliate BCP Asia II TopCo Pte Ltd.

Funds to the tune of ₹1,300 crore will be used to acquire IGI Netherlands Group and IGI Belgium Group from the promoter. A portion will also be used for general corporate purposes.

Bidding for anchor investors will be open for one day on December 12.

International Gemmological Institute IPO: Lot size

An investor can bid for a minimum of 35 shares worth ₹14,595 and in multiples after that.

The company has reserved 75% of the net offer for qualified institutional buyers (QIBs), 10% for retail investors, and the remaining 15% for non-institutional investors (NIIs).

International Gemmological Institute IPO: Listing and allotment date

After the subscription periods, basis of allotment for the International Gemmological Institute IPO will likely be finalised on December 18. The shares will be listed on the NSE, BSE on December 20.

Kotak Mahindra Capital Company, Axis Capital, SBI Capital Markets, and Morgan Stanley India Company are the issue's book-running lead managers, while Kfin Technologies is the issue's registrar.

About the company

International Gemmological Institute provides services related to the certification of natural and lab-grown diamonds, coloured stones, and studded jewellery and offers an education program.

It offers services such as comprehensive diamond grading, grading and assessment of finished jewellery pieces, evaluating the quality and authenticity of coloured stones, and conducting educational courses and programs.

After the acquisition of IGI Netherlands Group and IGI Belgium Group, the company will become a key certifier in the global market.

According to Redseer Report, International Gemmological Institute is India's largest independent certification and accreditation services provider, holding a market share of around 50% for the calendar year 2023.