The International Gemmological Institute (IGI) is all set to launch its Initial Public Offering (IPO) in India. The IPO will open on December 13, 2024, and will close on December 17, 2024. This ₹4,225 crore issue consists of both a fresh issue and an offer for sale (OFS) of shares. The price band for the IPO is set between ₹397 and ₹417 per share, offering investors an opportunity to invest in a leading global player in the gem and jewelry industry.
Key Details of the IGI IPO
- Issue Size: ₹4,225 crore
- Price Band: ₹397 to ₹417 per share
- Fresh Issue: ₹1,475 crore
- Offer for Sale (OFS): ₹2,750 crore
- IPO Dates: December 13 to December 17, 2024
- Minimum Order Quantity: 35 shares
- Bid Amount for Retail Investors: ₹14,595
About IGI
IGI is a well-known name in the world of diamonds, gemstones, and jewelry certification. The company is a global leader in providing grading services for diamonds and colored gemstones. It operates 31 laboratories worldwide and is trusted by both professionals and consumers in the gem and jewelry industry. IGI also offers education and training programs in gemology and diamond grading.
The IGI IPO will be divided into three categories:
- Qualified institutional buyers (QIBs) will receive 75% of the total allocation for this issue.
- 15% will be allocated to non-institutional investors (NIIs).
- 10% will be reserved for retail investors.
Retail investors can apply for the IPO in lots, with one lot consisting of 35 shares. At the upper price band of ₹417 per share, the minimum bid amount will be ₹14,595 for one lot.
Important Dates
- IPO Opening Date: December 13, 2024
- IPO Closing Date: December 17, 2024
- Share Allotment Date: December 18, 2024
- Shares Credit to Demat Accounts: December 19, 2024
- Listing Date: December 20, 2024
The grey market premium (GMP) is the unofficial market price of shares before they are officially listed. The GMP for the IGI IPO is currently ₹111 per share, which means the stock is expected to be listed at ₹528 (considering the upper price band of ₹417). This would indicate a listing gain of nearly 27% for investors.
Investors can apply for the IGI IPO through various platforms, including their bank accounts, stockbrokers, or online trading platforms. Retail investors need to apply for at least one lot, which consists of 35 shares, costing a minimum of ₹14,595. Investors should make sure they are ready with their Demat accounts and funds before applying.
The IGI IPO presents an interesting investment opportunity for those looking to invest in the growing gem and jewelry certification industry. With its strong brand, global presence, and diversified revenue model, IGI is well-positioned for long-term growth. However, as with any investment, it is important to carefully assess the risks and consult with a financial advisor before making a decision.
