• Source:JND
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International Gemological Institute (IGI) India, a Blackstone-backed firm, finalised the price band at Rs 397-417 for its initial public offering opening on December 13. Considering the upper band of the price band the company aims to raise Rs 4,225 crore. Investors have to place bids with a minimum of 35 shares (Lot Size) and in multiples after that.

The three-day issue will remain open for public subscription between December 13 and December 17, whereas anchor investors will have a day to place a bid on December 12.

International Gemological Institute IPO GMP

The Grey market Premium Of the International Gemological Institute is Rs 100 on Wednesday. According to investorgain.com, the shares of the company are trading at Rs 517, up 100 rupees or 23.98 per cent against the IPO price, which is Rs 417 per share.

IPO Details and Allotment Breakdown

The upcoming IPO includes a new issue of shares worth Rs. 1,475 crore and an Offer for Sale (OFS) by Blackstone subsidiary BCP Asia II Topco Pte Ltd worth Rs. 2,750 crore.

The Gemological Institute announced that 75% of the issue volume would be allocated to Qualified Institutional Buyers (QIBs), 15% to non-institutional investors, and the remaining 10% to retail investors.

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Use of Proceeds

The proceeds from the new issue will be utilized to acquire IGI Belgium Group and IGI Netherlands Group by the promoter, as well as for general corporate purposes.

Market Valuation

The company is valued at less than Rs. 18,000 crore price band. The International Institute of Gemology (India) specializes in providing certification and validation services for natural diamonds, lab-grown diamonds, precious stones, and coloured stones.

IPO Managers and Listing Date

Morgan Stanley India, Axis Capital, Kotak Mahindra Capital, and SBI Capital Markets are the lead managers of the IPO. The company's shares are slated to be listed on the NSE and BSE on December 20.

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