International Gemmological Institute IPO (IGI IPO) Detail – Dates, GMP, Price band, Subscription and Allotment

International Gemmological Institute IPO (IGI) Launches Rs 4,225 Crore IPO

The International Gemmological Institute (IGI) has announced the launch of its highly anticipated IPO, valued at Rs 4,225 crores. This book-built issue is set with a price band ranging from Rs 397 to Rs 417 per share, catering to both retail and non-institutional investors.

Details of the IGI IPO

The IPO consists of a fresh issue amounting to Rs 1,475 crores and an offer for sale (OFS) of Rs 2,750 crores. The subscription period will open on December 13, 2024, and close on December 17, 2024. The allotment of shares is expected on December 18, 2024, with a tentative listing date on December 20, 2024, on both the BSE and NSE.

Investment Options

Retail Investors: The minimum lot size is set at 35 shares, which translates to an investment of Rs 14,595.
sNII (Small Non-Institutional Investors): Investments start at Rs 204,330.
bNII (Big Non-Institutional Investors): Investments start at Rs 1,007,055.

Purpose of the IPO

The funds raised from the IPO will be utilized to acquire IGI Belgium and Netherlands, aiding in the consolidation of global operations. With a strong grey market premium of 20%, analysts are optimistic about IGI’s market leadership in gem certification and its growth potential.

Day 1 of Subscription

On the first day of bidding, the IPO saw a 17% subscription rate. The retail category led the charge with 70% subscription, followed by non-institutional investors at 14%. As of now, institutional investors have yet to place their bids.

International Gemological Institute IPO Dates

International Gemological Institute IPO GMP