International Gemmological Institute (India) Limited IPO (International Gemmological Institute IPO) Detail
The International Gemmological Institute IPO is a book-built offering totaling ₹4,225.00 crores. It consists of a fresh issue of 3.54 crore shares worth ₹1,475.00 crores and an offer for sale of 6.59 crore shares valued at ₹2,750.00 crores.
The subscription period for the International Gemmological Institute IPO will open on December 13, 2024, and close on December 17, 2024. Allotment is expected to be finalized on December 18, 2024, with the IPO listing on BSE and NSE scheduled for December 20, 2024.
The IPO price band is set between ₹397 and ₹417 per share. The minimum application size is 35 shares, with a retail investment requirement of ₹14,595. For sNII investors, the minimum lot size is 14 lots (490 shares), totaling ₹204,330, while for bNII investors, it is 69 lots (2,415 shares), amounting to ₹1,007,055.
Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt. Ltd., and SBI Capital Markets Limited are the book-running lead managers for the IPO, with Kfin Technologies Limited serving as the registrar.
International Gemmological Institute IPO Details
| IPO Date | December 13, 2024 to December 17, 2024 |
| Listing Date | Friday, December 20, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹397 to ₹417 per share |
| Lot Size | 35 Shares |
| Total Issue Size | 101,318,944 shares (aggregating up to ₹4,225.00 Cr) |
| Fresh Issue | 35,371,702 shares (aggregating up to ₹1,475.00 Cr) |
| Offer for Sale | 65,947,242 shares of ₹2 (aggregating up to ₹2,750.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 396,783,045 |
| Share holding post issue | 432,154,747 |
International Gemmological Institute IPO Timeline (Tentative Schedule)
The International Gemmological Institute IPO will open on December 13, 2024, and close on December 17, 2024.
| IPO Open Date | Friday, December 13, 2024 |
| IPO Close Date | Tuesday, December 17, 2024 |
| Basis of Allotment | Wednesday, December 18, 2024 |
| Initiation of Refunds | Thursday, December 19, 2024 |
| Credit of Shares to Demat | Thursday, December 19, 2024 |
| Listing Date | Friday, December 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 17, 2024 |
International Gemmological Institute IPO Lot Size
Investors can place bids for a minimum of 35 shares, with additional bids in multiples of this lot size. The table below shows the minimum and maximum investments for retail investors and HNIs, both in shares and amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,595 |
| Retail (Max) | 13 | 455 | ₹189,735 |
| S-HNI (Min) | 14 | 490 | ₹204,330 |
| S-HNI (Max) | 68 | 2,380 | ₹992,460 |
| B-HNI (Min) | 69 | 2,415 | ₹1,007,055 |
International Gemmological Institute IPO Promoter Holding
The promoter of the Company is BCP Asia II TopCo Pte. Ltd.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 76.55% |
About International Gemmological Institute (India) Limited
Founded in February 1999, International Gemmological Institute (India) Limited is a globally recognized entity specializing in the certification and grading of diamonds, gemstones, and jewellery.
IGI provides independent grading reports that evaluate and certify the attributes of stones, including their color, cut, clarity, and carat weight, based on internationally accepted standards. These reports offer detailed insights into the characteristics of both natural and lab-grown diamonds.
In addition to its certification services, IGI offers educational programs and degree courses for professionals in the gem and jewellery industry and operates a dedicated research department.
With a global presence, IGI runs 31 laboratories across the world, grading finished jewellery, natural diamonds, lab-grown diamonds, and gemstones. The institute also operates 18 gemology schools that produce thousands of graduates annually.
Services Offered:
- Diamond Grading: Reports on the 4Cs (cut, color, clarity, carat weight) for natural and lab-grown diamonds, including details on fluorescence and symmetry.
- Coloured Stone Grading: Evaluates the quality and authenticity of stones like rubies, sapphires, and emeralds, issuing comprehensive grading reports.
- Jewellery Evaluation: Assesses the quality of diamonds and coloured stones, craftsmanship, and overall value of finished jewellery.
- Education: Provides courses in gemology, diamond grading, jewellery design, and related fields.
As of September 30, 2024, IGI operates 20 laboratories and 9 schools under its Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other specialists in research, education, and certification.
IGI’s certification operations span 31 branches and laboratories in 10 countries, including major markets such as Surat and Mumbai (India), Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai.
Competitive Strengths:
- The company is the second-largest independent certification provider globally for diamonds and jewellery, operating in a high-barrier industry.
- A key player in certifying the rapidly growing lab-grown diamond sector.
- Offers a broad spectrum of certification and accreditation services to a diverse client base throughout the value chain.
- Strong educational initiatives that foster awareness, strengthen customer relationships, and promote the brand.
International Gemmological Institute (India) Limited Financial Information (Restated)
| Period Ended | 30 Sep 2024 | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2021 |
| Assets | 775.60 | 603.20 | 409.03 | 319.69 |
| Revenue | 619.49 | 648.66 | 499.33 | 374.29 |
| Profit After Tax | 326.06 | 324.74 | 241.76 | 171.53 |
| Net Worth | 643.41 | 509.01 | 339.07 | 242.59 |
| Reserves and Surplus | 111.46 | 119.40 | ||
| Amount in ₹ Crore | ||||
Key Performance Indicator
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 76.58% |
| ROCE | 80.96% |
| RoNW | 76.58% |
Objects of the Issue (International Gemmological Institute IPO Objectives)
The company intends to use the net proceeds for the following purposes:
- Payment for the acquisition of the IGI Belgium Group and IGI Netherlands Group from the promoter.
- General corporate expenses.
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