The International Gemmological Institute supported by Blackstone The initial public offering (IPO) of International Gemmological Institute will go live on December 13 and end on December 17.
Issue size and structure
The Rs 4,225 crore book-built issue is a new Rs 1,475 crore issuance and a Rs 2,750 crore offer-for-sale (OFS) by BCP Asia II TopCo Pte Ltd, a subsidiary of Blackstone
The business has set aside 10 per cent of the net offer for retail investors, 75 per cent for qualified institutional buyers (QIBs), and 15 per cent for non-institutional investors (NIIs).
Price band and minimum order
Rs 397 to Rs 417 per share is the price range for the International Gemmological Institute’s initial public offering. For an application, a minimum lot size of 35 shares is required.
Retail investors must make a minimum investment of Rs 14,595. The minimum lot size investment for bNII is 69 lots (2,415 shares), which comes to Rs 1,007,055, and for sNII, it is 14 lots (490 shares), which comes to Rs 204,330.
Use of IPO proceeds
IGI Netherlands Group and IGI Belgium Group will be purchased from the promoter for Rs 1,300 crore. Additionally, a portion will be utilized for general business needs. On December 12, there will be a one-day auction for anchor investors.
Registrar and book running lead managers
The International Gemmological Institute IPO’s book running lead managers are Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, and SBI Capital Markets Limited.The issue’s registrar is Kfin Technologies Limited.
About company
In addition to offering an educational program, the International Gemmological Institute offers services for the certification of colored stones, diamonds, and jewelry with studs, both natural and lab-grown.
Complete diamond grading, grading and evaluating completed jewelry, assessing the quality and authenticity of colored stones, and running educational programs and courses are some of the services it provides.
Following the acquisition of IGI Belgium Group and IGI Netherlands Group, the business will emerge as a major global certifier.
