Gem-Studded Debut: International Gemmological Institute's IPO Soars on Market Debut

Shares of International Gemmological Institute India Ltd listed at a premium of over 22% on the stock exchange. The IPO was subscribed 33.78 times, raising Rs 4,225 crore, with proceeds to be used for acquisitions and corporate purposes.

International Gemmological Institute India Ltd made a striking debut on the stock market, listing at a premium of more than 22 per cent over its issue price of Rs 417.

The stock began trading at Rs 504.85 on the BSE, climbing further to Rs 525, marking a jump of 25.89 per cent. At NSE, trading commenced at Rs 510, an increase of 22.30 per cent.

The IPO was a resounding success, garnering 33.78 times more subscriptions than anticipated, and the company plans to channel fresh issue proceeds towards the acquisition of the IGI Belgium and Netherlands Groups and for general corporate purposes.

(With inputs from agencies.)