International Gemmological Institute IPO Sparkles at Rs 4,225 Crore Valuation

International Gemmological Institute (India) Ltd announces its IPO with a price band of Rs 397-417 per share, aiming to raise Rs 4,225 crore. The IPO, starting December 13, includes a fresh issue worth Rs 1,475 crore and an Offer for Sale at Rs 2,750 crore. Funds will support acquisitions and corporate needs.

International Gemmological Institute (India) Ltd, backed by Blackstone, has declared a price range of Rs 397-417 per share for its upcoming Initial Public Offering (IPO), projected to raise Rs 4,225 crore. The subscription will be open from December 13 to December 17, as per the company's statement.

The initial offering entails a fresh issue of shares amounting to Rs 1,475 crore, alongside an Offer for Sale (OFS) worth Rs 2,750 crore put forth by the promoter BCP Asia II TopCo Pte Ltd, an entity affiliated with Blackstone.

Proceeds from the fresh issue are intended for the acquisition of IGI Belgium Group and IGI Netherlands Group for promoter and general corporate purposes. The company is renowned for its certification services in natural and laboratory-grown diamonds, holding a 33% global market share, as reported by Redseer. A significant portion, 75%, of the issue is allocated for Qualified Institutional Buyers (QIBs), with plans to list the shares on BSE and NSE from December 20.

(With inputs from agencies.)