The offer comprises a fresh issue of Rs 1,475 crore while an offer for sale (OFS) amounts to Rs 2,750 crore.
The company filed its draft papers on August 27, 2024, and it received an observation letter from the Securities and Exchange Board of India (Sebi) on November 28.
About International Gemological Institute
The Blackstone portfolio company provides services related to the certification and accreditation of natural diamonds, laboratory grown diamonds, studded jewellery and coloured stones as well as the offering of educational programs.IGI is the world’s second-largest independent certification and accreditation services provider based on revenue for CY2023 among global peers for diamonds, studded jewellery and coloured stones certifications, with a global market share of approximately 33%, based on the number of certifications of diamonds, studded jewellery and coloured stones performed in CY2023, according to the Redseer Report.
IGI IPO: Net proceeds
The company proposes to utilise the net proceeds towards payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter and for general corporate purposes.IGI India, is part of IGI group which is one of the established reputed certifiers in the global market, according to the Redseer Report.
IGI IPO lead managers
Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private and SBI Capital Markets Limited are the book-running lead managers to the issue.
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