IGI Shares List at 22% Premium on BSE, NSE

20 Dec 2024 , 10:37 AM

The shares of International Gemmological Institute were listed on the NSE on Friday at Rs 510, a 22.3% premium (Rs 93). At Rs 505, the stock made its debut on the BSE at a 21.1% premium (Rs 88).

With a subscription of 35 times at close, IGI’s initial public offering (IPO), which combined a fresh equity sale of Rs 1475 crore with an OFS of 6.59 lakh shares, was well appreciated by investors.

The IGI Belgium Group and IGI Netherlands Group will be acquired with the proceeds of the new issuance, combining international operations under the IGI name. Remaining proceeds will go towards general corporate purposes.

The company, which is a member of the internationally renowned IGI Group, certifies jewelry, colored stones, lab-grown diamonds, and natural diamonds. It also provides gemology education. With 19 laboratories in India and one in Turkey, IGI India has the largest network of peers worldwide and a 50% market dominance in certification volumes in India.

With a global market share of 33% based on the quantity of diamond, studded jewelry, and colored stone certifications completed, IGI is the second-largest independent certification and accreditation services provider in the world based on revenue for CY23 among global peers.

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