Liquidity Events
International Gemological Institute’s Rs.4,225-Cr IPO subscribed by 1.42 times
Economic Times International Gemmological Institute
Mumbai-based International Gemological Institute 's Initial Public Offering (IPO) has received 1.42 times subscription. The retail individual investors (RIIs) part fetched 4.07% subscription while the quota for non-institutional investors (NIIs) got subscribed 2.27 times. Qualified institutional buyers (QIBs) bid for 9% of the shares reserved for them.The company aimed to raise INR 4,225 crore through a combination of fresh equity sale and an offer for sale. The price band was fixed at INR 397-417 per share. The net proceeds from the IPO will be used to acquire the IGI Belgium Group and IGI Netherlands Group to consolidate global operations under the IGI brand.International Gemmological Institute , a Blackstone portfolio company, provides grading reports for diamonds, colored gemstones, and jewelry. These reports analyze and certify the characteristics of these stones using internationally recognized standards, including the 4Cs for diamonds (color, cut, clarity, and carat weight). It has 30 laboratories and 19 education facilities in major diamond and jewelry centers around the world.
In May 2023, Blackstone had acquired 100% stake in International Gemological Institute .
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