About International Gemmological Institute (India) Limited
Incorporated in February 1999, International Gemmological Institute (India) Limited is a globally recognized organization certifying and grading diamonds, gemstones, and jewellery.
IGI provides independent grading reports that analyze and certify the characteristics of stones using internationally recognized standards. These reports include details about the stone’s colour, cut, clarity, and carat weight.
IGI also offers education courses and degree plans for the gem and jewellery trade and has a research department.
IGI operates 31 laboratories worldwide that grade finished jewellery, natural diamonds, lab-grown diamonds, and gemstones. Additionally, it has 18 gemology schools that graduate thousands of students each year.
The services offered by the company are as follows
- Diamond grading includes reports on the 4Cs (cut, colour, clarity, carat weight) for natural and lab-grown diamonds and details on fluorescence and symmetry.
- Evaluating the quality and authenticity of coloured stones like rubies, sapphires, and emeralds and issuing detailed grading reports.
- Evaluating finished jewellery involves assessing diamond and coloured stone quality, craftsmanship, and overall value.
- Offering educational programs and courses in gemology, diamond grading, jewellery design, and related subjects.
As of September 30, 2024, the company has a network of 20 laboratories and 9 schools under the Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other professionals in research, education, and certification processes.
As of September 30, 2024, IGI’s certification business operates through 31 branches and laboratories in 10 countries, including key markets like Surat and Mumbai in India, Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai.
Competitive Strength
- The company is the second-largest independent certification provider globally for diamonds and jewellery, operating in a high-barrier industry.
- Provider of certification services for the rapidly growing laboratory-grown diamond industry.
- An extensive range of certification and accreditation services is offered to a diverse group of customers throughout the value chain.
- Education initiatives that support spreading awareness, building customer partnerships and the company’s brand
International Gemmological Institute IPO Details
| IPO Date | December 13, 2024 to December 17, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹397 to ₹417 per share |
| Lot Size | 35 Shares |
| Total Issue Size | 10,13,18,944 shares (aggregating up to ₹4,225.00 Cr) |
| Fresh Issue | 3,53,71,702 shares (aggregating up to ₹ 1,475.00 Cr) |
| Offer for Sale | 6,59,47,242 shares of ₹2 (aggregating up to ₹2,750.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 39,67,83,045 shares |
| Share Holding Post Issue | 43,21,54,747 shares |
International Gemmological Institute IPO Timeline (Tentative Schedule)
International Gemmological Institute IPO IPO opens on December 13, 2024, and closes on December 17, 2024.
| IPO Open Date | Friday, December 13, 2024 |
| IPO Close Date | Tuesday, December 17, 2024 |
| Basis of Allotment | Wednesday, December 18, 2024 |
| Initiation of Refunds | Thursday, December 19, 2024 |
| Credit of Shares to Demat | Thursday, December 19, 2024 |
| Listing Date | Friday, December 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 17, 2024 |
International Gemmological Institute IPO Lot Size
Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,595 |
| Retail (Max) | 13 | 455 | ₹1,89,735 |
| S-HNI (Min) | 14 | 490 | ₹2,04,330 |
| S-HNI (Max) | 68 | 2,380 | ₹9,92,460 |
| B-HNI (Min) | 69 | 2,415 | ₹10,07,055 |
| Lot Size Calculator | |||
International Gemmological Institute IPO Reservation
International Gemmological Institute IPO offers 10,13,23,892 shares. 3,03,81,295 (29.98%) to QIB, 1,51,90,647 (14.99%) to NII, 1,01,27,098 (9.99%) to RII, 52,910 (0.05%) to employees and 4,55,71,942 (44.98%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 4,55,71,942 (44.98%) | NA |
| QIB Shares Offered | 3,03,81,295 (29.98%) | NA |
| NII (HNI) Shares Offered | 1,51,90,647 (14.99%) | |
| bNII > ₹10L | 1,01,27,098 (9.99%) | 20,667 |
| sNII < ₹10L | 50,63,549 (5%) | 10,333 |
| Retail Shares Offered | 1,01,27,098 (9.99%) | 2,89,345 |
| Employee Shares Offered | 52,910 (0.05%) | NA |
| Total Shares Offered | 10,13,23,892 (100%) |
International Gemmological Institute IPO Promoter Holding
The promoter of the Company is BCP Asia II TopCo Pte. Ltd.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 76.55% |
International Gemmological Institute IPO Anchor Investors Details
International Gemmological Institute IPO raises Rs 1,900.35 crore from anchor investors. International Gemmological Institute IPO Anchor bid date is December 12, 2024.International Gemmological Institute IPOAnchor Investors list
| Bid Date | December 12, 2024 |
| Shares Offered | 4,55,71,942 |
| Anchor Portion Size (In Cr.) | 1,900.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 17, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 18, 2025 |
Company Financials
International Gemmological Institute (India) Limited Financial Information (Restated)
| Period Ended | 30 Sep 2024 | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2021 |
| Assets | 775.60 | 603.20 | 409.03 | 319.69 |
| Revenue | 619.49 | 648.66 | 499.33 | 374.29 |
| Profit After Tax | 326.06 | 324.74 | 241.76 | 171.53 |
| Net Worth | 643.41 | 509.01 | 339.07 | 242.59 |
| Reserves and Surplus | 111.46 | 119.40 | ||
| Amount in ₹ Crore | ||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 76.58% |
| ROCE | 80.96% |
| RoNW | 76.58% |
Objects of the Issue (International Gemmological Institute IPO Objectives)
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter; and
- General corporate purposes.
International Gemmological Institute IPO is a book built issue of Rs 4,225.00 crores. The issue is a combination of fresh issue of 3.54 crore shares aggregating to Rs 1,475.00 crores and offer for sale of 6.59 crore shares aggregating to Rs 2,750.00 crores.
International Gemmological Institute IPO bidding opened for subscription on December 13, 2024 and will close on December 17, 2024. The allotment for the International Gemmological Institute IPO is expected to be finalized on Wednesday, December 18, 2024. International Gemmological Institute IPO will list on BSE, NSE with tentative listing date fixed as Friday, December 20, 2024.
International Gemmological Institute IPO price band is set at ₹397 to ₹417 per share. The minimum lot size for an application is 35. The minimum amount of investment required by retail investors is ₹14,595. The minimum lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,04,330, and for bNII, it is 69 lots (2,415 shares), amounting to ₹10,07,055.
