- IGI IPO subscription reached 0.46x on Day 2, driven mainly by retail investors.
- Retail portion oversubscribed 1.76x, while QIB demand remained subdued at 0.01x.
- GMP of International Gemological Institute IPO stands at ₹111 per share, indicating strong interest in the grey market.
- International Gemological Institute IPO date closes on December 17, 2024, with allotment finalization on December 18, 2024, and International Gemological Institute IPO listing date set for December 20, 2024.
- Proceeds will fund acquisitions and general corporate purposes.
The International Gemological Institute IPO has received a subscription rate of 0.46 times by the second day of bidding (December 16, 2024). The diamond and gemstone certification company opened its IPO on December 13, 2024, and will close the issue on December 17, 2024.
International Gemological Institute IPO: Issue Details
| Details | Information |
|---|---|
| IPO Size | ₹4,225 crore |
| Fresh Equity Shares | 3.54 crore shares (₹1,475 crore) |
| Offer-for-Sale (OFS) | 6.59 crore shares (₹2,750 crore) |
| International Gemological Institute IPO Price Band | ₹397 to ₹417 per share |
| Lot Size | 35 shares per lot |
| International Gemological Institute IPO Date (Open) | December 13, 2024 |
| Closing Date | December 17, 2024 |
| Allotment Finalization | December 18, 2024 |
| International Gemological Institute IPO Listing Date | December 20, 2024 |
The minimum investment for retail investors is ₹14,595 for one lot (35 shares). The minimum investment for small non-institutional investors is 14 lots; for big non-institutional investors, it is 69 lots.
International Gemological Institute Subscription Status (Day 2)
By 1:42 PM on December 16, 2024, the International Gemological Institute IPO subscription status was as follows:
| Category | Shares on Offer | Bids Received | Subscription Rate |
|---|---|---|---|
| Qualified Institutional Buyers | 3.19 crore | 2.77 lakh | 0.01x |
| Non-Institutional Investors | 1.59 crore | 76.95 lakh | 0.48x |
| Retail Investors | 1.06 crore | 1.87 crore | 1.76x |
| Employee Reserved Portion | 55,865 shares | 2.88 lakh | Over 5x |
| Total | 5.85 crore | 2.7 crore | 0.46x |
GMP of International Gemological Institute IPO
The GMP for the International Gemological Institute IPO price is currently at ₹111 per share, reflecting a 27% premium over the upper price band of ₹417.
Company Overview: International Gemological Institute
- Founded: 1999
- Operations: Certification and grading of natural diamonds, lab-grown diamonds, gemstones, and jewellery.
- Global Presence: 31 laboratories and 18 gemology schools worldwide.
- Market Share: Holds 50% market share in India for certification volumes and ranks as the second-largest independent certification provider globally.
- Global Operations: IGI operates 19 labs in India and one in Türkiye.
Financials
| Particulars | For Quarter Ending Sep 30, 2024 |
|---|---|
| Net Revenue | ₹619.49 crore |
| Net Profit | ₹326.06 crore |
For the nine months ending September 2024, IGI reported a revenue of ₹788.16 crore and a net profit of ₹316.83 crore.
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Purpose of the IPO
The net proceeds from the IPO will be utilized for:
- Acquisition of IGI Belgium Group and IGI Netherlands Group to consolidate global operations under the IGI brand.
- General corporate purposes.
Analyst Review: Should You Subscribe?
Analysts recommend subscribing to the International Gemological Institute IPO for potential listing gains and long-term growth prospects. The company has shown consistent financial growth and holds a leadership position in its segment.
- Valuation: The IPO is priced at a P/E of 82.90 based on FY25 annualized earnings and 110.90 based on FY24 earnings, making it appear fully priced.
- Expert Opinion: “Investors seeking listing gains and long-term opportunities can consider subscribing,” said Swastika Investmart.
Keep an eye on the International Gemological Institute IPO allotment status and updates as the bidding closes on December 17, 2024.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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