International Gemmological Institute (India) Limited (IGI) IPO – L-R: Mr. Eashwar Iyer, Chief Financial Officer, International Gemmological Institute (India) Limited;
Mr. Tehmasp Nariman Printer, Managing Director and Chief Executive Officer, International Gemmological Institute (India) Limited;
Mr. Prateek Roongta, Managing Director, Blackstone at the IPO Press Conference
MUMBAI, 9 DECEMBER, 2024 (GPN): Blackstone-backed International Gemmological Institute (India) Limited (IGI) Limited initial public offering (IPO) will hit the share market for subscription on December 13, Friday. Through the three-day issue, the company plans to raise Rs 4,225 crore.The offer comprises a fresh issue of Rs 1,475 crore while an offer for sale (OFS) amounts to Rs 2,750 crore. The face value is Rs 2 and the price band is fixed at Rs. 397.00-417.00 per share. You can apply to the International Gemmological Institute (IGI) Mainline IPO for a minimum lot of 35 shares amounting of Rs 14595.
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. In India, IGI India holds 50% market share in terms of number of certifications of diamonds, studded jewelry, and colored stones for CY 2023. As of September 30, 2024, IGI has the largest PAN-India laboratory network among its global peers.The company has a network of 20 laboratories and 9 schools. In FY 2024, IGI has served 9 out of 10 jewelry chains in India.Amit Dixit, Head of Private Equity Asia, Blackstone, said: “We are incredibly proud to support IGI on this next chapter of growth. This marks a continuation of our business builder efforts to strengthen IGI’s presence and operations by helping the company expand its reach and offerings and become a one-stop provider of certification. When we first invested in the company two years ago, we knew it had tremendous potential under Tehmasp’s stewardship with the right resources and access. We will continue to partner with the management team and remain heavily invested in IGI, cementing its market leading position.”
Tehmasp Printer, Managing Director and Chief Executive Officer, IGI said: “This is a tremendous milestone for IGI. From Inception, our vision is to grow this business into global leadership. We have been the first movers in India. We have demonstrated strong expertise & innovation in an industry with enormous potential for growth. We are here with the backing of Blackstone and excited to take the 50 year old global company public in India”
In January 2024, Tehmasp Printer was honored at the ‘Hall of Fame’ event by the Gem & Jewelry Export Promotion council, in recognition of his invaluable contribution to the loose stones and studded jewelry industry. In addition to his many achievements and accolades he was awarded the ‘Outstanding Zarathushti Professional of the Year – 2023’ by W.Z.C.C.
Mukesh Mehta, Senior Managing Director, Blackstone, said: “This is a remarkable achievement for IGI and couldn’t have come at a better time. In less than two years, we have helped solidify IGI’s position as a global leader in the certification of lab grown diamonds and an increasingly competitive player in other segments. We remain the largest shareholder at IGI and are thrilled to continue to partner with IGI in its next phase of growth.”
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