International Gemmological Institute India Ltd. IPO
International Gemmological Institute (IGI) is launching an initial public offering (IPO). The IPO opens on December 13, 2024 and closes on December 17, 2024. IGI is a globally recognized organization that certifies and grades diamonds, gemstones, and jewellery.
Read the article to know more about key details & an overview of the IPO, the important dates and issue review for market enthusiasts.
Read the article to know more about key details & an overview of the IPO, the important dates and issue review for market enthusiasts.
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by RA ALOK DAIYA SEBI Reg. INH000011468, BSE Enlistment No. 5737
About International Gemmological Institute
Global Certification Excellence
Operating 31 laboratories worldwide, IGI provides independent grading reports for diamonds, gemstones, and jewelry using internationally recognized standards. Each report meticulously details the stone's color, cut, clarity, and carat weight.
World-Class Gemological Education
Through its network of 18 gemology schools, IGI offers comprehensive education courses and degree plans for the gem and jewellery trade, graduating thousands of skilled professionals annually.
Innovation Through Research
Established in 1999, IGI maintains dedicated research facilities that advance gemological science, analyzing both natural and lab-grown diamonds while developing cutting-edge certification methodologies.
IGI Services and Operations
Diamond Grading
Reports on the 4Cs (cut, colour, clarity, carat weight) for natural and lab-grown diamonds, including details on fluorescence and symmetry.
Coloured Stone Evaluation
Assessing quality and authenticity of gemstones like rubies, sapphires, and emeralds with detailed grading reports.
Jewellery Evaluation
Evaluating finished jewellery by assessing diamond and coloured stone quality, craftsmanship, and overall value.
Education Programs
Offering courses in gemology, diamond grading, jewellery design, and related subjects.
As of September 30, 2024, IGI has a network of 20 laboratories and 9 schools under the Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other professionals. The company'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.
IPO Details and Timeline
IPO Timeline
1
IPO Opening
Friday, December 13, 2024
2
IPO Closing
Tuesday, December 17, 2024
UPI mandate confirmation cut-off: 5 PM
3
Basis of Allotment
Wednesday, December 18, 2024
4
Initiation of Refunds
Thursday, December 19, 2024
5
Credit of Shares to Demat
Thursday, December 19, 2024
6
Listing Date
Friday, December 20, 2024
Financial Information and IPO Objectives
Financial Information (Restated, in ₹ Crore)
Key Performance Indicators (as of December 31, 2023)
- ROE: 76.58%
- ROCE: 80.96%
- RoNW: 76.58%
IPO Objectives:
- Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter
- General corporate purposes
IPO Lead Managers
- Axis Capital Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Pvt Ltd
- SBI Capital Markets Limited
The registrar for the IPO is Kfin Technologies Limited.
IPO Review
The company is a niche player globally for certifying gem and jewellery segment and also providing training for the industry players. It posted steady growth in its top and bottom lines for the reported periods. It is a dividend paying company. Based on CY24 annualized earnings, the issue appears fully priced, but holds bright prospects as India enjoys around 95% share in global diamond polishing and related matters.