IGI IPO (International Gemmological Institute Limited) has mopped up Rs 1,900 crore from anchor investors by December 12, 2024, a day ahead of day one of bidding. The management has sold 4.55 crore equity at Rs 417 per share. The shares carry a face value of Rs 2. The list of anchor investors includes Government of Singapore, ICICI Prudential Mutual Fund, Nomura Holdings, Abu Dhabi Investment Authority, Government Pension Fund Global, Axis Mutual Fund, SBI Life Insurance, Whiteoak Capital, and Motilal Oswal.
The IGI IPO aims to mop up Rs 4,225.00 crores through a sale of 3.54 crore fresh shares and an OFS (offer for sale) of 6.59 crore shares. The IGI IPO price band has been set at Rs 397-417 per share. A retail investor can bid for a minimum of 35 shares that involves an application money of Rs 14,595. The smallest lot size investment for sNII is 490 shares or 14 lots costing Rs 204,330. For bNII these are 69 lots that involve an application amount of Rs 1,007,055.
IGI IPO GMP
According to investorgain, the IGI GMP stood at Rs 75 on the morning of December 13, which is the first day of the bidding process. If the price of an equity share of Rs 417.00 is considered, the IGI listing price could be Rs 492, which indicates a listing gain of 17.99%. Significantly, the GMP came down to this level from Rs 145 on December 9. It must be noted that GMP is an unofficial indicator that can change with time and does not guarantee anything – listing gain or loss.
IGI IPO dates
Bid opens: December 13, 2024
Bid closes: December 17, 2024
Allotment to be decided on: December 18, 2024
Refund to begin on: December 19, 2024
Listing date: December 20, 2024
The list of book running lead managers to the IGI IPO includes Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, SBI Capital Markets. Kfin Technologies has been appointed as the registrar for the issue. The IGI IPO has been reviewed by Dilip Davda, who has assigned ‘Apply’ rating.
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The price band of the IGI IPO has been set at Rs 397-417 per share. The bidding process has opened on Friday, December 13 and is supposed to continue till Tuesday, December 17, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
