The International Gemmological Institute IPO (or IGI IPO) is a book built issue that intends to raise 4,225 crores. It consists of 3.54 crore of fresh shares of Rs 1,475 crores and OFS of 6.59 crore shares amounting to Rs 2,750 crores. Listing will take place both on NSE and BSE on Friday, December 20, 2024. At the end of Day 2 of bidding, the IGI IPO was subscribed 0.77 times — 2.58 times in the retail category, 0.09 times in QIB and 0.88 times in the NII segment.
In 1999, IGI India became the first body to offer certification and accreditation services for diamonds, studded jewelry and colored stones. According to reports, India is the world’s largest center for cutting/polishing diamonds where about 95% of the world’s diamonds are polished. IGI India is the biggest independent certification and accreditation services provider in India and has about half the market share in 2023 calendar year. The IGI IPO has been assigned an ‘Apply’ rating by analyst Dilip Davda.
IGI IPO GMP, price band
According to investorgain, the International Gemmological Institute IPO GMP was recorded at Rs 125 on December 16, 2024 evening. AT this level, it indicated a listing price of Rs 542 and a probable listing gain of 29.98%. In fact, it jumped dramatically from Rs 95 on December 15. The GMP stood at Rs 105 on December 13, when the bidding process started. However, it must be kept in mind that GMP is an unofficial gauge and does not guarantee anything – listing gain or loss and can easily change with time.
The IGI IPO price band has been fixed at Rs 397-417. For a retail investor, the minimum investible lot size consists of 35 shares, for which Rs 14,595 is needed as the application money. For sNII, the minimum lot size is 14 lots (or 490 shares) that cost Rs 2,04,330, and for bNII, 69 lots (or 2,415 shares) that will cost Rs 10,07,055.
IGI IPO lead managers
Lead managers to the IGI IPO are Kotak Mahindra Capital, Axis Capital, Morgan Stanley India and SBI Capital Markets. Kfin Technologies has been appointed as the registrar for the issue.
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Today Tuesday, December 17, 2024 is the last day of the bidding process for the International Gemmological Institute (IGI) IPO. The date of allotment of shares is December 18. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
