The offer comprises a fresh issue of Rs 1,475 crore and an offer for sale (OFS) of Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd.
At the upper price band, the IPO values IGI India at a market capitalization of Rs 16,545 crore.
Anchor bidding will begin on December 12, with the allotment of shares finalized on December 18. The stock is expected to debut on exchanges on December 20 and refunds and credit of shares would be processed by December 19.
About IGI (India)
Part of the globally recognized IGI Group, the company certifies natural diamonds, lab-grown diamonds, jewelry, and colored stones, while also offering gemology education. IGI India holds a 50% market share in India for certification volumes and operates 19 labs across India and one in Türkiye, making it the largest network among peers globally.
Globally, IGI is the second-largest independent certification provider, with a 33% market share in diamond and jewelry certifications in 2023, as per the Redseer Report.
IGI financials
For the nine months ending September 2024, IGI India reported revenue of Rs 788.16 crore and a net profit of Rs 316.83 crore, slightly lower than the previous year.
IGI IPO: Net proceeds
Funds from the fresh issue will be used to acquire the IGI Belgium Group and IGI Netherlands Group, consolidating global operations under the IGI brand. Remaining proceeds will go towards general corporate purposes.
IGI IPO: Lead managers
The IPO is managed by Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets.
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