The International Gemmological Institute (India) IPO made a strong debut on the stock exchanges, listing at a significant premium over the issue price. The IPO, valued at ₹4,225 crore, saw high demand from institutional buyers and was oversubscribed by 35.48 times. Shares of the company closed lower than the listing price, but still above the IPO price.
The company plans to use the funds raised from the IPO to acquire IGI Belgium Group and IGI Netherlands Group, as well as for general corporate purposes. IGI is a leading provider of certification services for diamonds and colored stones, holding a 33% market share globally.
Top investment firms managed the IPO, including Axis Capital and Kotak Mahindra Capital. Overall, the IPO and listing of International Gemmological Institute (India) have been significant events in the stock market, attracting investor interest and demonstrating the company’s potential in the gemmological industry.
