Global Expansion: IGI India's Rs 4,225-Crore IPO Set for December

International Gemmological Institute (India) Ltd is launching a Rs 4,225-crore IPO with a price band of Rs 397-417 per share. The initiative includes a Rs 1,475 crore fresh issue and a Rs 2,750 crore offer for sale by BCP Asia II TopCo Pte Ltd. The IPO aims to support IGI's growth.

International Gemmological Institute (India) Ltd, backed by Blackstone, announced its ambitious Rs 4,225-crore initial public offering (IPO) on Monday, setting a price band of Rs 397-417 per share. The IPO is slated to open on December 13 and conclude on December 17, with anchor investor bidding opening a day earlier.

The offering comprises a fresh issue of equity shares worth Rs 1,475 crore and an Offer for Sale (OFS) of Rs 2,750 crore by BCP Asia II TopCo Pte Ltd, Blackstone's affiliate. The company plans to use the fresh issue proceeds for acquiring IGI Belgium and IGI Netherlands Groups, as well as for general corporate purposes.

With a global market share of roughly 33 percent, IGI stands as the second-largest independent provider of certification services for diamonds and jewelry as per the Redseer report for CY2023. The equity shares will be listed on BSE and NSE on December 20, with Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets leading the issue.

(With inputs from agencies.)