International Gemological Institute (India) Limited is set to launch its Initial Public Offering (IPO) on December 13, 2024. The IPO aims to raise Rs. 4,225 crore and consists of a fresh issue of Rs. 1,475 crore and an offer for sale of Rs. 2,750 crore by its promoter selling shareholder, BCP Asia II TopCo Pte. Ltd.  

The price band for the issue has been fixed at Rs. 397 to Rs. 417 per equity share, with a face value of Rs. 2 per share. Eligible employees bidding in the reserved portion will receive a discount of Rs. 39.7 to Rs. 41.7 per equity share. Bids can be made for a minimum of 35 equity shares and in multiples of 35 thereafter.  

The proceeds from the fresh issue will primarily be used for acquiring IGI Belgium Group and IGI Netherlands Group from the promoter, an investment estimated at Rs. 1,300 crore. The remaining funds will be allocated for general corporate purposes.  

Tehmasp Printer, Managing Director and CEO of IGI, described the IPO as a key milestone in the company's journey toward global leadership in the gemological industry. He emphasized IGI’s strong legacy of innovation and expertise and expressed excitement about the company’s public debut in India.  

Mukesh Mehta, Senior Managing Director at Blackstone, highlighted IGI’s growth over the past two years, noting its leadership in lab-grown diamond certification and its strengthened position in other segments.  

The IPO will follow the book-building process. Seventy-five percent of the net offer is reserved for qualified institutional buyers, 15 percent for non-institutional investors, and 10 percent for retail individual investors.  

Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, and SBI Capital Markets Limited are the book running lead managers for the offer.  

The IPO will close on December 17, 2024. Interested investors can access the Red Herring Prospectus for detailed information, including risk factors.