The International Gemmological Institute IPO has taken the Indian primary market by storm. Opening on December 13, 2024, the IGI IPO aims to raise ₹4,225 crore, a combination of a fresh issue and an Offer-for-Sale (OFS). As of Day 2, the IPO is witnessing a steady subscription rate, with the retail portion fully subscribed and a grey market premium (GMP) indicating robust investor interest.
If you’re considering investing in the IGI IPO, here’s a complete guide covering all aspects, including subscription details, GMP trends, key dates, and expert recommendations.
Key Highlights of IGI IPO
- IPO Size: ₹4,225 crore.
- Fresh Issue: ₹1,475 crore.
- Offer-for-Sale (OFS): ₹2,750 crore (promoter BCP Asia II TopCo Pte Ltd).
- Fresh Issue: ₹1,475 crore.
- Price Band: ₹397–₹417 per share.
- Market Position: IGI is a global leader in diamond and gemstone certification, backed by Blackstone.
- Use of Proceeds:
- Acquisition of IGI Belgium Group and IGI Netherlands Group.
- General corporate purposes.
- Subscription Status (Day 2):
- Retail: 1.07x.
- Non-Institutional Investors (NII): 22%.
- Qualified Institutional Buyers (QIB): Yet to subscribe.
- Overall: 27%.
Purpose of the IPO
The funds raised through the IPO will serve strategic purposes, including:
- Acquisition: Purchase of IGI Belgium Group and IGI Netherlands Group.
- Growth: Strengthening its leadership position in the diamond certification market.
- Corporate Expenses: Supporting general corporate initiatives to fuel growth.
IGI IPO GMP Analysis
As per the latest updates, the grey market premium (GMP) for IGI IPO stands at ₹95, indicating a potential listing price of ₹512, which is 22.78% above the upper IPO price band of ₹417.
Grey Market Trends
- Highest GMP: ₹145.
- Lowest GMP: ₹75.
- Current GMP: ₹95.
While the GMP has seen a slight downward trend, the IPO continues to attract significant interest, reflecting positive sentiment among investors.
Key Dates for IGI IPO
| Event | Date |
|---|---|
| IPO Open Date | December 13, 2024 |
| IPO Close Date | December 17, 2024 |
| Basis of Allotment | December 18, 2024 |
| Refund Initiation | December 19, 2024 |
| Credit of Shares to Demat | December 19, 2024 |
| Listing Date | December 20, 2024 |
How to Check IGI IPO Allotment Status
Investors can check their IPO allotment status online via the BSE, NSE, or the IPO registrar’s website (Kfin Technologies).
Steps to Check Allotment Status on BSE:
- Visit BSE IPO Allotment Page.
- Select “Equity” under Issue Type.
- Choose International Gemmological Institute Ltd under Issue Name.
- Enter your Application Number or PAN.
- Verify with the CAPTCHA and click “Search.”
Steps to Check Allotment Status on Kfin Technologies:
- Visit Kfin IPO Status.
- Select International Gemmological Institute Ltd from the dropdown.
- Choose Application No., Demat Account, or PAN as your reference.
- Enter the required details and CAPTCHA.
- Click “Submit” to view your allotment status.
Subscription Status Analysis (Day 2)
As of Day 2, the IPO has been subscribed 27% overall:
- Retail Portion: Fully subscribed at 1.07x.
- Non-Institutional Investors (NII): 22%.
- Qualified Institutional Buyers (QIB): No subscription yet.
Expert Recommendations
Swastika Investmart suggests subscribing to the IGI IPO for both listing gains and long-term potential, citing the company’s strong financial performance and leadership in the global diamond certification market.
FAQs About International Gemmological Institute IPO
1. What is the price band for the IGI IPO?
The price band is set between ₹397 and ₹417 per share.
2. How is the IPO structured?
The IPO consists of a ₹1,475 crore fresh issue and a ₹2,750 crore Offer-for-Sale (OFS).
3. How can I check the IGI IPO allotment status?
You can check the status through the BSE, NSE, or Kfin Technologies websites.
4. What is the GMP for the IGI IPO?
As of today, the grey market premium (GMP) is ₹95.
5. When will IGI shares be listed?
The shares will be listed on the stock exchanges on December 20, 2024.
6. What will IGI do with the funds raised?
The proceeds will be used for acquiring the IGI Belgium Group and IGI Netherlands Group, along with general corporate purposes.
Conclusion
The International Gemmological Institute IPO is a promising opportunity for investors looking for a mix of listing gains and long-term growth potential. Backed by Blackstone and known for its global leadership in diamond certification, IGI is set to strengthen its market position post-IPO.
With a robust GMP of ₹95 and a fully subscribed retail portion, the IPO has already gained significant traction. Investors are advised to evaluate their financial goals and consult advisors before making a decision.
By Shehnaz Shaikh
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