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According to data available, the price band has been fixed between ₹397 – ₹417 per share. The IPO will open for subscription on December 13 and will close on December 17.
Potential investors can bid for one lot of 35 shares and in multiples thereof. A minimum investment of one lot will entail a minimum investment of ₹14,595.
The IPO is a fresh issue of ₹1,475 crore and an Offer For Sale (OFS) of ₹2,750 crore.
The post issue implied market capitalisation is said to be between ₹17,228 crore – ₹18,021 crore.
For existing employees, the price band comes with a discount of ₹39 per share.
Axis Capital, Kotak Mahindra Capital, Morgan Stanley, SBI Capital Markets have been appointed as the Book Running Lead Managers for the issue.
75% of the IPO has been reserved for Qualified Institutional Bidders (QIB), 15% of the issue has been reserved for the Non-Institutional Bidders, while the remaining 10% is for the retail investors.
IGI is involved in providing certification of diamonds, studded jewellery and coloured stones. It is the world’s second-largest independent certification and accreditation services provider with a global market share of nearly 33%.
Out of the fresh issue proceeds, ₹1,300 crore will be used to acquire 100% stake in IGI Belgium Group and IGI Netherlands Group from Blackstone for an enterprise value of ₹1,365 crore.
IGI will then be responsible for operations in India, Belgium, Netherland, Turkey, UAE, Israel, Thailand, Hong Kong, USA, Egypt and China.
Allottment for the shares of these will be around December 18, while the listing of the shares will take place on December 20, 2024.
First Published: Dec 9, 2024 8:45 AM IST
