IGI IPO Day 2 Live Updates: Issue booked 17% so far, check GMP, review, more
International Gemmological Institute IPO Day 2 Live Updates: The public offering for the diamond grading company International Gemmological Institute (India) Ltd was subscribed at 17 percent on the opening day of the share sale on Friday. The section allocated for Retail Individual Investors (RIIs) saw a 70 percent subscription, while the allocation for non-institutional investors was subscribed at 14 percent. The employee portion was booked 2.35 times.
International Gemmological Institute (India) Ltd, backed by Blackstone, successfully raised ₹1,900 crore from anchor investors on Thursday. The public offering, priced between ₹397 and ₹417 per share, is set to close on December 17. This ₹4,225-crore IPO consists of a fresh issue of equity shares totaling ₹1,475 crore and an Offer-for-Sale (OFS) amounting to ₹2,750 crore from promoter BCP Asia II TopCo Pte Ltd, a Blackstone affiliate.
The firm plans to use the funds from the new issue for acquiring IGI Belgium Group and IGI Netherlands Group from the promoter, along with other general corporate purposes. International Gemmological Institute (India) Ltd offers services associated with the certification and accreditation of natural diamonds, lab-grown diamonds, studded jewelry, and colored stones.
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International Gemmological Institute IPO Day 2 Live Updates: Check out the anchor investors of the company
International Gemmological Institute (India) Ltd, backed by Blackstone, raised ₹1,900 crore from anchor investors on Thursday, ahead of its initial public offering (IPO).
Notable investors include the Government of Singapore, ICICI Prudential Mutual Fund, Axis Mutual Fund, Abu Dhabi Investment Authority, Nomura, SBI Life Insurance, and SBI General Insurance, as per a circular posted on the BSE website.
The company allocated around 4.56 crore equity shares to 68 funds at ₹417 per share, the highest price in the price band, bringing the total transaction value to ₹1,900.34 crore.
International Gemmological Institute IPO Day 2 Live Updates: Check out IGI IPO GMP today
International Gemmological Institute IPO GMP today is +95. This indicates International Gemmological Institute share price was trading at a premium of ₹95 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of International Gemmological Institute share price is indicated at ₹512 apiece, which is 22.78% higher than the IPO price of ₹417.
After analyzing the grey market activities from the past ten sessions, the present GMP ( ₹95) indicates a downward trend. The minimum GMP recorded is ₹75, while the maximum reached ₹145, as noted by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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