International Gemmological Institute IPO day 1: GMP, review, other details. Good or bad for investors? | Stock Market News

International Gemmological Institute IPO: After raising ₹1,900.35 crore from the anchor investors, the initial public offering (IPO) of International Gemmological Institute (India) Limited has opened today for other investors (retail, employees, NII and QIB) and will remain open until 17th December 2024. The globally recognised company, which certifies diamonds, gemstones and jewellery, has fixed the International Gemmological Institute IPO price band at ₹397 to ₹417 apiece. The public issue worth ₹4,225 crore is a mix of fresh problems and an offer for sale (OFS). The book build issue is proposed for listing on the BSE and the NSE. After the International Gemmological Institute IPO subscription opens, company shares are available in the grey market. According to stock market observers, International Gemmological Institute shares are available at a premium of ₹133 in the grey market today.

International Gemmological Institute IPO details

1] International Gemmological Institute IPO GMP: According to stock market observers, International Gemmological Institute shares are available at a premium of ₹133 in the grey market today.

2] International Gemmological Institute IPO date: The public issue will remain open for bidders from 13th to 17th December 2024.

3] International Gemmological Institute IPO price band: The globally recognised company, which certifies diamonds, gemstones, and jewellery, has fixed the IPO price band at ₹397 to ₹417 apiece.

4] International Gemmological Institute IPO size: The public issue will consist of a mix of fresh shares and OFS. It aims to raise ₹4,225 crore, of which ₹2,750 crore is reserved for the OFS route.

5] International Gemmological Institute IPO lot size: A bidder can apply in lots, and one lot of the public issue comprises 35 company shares.

6] International Gemmological Institute IPO allotment date: The most likely date for share allotment is Wednesday, December 18th, 2024.

7] International Gemmological Institute IPO registrar: KFin Technologies Limited has been appointed official registrar of the book build issue.

8] International Gemmological Institute IPO Lead Managers: Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets have been appointed lead managers of the public issue.

9] International Gemmological Institute IPO listing date: The most likely date for listing company shares is 20th December 2024, i.e., Friday next week.

International Gemmological Institute IPO: Good or bad?

10] International Gemmological Institute IPO review: Assigning a ‘subscribe’ tag to the public issue, Palak Devadiga, Research Analyst at StoxBox, said, “IGI offers a full range of services covering grading and classification across different stone types while providing value-added services to its customers. The company caters to a diverse customer base while building strong client relationships and maintaining the quality of its services. IGI has demonstrated substantial financial growth, with a revenue CAGR of 32.3% from CY21 to CY23. Its PAT increased significantly from Rs. 1,715 million in CY21 to Rs. 3,247 million in CY23, reflecting a CAGR of 37.6%. The company’s strategic presence and leadership in India’s laboratory network provide a competitive edge nationally and internationally. The issue is valued at a P/E of 51.0x on the upper price band based on CY23 earnings, which is fairly valued. Therefore, we recommend a “SUBSCRIBE” rating for this issue with a medium to long-term investment perspective.”

Giving a ‘subscribe’ tag to International Gemmological Institute IPO, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, “International Gemmological Institute (India) Limited is in certification of diamonds, gemstones and jewellery. Their financial performance in the last two years has remained robust due to the expanding business of lab diamond certification. This business is expected to grow further in India; hence, the company having a monopoly in this business is expected to reap the benefit of this business scenario. They have just one peer in the natural diamond certification. Thus, their business in the natural diamond certification also faces limited challenges, which augurs well for the company. Hence, I suggest investors apply for the public issue irrespective of their time horizon.”

Swastika Investmart has also assigned a ‘buy’ rating to this mainboard IPO.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.