International Gemmological Institute IPO - Day 1 Subscription at 0.11 Times

The opening day of International Gemmological Institute's initial public offering (IPO) has witnessed measured investor participation, with the overall subscription reaching 0.11 times by 2:21 PM on December 13, 2024. This initial response reflects the market's careful evaluation of the world's second-largest independent diamond and jewelry certification provider, which seeks to raise ₹4,225 crores through this offering.

The most notable aspect of day one's response has been the strong employee participation, reaching 1.80 times subscription, demonstrating internal confidence in the company's prospects. The retail segment has shown encouraging interest with 0.50 times subscription, while Non-Institutional Investors have participated at 0.08 times. The QIB portion is yet to see participation, though this is typical for institutional investors who often evaluate the issue over its entire subscription period.

Subscription Status of International Gemmological Institute IPO:

*As of 2:21 PM

Here are the subscription details for International Gemmological Institute IPO as of Day 1 (13th December 2024, 2:21 PM):

Total Applications: 1,23,126

Key Highlights:

• Overall subscription commenced at 0.11 times, reflecting measured initial market response
• Employee category demonstrated strong confidence with 1.80 times subscription
• Retail investors showed encouraging participation at 0.50 times subscription
• NII segment began with 0.08 times subscription, with stronger sNII participation at 0.15 times
• QIB portion awaits participation, typical for opening day
• Total bids received for 64.03 lakh shares worth ₹267.040 crores
• Applications reached 1,23,126, indicating broad initial interest
• Strong anchor book of ₹1,900.350 crores provides solid foundation

About International Gemmological Institute (India) Limited

Founded in 1999, International Gemmological Institute (India) Limited has established itself as a global leader in diamond, gemstone, and jewelry certification. Operating through 31 laboratories across 10 countries, including key markets like Surat, Mumbai, Antwerp, and New York, the company provides comprehensive certification services for both natural and lab-grown diamonds.

With 843 employees, including 316 gemologists, IGI has built a strong reputation in the gemological industry. The company's service portfolio encompasses diamond grading, colored stone evaluation, finished jewelry assessment, and educational programs through their network of 20 laboratories and 9 schools under the Pre-Acquisition Group.

Highlights of the International Gemmological Institute IPO:

• IPO type: Book Built Issue
• IPO size: ₹4,225.00 crores
• Fresh Issue: ₹1,475.00 crores
• Offer for Sale: ₹2,750.00 crores
• Face value: ₹2 per share
• Price band: ₹397 to ₹417 per share
• Lot size: 35 shares
• Minimum investment for retail investors: ₹14,595
• Minimum investment for sNII: ₹204,330 (14 lots)
• Minimum investment for bNII: ₹1,007,055 (69 lots)
• Employee discount: ₹39 per share
• Listing at: BSE, NSE
• IPO opens: December 13, 2024
• IPO closes: December 17, 2024
• Allotment date: December 18, 2024
• Refund initiation: December 19, 2024
• Credit of shares: December 19, 2024
• Listing date: December 20, 2024
• Lead Managers: Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd and SBI Capital Markets Limited
• Registrar: Kfin Technologies Limited