International Gemmological IPO Anchor Allocation at 45%

International Gemmological Institute IPO saw a significant anchor allocation response, with 45% of the total IPO size subscribed by anchor investors. Out of the 101,318,944 shares on offer, anchors picked up 45,571,942 shares, demonstrating strong market confidence. The anchor allocation details were reported to the stock exchanges on December 12, 2024, just ahead of the IPO opening on December 13, 2024.

The book-built issue of ₹4,225.00 crores comprises a fresh issue of 35,371,702 shares aggregating to ₹1,475.00 crores and an offer for sale of 65,947,242 shares aggregating to ₹2,750.00 crores. The price band is set at ₹397 to ₹417 per share, with a face value of ₹2 per share. This includes a share premium of ₹415 per share at the upper end of the price band.

The anchor allocation process, which took place on December 12, 2024, saw strong participation from institutional investors. The anchor allocation was made at the upper end of the price band, ₹417 per share, indicating robust demand and confidence in the company's prospects.

After the anchor allocation, the overall allocation of the IPO looks as follows:

Notably, the 45,571,942 shares allocated to anchor investors were reduced from the original Qualified Institutional Buyers (QIB) quota. The QIB quota has been adjusted to ensure that the overall allocation to QIBs, including the anchor portion, remains within regulatory limits.

The lock-in period for anchor investors is an important aspect of the allocation. For International Gemmological Institute IPO, the lock-in details are as follows: 

• Lock-in Period (50% Shares): January 17, 2025 
• Lock-in Period (Remaining Shares): March 18, 2025

This lock-in period ensures that anchor investors maintain their investments for a specified duration, stabilizing the stock price after listing.
 

Anchor Investors in International Gemmological Institute IPO 

Anchor investors are typically large institutional investors allotted shares in an IPO before it opens to the public. The anchor allocation process is a crucial part of the IPO, as it helps in price discovery and builds confidence among retail investors. The strong response from anchor investors often sets a positive tone for the public issue and can influence the overall subscription levels.

On December 12, 2024, International Gemmological Institute IPO completed the bidding for its anchor allocation. There was a robust response as the anchor investors participated in the book-building process. A total of 45,571,942 shares were allotted to 68 anchor investors. The allocation was done at the upper IPO price band of ₹417 per share, resulting in an overall anchor allocation of ₹1,900.35 crore. The anchors have already absorbed 45% of the total issue size of ₹4,225.00 crore, indicating strong institutional demand.

Out of the total allocation of 45,571,942 equity shares to the Anchor Investors, 15,227,695 equity shares (i.e., 33.41% of the total allocation) were allocated to 9 domestic mutual funds through 33 schemes.

Key IPO Details:

• IPO Size: ₹4,225.00 crores 
• Shares Allocated to Anchors: 45,571,942 
• Anchor Subscription Percentage: 45% 
• Listing Date: December 20, 2024 
• IPO Opening Date: December 13, 2024

About International Gemmological Institute (India) Limited and How to Apply for International Gemmological  IPO 

Incorporated in February 1999, International Gemmological Institute (India) Limited is a globally recognized organization certifying and grading diamonds, gemstones, and jewellery. IGI provides independent grading reports that analyze and certify the characteristics of stones using internationally recognized standards. As of September 30, 2024, IGI's certification business operates through 31 branches and laboratories in 10 countries, including key markets like Surat and Mumbai in India, Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai. As of September 30, 2024, the company has a network of 20 laboratories and 9 schools under the Pre-Acquisition Group, supported by 843 employees, including 316 gemologists and other professionals in research, education, and certification processes.