IGI India Files For Rs.4000 Cr IPO With SEBI

The International Gemological Institute (IGI) India, a prominent player in the certification and accreditation industry, has taken a significant step towards launching an initial public offering (IPO). The company, owned by Blackstone through its affiliate BCP Asia II TopCo, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). This move marks a pivotal moment for IGI, which is known for its expertise in certifying natural diamonds, laboratory-grown diamonds, studded jewellery, and coloured stones.

IGI’s IPO Details and Use of Proceeds

The IGI IPO comprises a fresh issue of shares worth up to Rs 1,250 crore and an offer for sale (OFS) amounting to Rs 2,750 crore, with a face value of Rs 2 per share. The OFS involves the sale of equity shares by BCP Asia II TopCo. The company plans to use the net proceeds from the IPO for the acquisition of IGI Belgium Group and IGI Netherlands Group from its promoter and for general corporate purposes. The book-running lead managers for this IPO include Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets.

IGI’s Market Leadership and Industry Insights

IGI holds a commanding presence in the global market, being one of the largest independent certification and accreditation service providers in the diamond, studded jewellery, and coloured stones industry. In CY2023, IGI captured approximately 33 per cent of the global market share based on the number of certifications performed, according to the Redseer Report. India, the world’s largest centre for diamond cutting and polishing, accounts for about 95 per cent of the world’s polished diamonds by volume, and IGI commands a 50 per cent market share in the Indian certification market.

Conclusion: The upcoming IPO of IGI India is poised to reinforce its market position and support its global expansion plans. As the company looks to raise funds for strategic acquisitions and corporate growth, it continues to be a key player in the global diamond certification and accreditation industry.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.