International Gemological Institute – a company that issues certificates for diamonds and jewellery. It will open its IPO (Initial public offering) on December 13. Investors can bid for this issue until December 17. On December 20, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will list the company’s shares.
The company wants to raise Rs 4,225 crore through this issue. To this end, the company’s existing investors are selling 65,947,242 shares worth Rs 2,750 crore, and the company is issuing 35,371,702 fresh shares worth Rs 1,475 crore.
What is the minimum and maximum amount an investor can invest?
The International Gemological Institute has fixed the price band of the IPO at ₹397-₹417. Retail investors can bid for a minimum of one lot i.e. 35 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹417, then you will have to invest ₹14,595 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 455 shares. For this, investors will have to invest ₹189,735 as per the upper price band.
Retail investors have reserved 10% of the issue.
The company reserved 75% of the issue for qualified institutional buyers (QIB). Additionally, the company allocated 10% for retail investors and reserved the remaining 15% for non-institutional investors (NII).
In February 2019, they formed the International Gemological Institute.
The International Gemological Institute formed in February 2019, certifies and grades diamonds, gemstones and jewellery. Its report contains information about the colour, cut, clarity and carat weight of the stone. Apart from this, it also provides courses related to gems and jewellery. The company has a research department.
The company has 31 labs around the world. Apart from this, there are 18 gemology schools in which thousands of students graduate every year. It is the second-largest independent entity in the world in terms of certifying diamonds and jewellery. This industry is a very high barrier, that is, entry of any other company into it is very difficult.
