Blackstone-backed International Gemmological Institute IPO to hit D-Street on December 13, to raise Rs 4,225 crore

International Gemmological Institute's anchor book will open on December 12 for a day, and the issue will close for subscription on December 17.

Blackstone-backed International Gemmological Institute (India) is set to debut on Dalal Street with a Rs 4,225 crore initial public offering (IPO) on December 13. The price band for the offer will be announced on December 9.

The IPO comprises a fresh issuance of shares worth Rs 1,475 crore and an offer-for-sale of Rs 2,750 crore by promoter BCP Asia II TopCo Pte.

Blackstone plans to list IGI shares on the BSE and NSE on December 20. The anchor book will open on December 12 for a day, and the issue will close for subscription on December 17.

Also Read | Blackstone-backed International Gemmological Institute files draft papers to raise Rs 4,000 crore via IPO

The book-running lead managers for the public issue are Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company, and SBI Capital Markets.

The Mumbai-based company has reserved Rs 2 crore worth of shares for its employees. Additionally, up to 75 percent of the net offer size (excluding the employee portion) is reserved for qualified institutional investors, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.

IGI will allocate Rs 1,300 crore from the fresh issue proceeds for the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter. The remaining funds will be used for general corporate purposes, while the offer-for-sale proceeds will be received by the promoter.

IGI India provides services of the certification and accreditation of natural diamonds, laboratory grown diamonds, studded jewellery and coloured stones as well as the offering of educational programs.

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