International Gemmological Institute IPO concludes with over 33x subscription on Day 3; QIBs, employees lead, GMP surges

International Gemmological Institute IPO garnered Rs 1,900 crore from anchor investors.

International Gemmological Institute IPO got subscribed 33.78 times on the concluding day of share sale on December 17.

The initial share sale by the diamond grading firm International Gemmological Institute (India) Ltd received bids for 197 crore shares against 5.85 crore shares on offer, as per NSE data.

Retail Individual Investors (RIIs) part got subscribed 11.21 times while the category for non-institutional investors received 24.84 times subscription. The portion for Qualified Institutional Buyers (QIBs) fetched 45.80x subscription.

Blackstone-backed International Gemmological Institute (India) Ltd on Thursday mobilised Rs 1,900 crore from anchor investors.

Check All IPO News Here

The Rs 4,225-crore issue has a price band of Rs 397-417 per share.

The issue is a combination of a fresh issue of equity shares worth Rs 1,475 crore and an Offer-for-Sale (OFS) valued at Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone.

The shares of the company are expected to be allotted to successful bidders on 18th December, while the listed is proposed to take place on both BSE and NSE on 20th December.

International Gemmological Institute IPO GMP Today Price

According to market observers tracking the grey market activities, the shares of International Gemmological Institute are commanding a GMP of nearly 30 percent in the unofficial market. Investorgain quoted a GMP of Rs 125 for the shares of the company, indicating a listing gain of almost 30 percent.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.