International Gemmological Institute IPO Opens Today: Check The Details

The highly anticipated Initial Public Offering (IPO) of International Gemmological Institute Ltd. (IGI) has officially launched today. Upon its market debut, the IPO successfully raised ₹1,900.35 crore from various anchor investors.

Furthermore, the company has set aside 4,55,71,942 equity shares, or 4.55 crore shares, for these anchor investors at an allocation price of ₹417 per share, with a nominal face value of ₹2 each.

According to market sources, in the grey market, unlisted shares of the International Gemmological Institute are currently trading with a premium of ₹75, reflecting an increase of 17.99%, bringing the total to ₹492 per share compared to the upper end of the price band of ₹417.

The notable anchor investor pool for IGI's public offering includes prominent entities such as the Government of Singapore, the Monetary Authority of Singapore, Nomura Funds, Abu Dhabi Investment Authority, Government Pension Fund Global, Fidelity, Pinebridge Global Funds, Eastspring Investments, Carmignac Portfolio, and Natixis International Funds.

In fact, retail investors interested in the IGI IPO can participate by bidding on lots of 35 shares, and they may bid in multiples of that amount. A retail investor needs a minimum investment of ₹14,595 to participate in one lot consisting of 35 shares, while the maximum bid can go up to just under ₹2,00,000 for up to 13 lots, which totals 455 shares.