Int’l Gemmological IPO Subscribed 17%

New Delhi: The initial public offer of diamond grading firm International Gemmological Institute (India) Ltd got subscribed 17 per cent on the first day of share sale on Friday. The initial share sale received bids for 98,72,800 shares against 5,85,60,902 shares on offer, as per NSE data.

The portion for Retail Individual Investors (RIIs) received 70 per cent subscription while the quota for non-institutional investors got subscribed 14 per cent. Blackstone-backed International Gemmological Institute (India) Ltd on Thursday mobilised Rs 1,900 crore from anchor investors.

The issue, with a price band of Rs 397 to Rs 417 per share, will conclude on December 17. The Rs 4,225-crore IPO 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.