Mumbai based Jewellery Certification Company International Gemmological Institute-IGI files DRHP with SEBI for the proposed IPO; Key Details here

International Gemmological Institute-IGI is into Consumer Jewellery Certification and is looking raise funds through Fresh Issue and Offer For Sale

International Gemmological Institute-IGIIPO: Fresh Issue of Equity shares aggregating up to Rs.1250 crores. Offer for Sale of Equity shares aggregating up to Rs.2750 crores IPO

International Gemmological Institute-IGI IPO: International Gemmological Institute (India) Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Promoters of International Gemmological Institute-IGI are BCP Asia II TopCo Pte. Ltd. and holds 100% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1250 crores and an Offer for Sale of Equity Shares aggregating upto Rs 2750 crores.
• Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,250 Crs andby Promoter selling shareholder is BCP Asia II TopCo Pte. Ltd. who will offload Equity Shares aggregating upto Rs2750 crores...

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Objects of the issue:
1) Rs1100 crores to be spent towards payment for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoters and, 2) General corporate Purpose.

About Company:
Established in 1999, International Gemmological Institute (or IGI) is an independent certification and accreditation services provider for diamonds, studded jewelry and colored stones certifications. Company is part of the International Gemmological Institute (“IGI”) group, and is responsible for the operation of the business under the “IGI” brand exclusively in India and Türkiye.

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About Industry:
According to the Redseer Report (see pages 113 and 133 of “Industry Overview”), the global jewelry market, which includes studded jewelry, is expected to grow at a CAGR of 3% to 6% from CY2023 to CY2028, and global diamond consumption is expected to grow at a CAGR of 6% over the same period. As the studded jewelry market grows, demand for certification is likely to rise, and certifications of diamonds, studded jewelry and colored stones is expected to grow at a CAGR of 5% to 10% from CY2023 to CY2028, with laboratory-grown diamonds certification leading the certification growth by volume, as per the Redseer Report

Source: SEBI, BSE, NSE, DRHP, International Gemmological Institute-IGI, Industry Data

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