International Gemmological Institute IPO last Date: IGI IPO closes on December 17. The IPO opened on December 13. The issue has been subscribed to a total of 0.77 times as of December 16 (Day 02). The retail buyers have booked the issue 2.58 times and employees 7.13 times while the NIIs have 0.88 times.
International Gemmological Institute IPO GMP
The shares of the International Gemological Institute were trading at a premium of 30% in the grey market. This indicates that the stock might list around a price of Rs 542 in the grey market. The grey market is an unofficial place to trade shares ahead of listing. Market participants keep an eye on GMP to track listing gains.
International Gemological Institute IPO review
“If we attribute FY25 annualized earnings to its post-IPO fully diluted paid-up equity capital, the asking price is at a P/E of 82.90. Based on FY24 earnings, the P/E stands at 110.90, suggesting that the issue appears fully priced,” said Bajaj Broking in an IPO note.
“With India holding a 95% share of the global diamond polishing market by volume, IGI, as the market leader, is well-positioned to benefit from this dominance in the long term. However, despite the high valuations, the industry’s positive growth trends may support IGI’s future prospects. Thus, we recommend a “Subscribe for Long Term” rating to this issue,” said Choice Broking.
International Gemological Institute IPO Details
The shares allotment of IGI IPO is likely to be finalised on December 18. The listing of the shares on the exchanges – NSE and BSE – is likely to take place on December 20. The company wants to raise Rs 4,225 crore through a combination of fresh shares and an offer for sale. The price band ranges from Rs 397 to Rs 417 per equity share. Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company, and SBI Capital Markets are the book-running lead managers of the IPO. Kfin Technologies is the registrar for the issue.
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