International Gemological Institute IPO aims to raise Rs 4,225 crore. The IPO opens on December 13 and closes on December 17. The issue is a combination of fresh shares and an offer for sale. The company’s IPO price band ranges from Rs 397 to Rs 417 per equity share.
International Gemological Institute IPO GMP
The company’s shares were looking at a premium of more than 31% in the grey market, indicating a listing price of Rs 548. The grey market is an unregulated place to trade shares. Market participants keep their eye on GMP to track listing gains.
International Gemological Institute IPO review
“The issue is priced at a P/BV of 25.71 based on its NAV of Rs. 16.22 as of September 30, 2024, and at a P/BV of 8.51 based on its post-IPO NAV of Rs. 49.02 (at the upper cap). 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.
International Gemological Institute IPO allotment and listing
The allotment of International Gemological Institute shares is likely to be on December 18. The stock is expected to hit the bourses BSE and NSE on December 20, as per the tentative schedule.
International Gemological Institute IPO minimum investment required
A retail application can bid for as minimum as one lot of 35 shares, which amounts to Rs 14,595. There are different lot sizes for small and big NIIs. The minimum lot size investment for a small NII is 14 lots of 490 shares, amounting to Rs 2,04,330 and for a big NII, it is 69 lots of 2,415 shares, amounting to Rs 10,07,055.
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Lead managers
Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company, and SBI Capital Markets are the book-running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.
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