IGI Share Price, IPO Listing Today: The company’s shares hit the D-Street at Rs 510, a premium of 23% on the National Stock Exchange. While on BSE, the stock was listed at Rs 505, a premium of 21% to the issue price.
International Gemological Institute IPO GMP
IGI shares were attracting a premium of more than 38% in the grey market ahead of listing. The grey market is an unofficial place to trade shares. Market participants monitor GMP to track listing gains.
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International Gemological Institute IPO review
“At the upper price band company is valuing at a P/E of 43.75x, with a market cap of Rs 18,020.8 crore post issue of equity shares and return on net worth of 76.58%. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO,” said Anand Rathi Research in an IPO note.
International Gemological Institute IPO Details
The IPO was opened for bidding from December 13 to December 17. The shares allotment of IGI IPO was finalised on December 18. The company raised Rs 4,225 crore through a combination of fresh shares and an offer for sale. The price band ranged 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.
About International Gemological Institute
IGI (India) is the world’s second-largest independent certification and accreditation services provider among their global peers for loose stones and studded jewellery and in an industry characterized by barriers to entry with first mover and global market leader in providing certification services for the fast-growing laboratory grown diamond industry and extensive range of services for certification and accreditation services provided to a diverse group of customers along the value chain.
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