Shares of International Gemmological Institute (IGI), which made a strong debut on the Indian stock market in December 2024, continue to remain volatile. In today’s trading session (February 27), the share price of the company was down nearly 2%, trading at Rs 399.15, slipping below its listing price. Despite a bumper listing, the stock has struggled to maintain its upward momentum.
Over the past month, the share price of International Gemmological has seen a steep 17% drop, and since its market debut, it has lost around 14% of its value.
However, it is in news on the back of its dividend announcement.
International Gemmological Institute: First-ever dividend declared
International Gemmological has announced its first-ever interim dividend, rewarding its shareholders. The company declared a 122% dividend on each stock with a face value of Rs 2, translating to a payout of Rs 2.44 per share.
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In its exchange filing on February 22, the company said, “The Board of Directors in their meeting held today i.e., Saturday, February 22, 2025, have approved payment of an interim dividend of ₹2.44 (Rupee Two and Forty Four Paise) i.e. (122%) per equity share of ₹2/- each (Rupees Two Only) for the financial year 2024 (i.e., January 01, 2024, to December 31, 2024).”
International Gemmological Institute dividend: Key dates for investors
The company’s board has fixed February 28, 2025, as the record date for the interim dividend. Investors holding shares on this date or before will be eligible for the payout.
International Gemmological IPO debut and stock market performance
International Gemmological listed on December 20, 2024, at a 22% premium over its issue price on the NSE and at Rs 504.85 per share on the BSE, a 21.06% premium. It had launched its IPO between December 13 and December 17, with a price band set at Rs 397 to 417 per share. The company entered the stock market with a public issue of Rs 4,225 crore, attracting an overwhelming subscription of 34 times.
The company has a market capitalisation of Rs 17.24KCr. Its 52 week high stands at Rs 642.30 per share and low at Rs 396.70 per share.
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