International Gemological Institute (IGI) India a prominent player in Independent accreditation and certification services, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for its highly anticipated IPO worth ₹4000 crores. This public offering aims to raise approximately ₹4000 crores through a combination of a fresh issue and an offer for sale. The IPO is expected to include a fresh issue of ₹1250 crores and an offer for sale (OFS) of up to [.] equity shares. The company plans to list its shares on both NSE and BSE.
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International Gemological Institute IPO Details
- IPO Date: Not yet announced.
- Issue Type: Book-built issue.
- IPO Size: Approx. ₹4000crores
- Fresh Issue: ₹1250 crores
- Offer for Sale: Up to [.] equity shares
- Face Value: ₹2 per share
- Listing: NSE, BSE
- Retail Quota: 10%
- QIB Quota: 75%
- HNI Quota: 15%
About the IPO
International Gemological Institute (IGI) India Limited, based in Mumbai, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for its upcoming ₹4,000 crore IPO. The IPO comprises both fresh issue and offer-for-sale (OFS) components. The OFS includes shares worth ₹2,750 crore offered by the promoter, BCP Asia II TopCo Pte. Ltd., while the fresh issue will raise up to ₹1,250 crore. The face value of each equity share is ₹2.
As outlined in the draft documents, the company plans to allocate up to 75% of the public issue to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to retail investors. SBI Capital Markets Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, and Axis Capital Limited are the Book Running Lead Managers (BRLMs) for the offering, with KFin Technologies Limited acting as the registrar.
Financial Performance
The firm reported a profit of ₹124.80 crores for the March quarter of FY23, bringing its total profits for the fiscal year 2023 to ₹324.74 crores. Revenue has shown consistent growth, rising from ₹374.28 crores in CY21 to ₹499.33 crores in CY22. Profits have also increased, moving from ₹171.53 crores in FY21 to ₹241.76 crores in CY22.
Company Overview
IGI is the world’s second-largest provider of independent accreditation and certification services, holding a 33% global market share in the certification of diamonds, studded jewelry, and colored stones. In India, IGI commands a 50% share of the certification market.
International Gemological Institute IPO Documents
| Document | Link |
|---|---|
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Financial Report
| Fiscal Year | Revenue | Expense | Profit After Tax |
|---|---|---|---|
| 2021 | ₹374.29 | ₹138.24 | ₹171.53 |
| 2022 | ₹499.33 | ₹169.97 | ₹241.76 |
| 2023 | ₹648.66 | ₹204.88 | ₹324.74 |
| 2024 | ₹215.66 | ₹48.13 | ₹124.80 |
International Gemological Institute IPO Valuation FY-2023
| Earning Per Share (EPS): | ₹8.18 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 76.58% |
| Net Asset Value (NAV): | ₹14.09 |
Objects of the Issue
- Payment of the purchase consideration for the acquisition of the IGI Belgium Group and IGI Netherlands Group from our Promoter
- General corporate purposes
IPO Lead Managers
- Axis Capital Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- SBI Capital Markets Limited
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