IGI Files Rs 4,000 Cr IPO: Blackstone-owned Diamond Grader Aims for Growth
By Rediff Money Desk, New Delhi Aug 23, 2024 12:07
International Gemmological Institute (IGI), a Blackstone-owned diamond grading firm, has filed for a Rs 4,000 crore IPO. The IPO includes a fresh issue and OFS by promoter BCP Asia II TopCo Pte Ltd. IGI aims to use proceeds for acquisitions and general corporate purposes.
![IGI Files Rs 4,000 Cr IPO: Blackstone-owned Diamond Grader Aims for Growth](https://im.rediff.com/money/2021/jul/13ipo1.jpg)
Illustration: Dominic Xavier/Rediff.com
New Delhi, Aug 23 (PTI) Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd, has filed preliminary papers with capital markets regulator Sebi to float Rs 4,000 crore through an initial public offering (IPO).
The initial share-sale is a combination of a fresh issue of equity shares worth Rs 1,250 crore and an Offer-For-Sale (OFS) valued at Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone, according to the draft red herring prospectus (DRHP).
The company proposes to utilize the proceeds from the fresh issue for the acquisition of IGI Belgium Group and IGI Netherlands Group from promoter and general corporate purposes.
International Gemmological Institute (India) Ltd provides services related to the certification and accreditation of natural diamonds, laboratory grown diamonds, studded jewellery and coloured stones.
IGI is the world's second largest independent certification and accreditation services provider based on revenue for CY2023 among global peers for diamonds, studded jewellery and coloured stones certifications, with a global market share of approximately 33 per cent, according to the Redseer Report.
Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets are the book running lead managers to the issue.
The initial share-sale is a combination of a fresh issue of equity shares worth Rs 1,250 crore and an Offer-For-Sale (OFS) valued at Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone, according to the draft red herring prospectus (DRHP).
The company proposes to utilize the proceeds from the fresh issue for the acquisition of IGI Belgium Group and IGI Netherlands Group from promoter and general corporate purposes.
International Gemmological Institute (India) Ltd provides services related to the certification and accreditation of natural diamonds, laboratory grown diamonds, studded jewellery and coloured stones.
IGI is the world's second largest independent certification and accreditation services provider based on revenue for CY2023 among global peers for diamonds, studded jewellery and coloured stones certifications, with a global market share of approximately 33 per cent, according to the Redseer Report.
Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets are the book running lead managers to the issue.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- FSN E-Commerce Ventu
- 226.35 (+ 7.58)
- 44589267
- Rajnish Wellness
- 4.34 (+ 9.60)
- 38391981
- Reliance Power L
- 34.45 ( -4.99)
- 37623177
- GTL Infrastructure
- 2.83 ( -1.39)
- 30672774
- IFL Enterprises
- 1.45 ( -1.36)
- 27596328
MORE NEWS
![Jacqueline...](https://im.rediff.com/80-80/money/2014/may/25ambassador4.jpg)
Jacqueline Fernandez is EaseMyTrip's New Brand...
EaseMyTrip.com has announced Bollywood actress Jacqueline Fernandez as its new brand...
![Hong Kong Aims to...](https://im.rediff.com/80-80/money/2020/oct/25travel.jpg)
Hong Kong Aims to Double Indian Tourists in 2024
Hong Kong Tourism Board targets doubling Indian tourists in 2024, leveraging events,...
Fabrication Bazar Raises USD 3 Million in Funding
Fabrication Bazar, a manufacturing tech startup, secured USD 3 million in funding led...