International Gemological Institute (India) Limited, headquartered in Mumbai, has filed its DRHP with market regulator SEBI in preparation for its upcoming ₹4,000 crore IPO. It contains both fresh issues and an offer-for-sale. In an offer-for-sale, the promoter offers shares worth ₹2,750 crore, while in a fresh issue it contains shares up to ₹1,250 crore. BCP Asia II TopCo Pte. Ltd. is the only promoter that is selling shares in OFS. The face value of this offering is ₹2 for each equity share.
According to the draft papers, the company will allocate no more than 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 BRLM (book running lead managers) for this offering, and KFin Technologies Limited is the registrar of the offer.
The company is planning to use the funds raised from the IPO for mainly two reasons. ₹1,100 crore will be used in Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from their Promoter and the rest of the money will be used for general corporate purposes.
IGI is the world’s second-largest provider of independent accreditation and certification services. It holds a 33% global market share in diamonds, studded jewelry, and colored stones certifications. In India, it holds 50% of certifications.
The firm indicated by the end of the fiscal year 2023 that its profits were at ₹ 124.80 crores for the March quarter it reported and ₹ 324.74 crores throughout the whole financial year 2023. From ₹499.33 in CY22, the income has steadily increased to ₹374.28 crore in CY21, whereas profits have moved from ₹241.76 crore in CY22 to ₹171.53 crore in FY21.
The company is the leader in lab-grown diamonds, the fastest-growing sub-segment of the diamond market, possessing a 65% market share. IGI was established in 1975 and currently consists of 31 branches and 18 schools of gemology. Its commitment to honesty, precision, and excellence remains its first priority.
International Gemological Institute IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
International Gemological Institute Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| Dec 2021 | ₹374.29 | ₹138.24 | ₹171.53 |
| Dec 2022 | ₹499.33 | ₹169.97 | ₹241.76 |
| Dec 2023 | ₹648.66 | ₹204.88 | ₹324.74 |
| Mar 2024 | ₹215.66 | ₹48.13 | ₹124.80 |
IGI India IPO Valuation – FY2023
International Gemological Institute (IGI India) IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| 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 |
Peer Group Comparison
There are no listed companies in India or internationally among (International Gemological Institute) (India) IGI’s global peers.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| – | NA | NA | NA | NA | – Cr. |
| – | NA | NA | NA | NA | – Cr. |
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 aka Merchant Bankers
- Axis Capital Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- SBI Capital Markets Limited
