03 December 2024, 11:56 AM
International Gemmological Institute (India) Ltd.
Blackstone-owned International Gemological Institute (India) has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 4,000 crore through an initial public offering (IPO). The company’s IPO 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, an affiliate of Blackstone.
The company proposes to utilise the net proceeds for payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter, and for the general corporate purposes. Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets are the book-running lead managers for the IPO.
International Gemological Institute (India) provides services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones.