 "IGI IPO closes today: Check subscription status, GMP, and listing schedule")
IGI IPO Subscription status: The three-day subscription window for the Rs 4,225 crore initial public offering (IPO) of International Gemmological Institute (India) is set to conclude today, Tuesday, December 17, 2024.
The IGI IPO, which opened for public subscription on Friday, December 13, 2024, has so far witnessed subdued participation from investors. The public offering has received bids for 4,24,06,035 shares against the 5,85,60,902 shares on offer, resulting in a subscription of 0.72 times by the end of December 16, 2024.
Among the categories, Retail Individual Investors (RIIs) oversubscribed their portion by 2.44 times, followed by Non-Institutional Investors (NIIs) at 0.83 times, and Qualified Institutional Buyers (QIBs) at 0.09 times, according to data available on the National Stock Exchange (NSE). Meanwhile, the quota reserved for employees has been oversubscribed by 6.69 times.
The IGI IPO is available at a price band of Rs 397-417 per share, with a lot size of 35 shares. Accordingly, investors can bid for a minimum of 35 shares and in multiples thereof. A retail investor requires a minimum of Rs 14,595 to bid for 1 lot (35 shares) of IGI IPO, while Rs 1,89,735 is required to bid for the maximum 13 lots (455 shares). ALSO READ: Inventurus Knowledge Solutions IPO allotment
IGI IPO grey market premium (GMP) today
The unlisted shares of IGI were commanding a strong premium on Tuesday, December 17, 2024. The company's shares were trading at Rs 542 apiece in the grey market, reflecting a premium of Rs 125 or 30 per cent over the upper end of the IPO price band of Rs 417, according to sources tracking grey market activities.
IGI IPO allotment, listing Date
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As the IGI IPO closes for subscription today, the basis of allotment of the company’s shares is expected to be finalised tentatively tomorrow, Wednesday, December 18, 2024, with shares credited to investors' demat accounts by Thursday, December 19, 2024.
IGI shares are scheduled to list on the BSE and NSE tentatively on Friday, December 20, 2024.
IGI IPO review
Brokerage firms AUM Capital and Swastika Investmart have assigned a 'Subscribe' rating to the IGI IPO. READ MORE
IGI IPO registrar, BLRMs
KFin Technologies is the registrar for the issue, while Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company, and SBI Capital Markets are the book-running lead managers.
IGI IPO objective
IGI intends to utilise the net proceeds towards funding payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the promoter and for general corporate purposes.
About International Gemmological Institute (India)
International Gemmological Institute (India) offers certification for diamonds, gemstones, and jewelry. IGI provides grading reports analysing stone characteristics based on international standards. The company also offers educational courses, degree plans, and research services, operating 31 laboratories worldwide. IGI’s services include diamond grading, colored stone evaluation, and finished jewelry assessment, with a presence in multiple countries.