 "International Gemmological shares clock all time high on BSE; here's why")
Newly listed International Gemmological Institute India (IGI) shares hit a 10 per cent upper band on BSE, logging an all time high at Rs 580.45 per share. The stock soared after the company acquired 100 per cent stake in IGI Netherlands B.V. and International Gemmological Institute BV.
Around 12:07 PM, International Gemmological Institute or IGI share price was up 10 per cent at Rs 580.45 per share on BSE. In comparison, the BSE Sensex was up 0.07 per cent at 78,527.04. The market capitalisation of the company stood at Rs 25,084.71 crore. The 52-week high of the stock stood at Rs 580.45 per share and the 52-week low stood at Rs 454.55 per share.
"We would like to inform you that the Company has acquired 100 per cent stake in IGI Netherlands B.V. and International Gemmological Institute BV for a consideration of $ 88,440,543 and $ 69,761,445 respectively," the filing read.
It added: Pursuant to acquisition now IGI Netherlands B.V. and International Gemmological Institute BV are wholly owned subsidiaries of the company.
The turnover of IGI Netherlands B.V. for the period January 1, 2024, till September 30, 2024, was Rs 103.29 crore. The primary business of IGI Netherlands B.V. through its subsidiaries is to provide services related to certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewelry, and colored stones as well as the offering of educational programs.
IGI Netherlands B.V. has presence in Dubai, Israel, Thailand, Hongkong, China and Egypt.
Also Read
That apart, the turnover of International Gemmological Institute BV for the period January 1, 2024, till September 30, 2024, was Rs 104.146 crore.
The principal business of International Gemmological Institute BV is, among others, to carry on the business of diamond screening and detection services (authenticity and quality assessment and issuance of diamond certificates and reports), diamond sorting services, laser scribing of diamonds, and courses in gemology. Shares of International Gemmological Institute (India) made a decent D-Street debut on Friday, December 20, 2024, in an otherwise weak market. On the National Stock Exchange (NSE), IGI shares listed at Rs 510, reflecting a premium of 22.30 per cent per share against the issue price of Rs 417.
The International Gemological Institute (IGI) is one of the world's largest and most respected independent organizations for grading and certifying diamonds, gemstones, and jewelry. Established in 1975 and headquartered in Antwerp, Belgium, IGI operates globally, with laboratories and offices in major diamond and jewelry markets.