Blackstone-backed International Gemological Institute sets price band for Rs 4,225 crore IPO
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Blackstone-backed International Gemological Institute (IGI) India has set the price band for its initial public offering (IPO) at Rs 397-417 per share, aiming to raise Rs 4,225 crore. The three-day issue will open for subscription on December 13 and close on December 17. The offer comprises a fresh issue of Rs 1,475 crore and an offer for sale (OFS) of Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd. At the upper price band, the IPO values IGI India at a market capitalization of Rs 16,545 crore. Anchor bidding will begin on December 12, with the allotment of shares finalized on December 18. The stock is expected to debut on exchanges on December 20 and refunds and credit of shares would be processed by December 19. About IGI (India) Part of the globally recognized IGI Group, the company certifies natural diamonds, lab-grown diamonds, jewelry, and colored stones, while also offering gemology education. IGI India holds a 50% market sha...