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International Gemmological Institute’s shares were listed at Rs 510 apiece on the NSE, which is 22.3 per cent higher than the issue price of 417 apiece.
International Gemmological Institute IPO Listing.
International Gemmological Institute IPO Listing: Diamond grading firm International Gemmological Institute (India) Ltd on Friday made a strong stock market debut with its shares being listing at 22.3 per cent premium. Its shares were listed at Rs 510 apiece on the NSE, which is 22.3 per cent higher than the issue price of 417 apiece.
On the BSE, International Gemmological Institute’s shares listed at Rs 504.85 per share, a 21.06 per cent premium over the listing gains.
The initial public offer of diamond grading firm International Gemmological Institute (India) Ltd, which was open between December 13 and December 17, received a 33.78 times subscription on the closing day of bidding on Tuesday. The Rs 4,225-crore initial share sale received bids for 1,97,83,66,950 shares against 5,85,60,902 shares on offer, as per NSE data.
The company proposes to utilise the proceeds from the fresh issue for the acquisition of IGI Belgium Group and IGI Netherlands Group from promoter, and general corporate purposes.
International Gemmological Institute (India) Ltd provides services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones.
