The much-anticipated International Gemmological Institute IPO (Initial Public Offering) has created a buzz among investors, given its impressive subscription numbers and significant interest from institutional and retail participants alike. The IPO concluded on December 17, 2024, and all eyes are now on the IGI IPO allotment status, which is likely to be finalized on December 18, 2024. Here’s an in-depth look at the International Gemmological Institute IPO, including how to check the allotment status, GMP (grey market premium), subscription details, and key aspects of the offering.
Overview of the IGI IPO
The International Gemmological Institute IPO opened for subscription on December 13, 2024, and closed on December 17, 2024. The IPO had a price band of ₹397 to ₹417 per share, with a combination of a fresh issue and an offer for sale (OFS).
- IPO Size: ₹4,225 crore
- Fresh Issue: 3.54 crore equity shares worth ₹1,475 crore
- Offer for Sale (OFS): 6.59 crore shares amounting to ₹2,750 crore
- Listing Date: December 20, 2024
- Listing Exchanges: BSE and NSE
The IPO garnered robust demand across all investor categories, driven by the company’s strong market position in the gemological certification industry, high-quality financials, and positive market sentiment.
IGI IPO Subscription Details
The International Gemmological Institute IPO received overwhelming response from investors, with a total subscription of 33.77 times. Here’s a breakdown:
- Retail Portion: Subscribed 11.13 times
- Non-Institutional Investors (NIIs): Subscribed 24.83 times
- Qualified Institutional Buyers (QIBs): Subscribed 45.80 times
This strong response highlights the confidence of investors in the company’s growth prospects and its ability to maintain a leadership position in the industry.
IGI Ipo Allotment Date and Listing Timeline
The basis of allotment for the IPO is likely to be finalized today, December 18, 2024, and the key dates in the listing process are as follows:
- Allotment Finalization: December 18, 2024
- Credit of Shares to Demat Accounts: December 19, 2024
- Refunds to Unsuccessful Bidders: December 19, 2024
- Listing Date: December 20, 2024
Once allotted, investors will receive their shares directly in their demat accounts, and unsuccessful applicants will receive refunds promptly.
How to Check IGI IPO Allotment Status
Investors can check the IPO allotment status online through the official portals of BSE, NSE, or the IPO registrar, Kfin Technologies. Here’s how:
On BSE Website
- Visit the BSE allotment page: https://www.bseindia.com/investors/appli_check.aspx
- Select “Equity” as the Issue Type.
- Choose “International Gemmological Institute Limited” from the dropdown menu.
- Enter your Application Number or PAN.
- Verify by ticking “I am not a robot” and click “Search.”
Your IPO allotment status will appear on the screen.
On Kfin Technologies Portal
- Visit the Kfin Technologies IPO status page: https://kosmic.kfintech.com/ipostatus/
- Select “International Gemmological Institute Limited” from the dropdown menu.
- Choose an option: Application Number, Demat Account, or PAN.
- Enter the required details and Captcha code, then click “Submit.”
Your allotment status will be displayed.
Grey Market Premium (GMP) Analysis
The grey market premium (GMP) provides an estimate of the expected listing price of the IPO shares.
- International Gemmological Institute IPO GMP Today: ₹91 per share
- Issue Price: ₹417 per share
Based on the GMP, the estimated listing price is around ₹508 per share, reflecting a 22% premium over the issue price. The positive GMP indicates strong demand and investor sentiment in the secondary market.
Why the IGI IPO Stands Out
A. Industry Leadership
The International Gemmological Institute is a global leader in gemological certification services, known for its expertise, trust, and transparency in grading diamonds and gemstones.
B. Strong Financials
The company has demonstrated consistent revenue growth and profitability, making it an attractive investment opportunity for both retail and institutional investors.
C. Market Potential
With the growing demand for certified gemstones in global markets, the company is well-positioned to capitalize on this trend and expand its market share.
D. Experienced Management Team
The company’s leadership has decades of experience in the gemological industry, which ensures strong operational capabilities and strategic vision.
Key Risks to Consider
While the IPO has garnered significant interest, investors should also be aware of potential risks:
- Market Volatility: The listing gains depend on overall market sentiment, which can be influenced by economic and geopolitical factors.
- Competitive Pressure: The gemological certification market faces competition from regional and international players.
- Regulatory Challenges: Changes in regulations in key markets could impact the company’s operations and profitability.
Post-Allotment Steps for Investors
After the allotment is finalized, here’s what investors should do:
- Check Allotment Status: Use the methods outlined above to confirm your allotment.
- Monitor Refunds: Ensure that refunds (if applicable) are credited to your bank account promptly.
- Prepare for Listing Day: Decide whether to hold or sell the shares based on market conditions and personal investment goals.
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Conclusion
The International Gemmological Institute IPO has been a resounding success, with strong subscription numbers and positive grey market activity. The allotment process is expected to conclude today, and investors should take the necessary steps to check their allotment status and prepare for the listing on December 20, 2024.
With its strong fundamentals, industry leadership, and growth potential, the International Gemmological Institute IPO is expected to deliver significant value to its shareholders. However, investors should remain cautious and make decisions based on their risk appetite and investment objectives.