The initial public offering (IPO) of International Gemmological Institute was fully subscribed on Tuesday, after having opened for bidding on December 13, 2024.
The International Gemmological IPO had been fully booked on its final day of bidding by 10:20 AM on December 17, 2024.
Breaking it down by investor categories, the retail investors’ portion was subscribed 3.13 times, while the non-institutional investors (NII) segment saw a subscription of 1.38 times. However, the qualified institutional buyers (QIB) category lagged behind with a subscription of just 0.09 times.
The company aims to raise Rs 4,225 crore, including a fresh issue of Rs 1,475 crore and an OFS of Rs 2,750 crore.
Shares are priced between Rs 397-417 each, and investors can apply for a minimum of 35 shares and multiples thereafter. The company, a key player in the gems and jewellery certification industry, is likely to draw interest from investors familiar with the sector.
