India News Get -BusinessUpdated International Gemological Institute IPO Pricing Details | BSE NSE
The initial public offering (IPO) of the International Gemological Institute, a company that certifies diamonds and jewelry, opened today. Investors will be able to bid on this issue until December 17. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 20.
The company aims to raise ₹4,225 crore through this issue. For this, the company’s existing investors are selling 65,947,242 shares worth ₹2,750 crore. Along with this, the company is issuing 35,371,702 new shares worth ₹1,475 crore.
If you are also planning to invest money in it, we tell you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
The International Gemmological Institute has set the IPO price range at ₹397 to ₹417. Individual investors can bid on at least one lot, i.e. 35 shares. If you apply for 1 lot as per the upper IPO price band of ₹417, then you will need to invest ₹14,595.
At the same time, individual investors can apply for a maximum of 13 lots, or 455 shares. For this, investors will have to invest ₹189,735 as per the upper price band.
10% of the issue reserved for individual investors
The company has reserved 75% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 10% of the share is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
The International Gemmological Institute, established in February 2019, certifies and grades diamonds, precious stones and jewelry. Its report contains information about the stone’s color, size, clarity and carat weight, etc. Apart from this, it also offers courses related to gemstones and jewelry. The company has a research department.
The company has 31 laboratories around the world. Apart from this, there are 18 gemology schools that graduate thousands of students every year. It is the second largest independent diamond and jewelry certification entity in the world. This industry has very high barriers, meaning it is very difficult for any other business to enter.
What is IPO?
When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.