Mumbai4 days ago
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The initial public offer (IPO) of International Gemological Institute, a company that certifies diamonds and jewellery, will open on December 13. Investors will be able to bid for this issue till December 17. The company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 20.
The company wants to raise ₹4,225 crore through this issue. For this, the existing investors of the company are selling 65,947,242 shares worth ₹2,750 crore. Along with this, the company is issuing 35,371,702 fresh shares worth ₹1,475 crore.
If you are also planning to invest money in it, then we are telling you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
International Gemological Institute has fixed the price band of the IPO at ₹397-₹417. Retail investors can bid for a minimum of one lot i.e. 35 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 417, then you will have to invest ₹ 14,595.
Whereas, retail investors can apply for maximum 13 lots i.e. 455 shares. For this, investors will have to invest ₹ 189,735 as per the upper price band.
10% of the issue reserved for retail investors
The company has reserved 75% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 10% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
International Gemological Institute formed in February 2019 The International Gemological Institute, formed in February 2019, certifies and grades diamonds, gemstones and jewellery. Its report contains information about the color, cut, clarity and carat weight of the stone etc. Apart from this, it also provides courses related to gem and jewellery. The company has a research department.
The company has 31 labs across the world. Apart from this, there are 18 gemology schools which graduate thousands of students every year. It is the second largest independent entity in the world in terms of certification of diamonds and jewellery. This industry has a very high barrier, which means it is very difficult for any other company to enter it.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
