International Gemological Institute IPO
The International Gemological Institute (IGI) Initial Public Offering (IPO) concluded its subscription phase on December 17, 2024. Share allotment is expected to be finalized on December 18, 2024. The ₹4,225 crore IPO witnessed significant investor interest, with an overall subscription of 33.79 times.
IGI IPO: Key Details
The IGI IPO was open for subscription from December 13 to December 17, 2024. It aimed to raise ₹4,225 crore through a combination of a fresh issue (3.54 crore equity shares) and an offer-for-sale (6.59 crore shares). The basis of allotment is likely to be finalized on December 18, 2024, and the shares are expected to be listed on the stock exchange on December 20, 2024.
Subscription Highlights
The IGI IPO saw strong demand across all categories of investors:
- Qualified Institutional Buyers (QIBs): Subscribed 45.80 times with bids for 146.17 crore shares against 3.19 crore shares available.
- Non-Institutional Investors (NIIs): Subscribed 24.84 times with bids for 39.63 crore shares against 1.59 crore shares available.
- Retail Investors: Subscribed 11.22 times with bids for 11.93 crore shares against 1.06 crore shares reserved.
- Employee Category: Oversubscribed as the company received bids for 11.54 lakh shares against an offer of 55,865 shares.
In total, 197 crore shares were bid for, compared to the 5.85 crore shares on offer, resulting in an overall subscription of 33.79 times.
Price Band and Lot Size
- Price Band: ₹397–₹417 per share.
- Minimum Lot Size: 35 shares, requiring a minimum investment of ₹14,595.
- Small Non-Institutional Investors: Minimum 14 lots.
- Big Non-Institutional Investors: Minimum 69 lots.
Steps to Check IGI IPO Allotment Status
Investors can verify their allotment status via the BSE website or Kfin Technologies’ platform.
Check Allotment Status on BSE Website:
- Go to the BSE website.
- Select “Equity” under the “Issue Type” dropdown.
- Choose “International Gemological Institute (India) Limited” from the list of issue names.
- Enter your PAN or Application Number.
- Submit the details to view the status.
Check Allotment Status on Kfin Technologies Website:
- Visit the Kfin Technologies website.
- Select one of the servers provided.
- Find and select “International Gemological Institute (India) Limited” from the list of companies.
- Input your Application Number, Demat Account Number, or PAN.
- Complete the CAPTCHA verification.
- Click “Submit” to check your allotment.
About International Gemological Institute
Founded in 1999, the International Gemological Institute is a globally renowned organization specializing in diamond, jewelry, and gemstone certification and grading. It operates 31 laboratories worldwide and runs 18 gemology schools. The institute also offers a range of educational programs and certifications in jewelry grading and related fields.
What is IPO in stocks?
An IPO (Initial Public Offering) in stocks is the process by which a private company offers its shares to the public for the first time on a stock exchange. This marks the transition from a private entity to a publicly traded company.
Companies typically launch an IPO to raise capital for expansion, debt repayment, or other corporate purposes. Investors can purchase these shares during the IPO, becoming shareholders in the company.
Key features of an IPO include:
- Price Band: The range within which the shares are offered.
- Lot Size: The minimum number of shares that can be purchased.
- Listing: Once the IPO concludes, the company’s shares are listed and traded on the stock exchange.
Investors participate in IPOs to gain early access to a company’s potential growth, though risks exist due to market uncertainties.
FAQs
What is an IPO?
An IPO (Initial Public Offering) is when a private company offers its shares to the public for the first time to raise funds and become publicly traded on a stock exchange.
Why do companies go for an IPO?
Companies launch IPOs to raise capital for expansion, repay debts, fund new projects, or provide an exit strategy for early investors.
How can I apply for an IPO?
You can apply for an IPO through online trading platforms or your bank’s ASBA (Application Supported by Blocked Amount) facility.
What is the price band in an IPO?
The price band is the range within which the company sets the price for its shares during the IPO. Investors place bids within this range.
What is the lot size in an IPO?
The lot size is the minimum number of shares that can be purchased in an IPO. It varies for each IPO and is specified by the company.
How is IPO allotment done?
IPO allotment is done based on demand and the category of investors. If the IPO is oversubscribed, shares are distributed proportionally or via a lottery system for retail investors.
Where can I check the IPO allotment status?
You can check the allotment status on the stock exchange website (e.g., BSE) or the registrar’s website (e.g., KFin Technologies or Link Intime).
What happens after IPO allotment?
After allotment, shares are credited to your Demat account. The company’s shares are then listed on the stock exchange, allowing you to trade them.
Is investing in IPOs risky?
Yes, investing in IPOs involves risks as the stock’s performance post-listing depends on market conditions and the company’s growth prospects.
Can I sell IPO shares immediately after listing?
Yes, IPO shares can be sold immediately after listing on the stock exchange, subject to market availability and liquidity.
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