International Gemmological Institute (India) Limited IPO

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The Pre-Acquisition Group specializes in providing certification and accreditation services for the diamond and gemstone industry, as well as offering educational programs. This group operates under the International Gemmological Institute (“IGI”) brand, focusing on the Indian and Turkish markets. IGI is a globally recognized name in the gemological certification sector.

1. Core Business Areas:
i. Certification of natural diamonds, laboratory-grown diamonds, studded jewelry, and colored stones.
ii. Educational programs in gemology and jewelry design.

2. Market Position:
i. India: – The group holds a 50% market share in certification services for diamonds, studded jewelry, and colored stones as of CY2023, making it the largest independent certifier in the country.
ii. Türkiye: – The group operates a dedicated IGI laboratory.

Services and Offerings:

i. Diamond Certification                        ii. Colored Stone Evaluation
iii. Jewelry Grading                                iv. Educational Programs

Competitive Advantage:

The Pre-Acquisition Group benefits from a robust infrastructure, industry expertise, and a strong educational foundation, enabling it to lead the certification and accreditation market in India and Türkiye. Its ability to offer an extensive laboratory network and in-depth educational programs ensures it remains a trusted authority in gemological certification.

Objects of the International Gemmological Institute (India) Limited IPO:

The Company proposes to utilize the Net Proceeds towards funding the following objects: i. Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter; and ii. General corporate purposes. Total number of share issue :- i. Fresh issue is 35,371,703 ii. Offer for sale is 65,947,242.

International Gemmological Institute (India) Limited IPO Details:

Open Date: Dec 13 2024
Close Date: Dec 17 2024
Total Shares: 101,318,945
Face Value: ₹ 2 Per Equity Share
Issue Type: Book Building
Issue Size: 4,225.00 Cr.
Lot Size: 35 Shares
Issue Price: ₹ 397 - 417 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 20 2024

Promoters And Management:

Bimal Tanna, the Non-Executive Chairman and Independent Director of Yash Highvoltage Limited, holds a bachelor's degree in commerce from the University of Bombay and is a member of the Institute of Chartered Accountants of India (ICAI). He served as a partner with PricewaterhouseCoopers entities in India from 2002 to 2023 and with Price Waterhouse & Affiliate Firms from 1998, becoming a partner in 2000. Tehmasp Nariman Printer, the Managing Director and CEO of the company, holds a bachelor's degree in physics from Guru Nanak Khalsa College, University of Mumbai, and has completed the 'LEAP: Strategic Management Programme for Senior Professionals' at IIM Kozhikode. An associate member of the Gem & Jewellery Export Promotion Council, he has been with the company since 1999, starting as General Manager, and brings over 25 years of experience in the diamond industry. Mukesh Mehta, a Non-Executive (Nominee) Director of the company, holds a master's degree in commerce from the University of Mumbai. He is a Chartered Accountant (ICAI) and a Certified Financial Analyst (USA). Currently, he serves as Senior Managing Director in the private equity business group of Blackstone Advisors India Private Limited. With over 18 years of private equity experience, he has previously worked at Carlyle India Investment Advisors, Citicorp Finance, and Price Waterhouse & Co.

Financials of International Gemmological Institute (India) Limited IPO:

Year Revenue (Cr) EBITDA (Cr) PAT (Cr) RONW (%) ROCE (%) No. of Labs
FY21 364 246 171 74.39% 86.79% 16
FY22 490 335 241 83.13% 87.09% 19
FY23 638 450 324 76.58% 80.96% 20
9MFY24 596 429 326 56.59% 62.19% 20

Comparison With Peers:

There are no listed companies globally and/or in India that engage in a business similar to that of the Company.

Recommendation on International Gemmological Institute (India) Limited IPO:

Registrar of International Gemmological Institute (India) Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

International Gemmological Institute (India) Limited 702, 7 th Floor The Capital, Bandra Kurla Complex, Bandra (E), Mumbai-400051 Phone: +91 224035 2550 Email: investor.relations@igi.org Website: https://www.igi.org/

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