International Gemological Institute (IGI) had a remarkable stock market debut today, listing with a strong premium on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The shares opened at Rs 510 on the NSE, marking a 22.30% increase from the IPO issue price of Rs 417. On the BSE, the stock listed at Rs 504.84, reflecting a 21.07% gain.
The Rs 4,225-crore Initial Public Offering (IPO) consisted of a fresh issue of Rs 1,475 crore and an Offer-for-Sale (OFS) worth Rs 2,750 crore by the company’s promoter, BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone. As of 10:26 AM, IGI shares were trading at Rs 490 on the NSE and Rs 492 on the BSE, showing an 18% rise from the issue price.
The company’s market capitalization reached Rs 21,383.26 crore at the time, indicating strong investor confidence in the brand. IGI's successful market debut showcases the strong demand for its shares and positions the company well in the gemological sector.
