IGI IPO 2024: Subscription Details, Price Band, and Key Investor Insights
The IGI IPO 2024 opens for subscription with a price band of Rs 397-417, aiming to raise Rs 4,225 crore. Featuring anchor investor backing, it offers robust growth potential, expert recommendations, and innovative plans for global market leadership.
Learn all about the IGI IPO 2024, including price band, subscription dates, key investors, grey market premium, and expert recommendations for investors.
- IPO Dates: Opens on December 13, 2024, and closes on December 17, 2024.
- Type: Book-built IPO.
- Price Band: Rs 397 to Rs 417 per share.
- Fundraising Target:
- At the upper end of the price band, the IPO aims to raise Rs 4,225 crore.
- Fresh Issue: 35.4 million shares aggregating to Rs 1,475 crore.
- Offer for Sale (OFS): 65.9 million shares aggregating to Rs 2,750 crore.
Anchor Investors
- Funds Raised: Rs 1,900.35 crore on December 12, 2024.
- Key Investors:
- Government of Singapore
- Monetary Authority of Singapore
- Nomura Funds
- Abu Dhabi Investment Authority
- Government Pension Fund Global
- Fidelity
- Pinebridge Global Funds
- Eastspring Investments
- Carmignac Portfolio
- Natixis International Funds
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Bidding Details for Retail Investors
- Lot Size: 35 shares per lot.
- Minimum Investment: Rs 14,595 for one lot.
- Maximum Investment: Rs 2,00,000 for up to 13 lots (455 shares).
Grey Market Premium (GMP)
- Premium: Trading at Rs 492 per share in the grey market, a premium of Rs 75 or 17.99% over the upper price band of Rs 417.
Key Dates
- Subscription Closes: December 17, 2024.
- Basis of Allotment Finalized: December 18, 2024.
- Shares Credited to Demat Accounts: December 19, 2024.
- Listing Date: December 20, 2024.
IPO Objectives
- Utilization of Funds:
- Rs 1,300 crore for acquiring IGI Belgium Group and IGI Netherlands Group from the promoter.
- Remaining funds for general corporate purposes.
- Selling Shareholders: Will receive proceeds from the Offer for Sale.
Management and Advisors
- Registrar: KFin Technologies.
- Book-Running Lead Managers:
- Axis Capital
- Kotak Mahindra Capital Company
- Morgan Stanley India Company
- SBI Capital Markets
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Brokerage Recommendations
- AUM Capital:
- Recommendation: Subscribe for the long term.
- Rationale: Post-acquisition, IGI is poised to become a global leader in gem certification, driven by rising disposable income and increased demand for gems and jewellery.
- Swastika Investmart:
- Recommendation: Subscribe for both listing gains and long-term growth potential.
- Rationale: IGI holds a dominant global market position, shows consistent financial growth, and has no directly listed peers.
The IGI IPO offers significant growth opportunities with a strong leadership position in the global gem certification market. Analysts recommend subscribing for both short-term gains and long-term value.
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Disclaimer: This blog is solely for educational purposes. The securities/investments quoted / information here are not recommendation.