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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Acquisition of IGI Belgium and IGI Netherlands Group
Proceeds will fund the purchase of the IGI Belgium and IGI Netherlands entities, currently held by the promoter, bringing them under the Indian listed company.
General corporate purposes
The remaining fresh issue proceeds will be used for general corporate purposes.
(₹ in Crore)
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International Gemmological Institute (India) Limited certifies and grades diamonds, gemstones, and jewellery for manufacturers, retailers, and individual consumers. Its services cover both natural and laboratory-grown diamonds, colored stones, and studded jewellery, with grading based on standard criteria such as cut, color, clarity, and carat weight. The company also runs gemological education and training programs that support its brand and industry relationships. The India entity was incorporated in February 1999 and operates as part of a global certification network founded in Antwerp, Belgium in 1975. It runs 31 branches and laboratories across 10 countries, including Surat and Mumbai in India as well as Antwerp, New York, Bangkok, Dubai, Hong Kong, and Shanghai. In India, it held roughly half the market for certification of diamonds, studded jewellery, and colored stones during calendar year 2023. The company is backed by BCP Asia II TopCo Pte. Ltd., an entity linked to global investment firm Blackstone. The company is the second largest independent provider of certification and grading services for loose stones and jewellery worldwide, and holds a leading position in certifying laboratory-grown diamonds, a segment that has been expanding rapidly. It operates in a business with high entry barriers built on accreditation, technical expertise, and trust, and has shown consistent growth in revenue, profitability, and return ratios in recent years.
The company raised approximately Rs 1,900.35 crore from anchor investors ahead of the issue opening, at the IPO's upper price band of Rs 417 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 PM
Global scale in certification
The company is the second largest player worldwide for grading and certifying loose diamonds, gemstones, and jewellery, giving it broad brand recognition across markets.
Leadership in lab-grown diamond certification
It holds a leading position in certifying laboratory-grown diamonds, a segment of the gems and jewellery industry that has been growing quickly.
Diversified service offering
The company serves a wide range of customers, from manufacturers and retailers to individual consumers, across natural and lab-grown stones and jewellery.
Brand building through education
Gemological training and educational programs help the company build its brand and deepen relationships with industry partners.
Consistent financial growth
Revenue, profit margins, and return ratios have shown a steady upward trend in recent years.
Experienced management with strong backing
The business is run by an experienced leadership team and is backed by a large global private equity investor.
Concentration in the Indian market
A significant share of revenue depends on the Indian market, making the business sensitive to domestic demand conditions.
Regulatory exposure
The company operates in a regulated environment and could be affected by changes in rules governing gem certification or trade.
Competitive pressure
It faces competition from both global and regional certification and grading players.
International Gemmological Institute India Limited
Company contact details are not available.
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Ongoing legal proceedings
Certain legal proceedings involving the company and its affiliates are pending and could affect its business or reputation if resolved unfavorably.