In a high-stakes transaction blending precision and ambition, International Gemological Institute (India) Limited launched its initial public offering, raising approximately $497.51 million. The offering included a fresh issue of over 35 million equity shares alongside an offer for sale of nearly 66 million shares.
The IPO showcased a distinct strategy, with proceeds earmarked for acquiring Dutch and Belgian operations from the promoter, BCP Asia II TopCo. Pte. Ltd., part of Blackstone’s vast portfolio. Blackstone’s backing brings not only capital but its globally recognized expertise in alternative asset management, cementing IGI’s role as a leader in gemological grading and certification for diamonds and gemstones.
The operation’s complexity demanded strategic finesse, a role ably filled by the Book Running Lead Managers: Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets. Legal acumen for the managers was provided by Shardul Amarchand Mangaldas & Co., who navigated the multifaceted deal structure to closure on December 20, 2024.
The transaction’s successful execution underscores the fusion of market expertise, legal ingenuity, and visionary leadership, setting a glowing precedent for future industry milestones.
