2024-08-27 16:37:32
New Delhi: If you invest in the stock market through IPO, then there is good news for you. International Gemological Institute (IGI), a subsidiary of diamond trading company Blackstone, will bring an IPO of Rs 4 thousand crores. For this, the company has submitted the necessary papers with the Securities and Exchange Board of India (SEBI). In this IPO, the company will issue fresh shares worth Rs 1250 crores. At the same time, shares worth Rs 2750 crores will be issued by the promoters through OFS. According to the papers filed with SEBI, the face value of each share to be issued under the IPO will be Rs 2. IGI is expected to be valued at around $3.5 billion to $4 billion from this proposed IPO.
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Where will the company spend the money?
The company will use most of the money raised through the IPO to buy other companies. The company plans to acquire IGI Belgium Group and IGI Netherlands Group. Apart from this, some amount will also be spent for general corporate purposes.
Learn about the company
Blackstone bought IGI in May last year for $570 million from Shanghai Yuyuan Tourist Mart (a subsidiary of Fosun) and Roland Lowry (who is from IGI’s founding family). IGI is the largest independent certification and accreditation service provider in India. It offers certification in diamonds, studded jewellery and coloured stones. It has 29 labs and 18 schools of gemology in 10 countries.
How is the condition of big IPOs?
An IPO of Rs 4 thousand crores can be called a big IPO. In the last few years, IPOs of even bigger amounts have come. Know what is the status of the shares of some such companies today:
LIC IPO: Its issue size was around Rs 21 thousand crores. Its IPO came in May 2022. Currently its share price is Rs 1,060.55. Investors have gained about 28 percent since listing.
Paytm IPO: Its issue size was around Rs 18 crore. The IPO of this company came in November 2021. Currently its share price is Rs 555.15. Since listing, it has given a loss of about 64 percent to the investors.
Coal India IPO: The IPO of this company came in October 2010. Its issue size was around Rs 15 crore. Its share price is currently Rs 537.85. Since listing, it has given around 54 per cent profit to investors so far.
Reliance Power IPO: The IPO of this company of Anil Ambani came in January 2008. Its issue price was about Rs 12 thousand crores. Its share price is currently Rs 34.48. From listing till now, it has given a loss of about 86 percent to the investors.
SBI Card IPO: The IPO of this company came in March 2020. Its issue size was Rs 10,341 crore. The share price of this company is currently Rs 716.90. Since listing, it has given a loss of about 30 percent to the investors.