3 days ago
The Gemmological Institute (India) Ltd., a Blackstone-backed diamond grading firm, is set to finalise the allotment of its Initial Public Offering (IPO) on Wednesday, December 18, with shares slated to list on the BSE and NSE on December 20.
The IPO, which was open for subscription from December 13 to 17, generated strong investor interest. The price band for the issue was set between ₹397 and ₹417 per share.
The three-day issue saw overall subscription of 22 times the total shares on offer. Bids were placed for 197.83 crore shares, in comparison to the 5.85 crore shares on offer.
The Qualified Institutional Buyer (QIB) category saw the highest demand in the Gemmological Institute, with a subscription of 45.8 times, followed by the non-institutional investor (NII) segment, which was subscribed 24.84 times. The employee category of the issue received bids 20.63 times the shares allocated whereas the retail portion was booked 11.21 times.
How to check Gemmological Institute IPO allotment status:
Investors, who bid in the Gemmological Institute IPO, can check their share allotment status through the websites of BSE, NSE or the IPO registrar, KFin Technologies.
Steps to check Gemmological Institute IPO share allotment on the BSE website:
1. Visit the BSE IPO allotment page.
2. Select 'Equity' as the issue type.
3. Choose ' Gemmological Institute (India) Ltd' from the dropdown.
4. Enter your application number or PAN.
5. Click 'Search' to view your allotment status.
Steps to check Gemmological Institute IPO share allotment on KFin Technologies' website:
1. Go to the KFin Technologies IPO page.
2. Select ' Gemmological Institute (India) Ltd' from the dropdown.
3. Enter your PAN, application number, or DP/Client ID.
4. Click 'Submit' to check your status.
Further investors can also check the allotment status of Gemmological Institute IPO via the NSE website using their registration ID and password.
Successful applicants will receive shares in their demat accounts, and unsuccessful applicants will get refunds.
Gemmological Institute IPO Details:
Before the IPO opened for subscription, Gemmological Institute (India) Ltd raised ₹1,900 crore from anchor investors.
The ₹4,225-crore IPO comprises a fresh equity issue of ₹1,475 crore and an Offer-for-Sale (OFS) of ₹2,750 crore from the promoter, BCP Asia II TopCo Pte Ltd, a Blackstone affiliate. The funds from the fresh issue will be used to acquire IGI Belgium Group and IGI Netherlands Group from the promoter, along with general corporate purposes.
About Gemmological Institute:
Gemmological Institute (India) Ltd provides certification and accreditation services for all types of diamonds, studded jewellery, and coloured stones. The company also offers educational programmes and degree courses for the gem and jewellery industry.
