International Gemmological Institute shares in 5% lower circuit as shareholder lock-in ends

Shares of Gemmological Institute Ltd. (IGI) will be in focus on Tuesday, March 18, as its three-month shareholder lock-in period ends.

The end of the shareholder lock-in will mean that 2.28 crore shares of the company, or 5% of the company's outstanding equity will become eligible to be traded.

It must be specified that the end of the shareholder lock-in period does not mean that all the shares will be sold in the Open Market but they only become eligible to be traded.

In an interaction with CNBC-TV18 earlier this month, the management of Gemmological Institute

said that volume growth in 2025 can be in excess of 20% with revenue growing at a Compounded Annual Growth Rate (CAGR) between 15% to 20% over the next five years.

The management also added that it sees no downside risk to margins from current levels and that it has increased the average size of Lab Grown Diamonds that it certifies.

Shares of Gemmological Institute (IGI) had made a post-listing high of ₹642, from where the stock has been on a correction spree.

The stock is down nearly 55% from its post-listing high, having declined to the lowest level since listing of ₹282. The stock is also down nearly 30% from its IPO price of ₹417.

Shares of Gemmological Institute ended 2.2% lower on Monday at ₹301.65. The stock is down in five out of the last six trading sessions.