New Delhi, Dec 17 (PTI) The initial public offer of diamond grading firm International Gemmological Institute (India) Ltd received 33.78 times subscription on the closing day of bidding on Tuesday.
The Rs 4,225-crore initial share sale received bids for 1,97,83,66,950 shares against 5,85,60,902 shares on offer, as per NSE data.
The portion for Qualified Institutional Buyers (QIBs) fetched 45.80 times subscription while the category for non-institutional investors got subscribed 24.84 times. The Retail Individual Investors (RIIs) part received 11.21 times subscription.
Blackstone-backed International Gemmological Institute (India) Ltd on Thursday mobilised Rs 1,900 crore from anchor investors.
The issue has a price band of Rs 397-417 per share.
The IPO is a combination of a fresh issue of equity shares worth Rs 1,475 crore and an Offer-for-Sale (OFS) valued at Rs 2,750 crore by promoter BCP Asia II TopCo Pte Ltd, an affiliate of Blackstone.
The company proposes to utilise the proceeds from the fresh issue for the acquisition of IGI Belgium Group and IGI Netherlands Group from promoter, and general corporate purposes.
International Gemmological Institute (India) Ltd provides services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones.
Axis Capital, Kotak Mahindra Capital Company, Morgan Stanley India Company and SBI Capital Markets are the book-running lead managers to the issue.
The shares of the company will be listed on the BSE and NSE.