Priced between Rs 397 and Rs 417 per share, the Rs 4,225-crore IPO comprised a fresh issue of Rs 1,475 crore and an offer for sale of Rs 2,750 crore. The issue saw a robust subscription of 35.5 times, underscoring strong investor confidence.

Post-listing, IGI commands an impressive market capitalisation of Rs 20,318 crore, cementing its position as a global leader in diamond, gemstone, and jewellery certification. The stock made its market debut at Rs 504.85, reflecting a 21% premium to its issue price. While it closed the inaugural session at Rs 470.15, a 12.75% gain from the issue price, the listing highlights investor enthusiasm and the company’s strong growth prospects.

Speaking at the listing ceremony, Mukesh Mehta, Senior Managing Director at Blackstone, IGI’s majority investor, expressed his pride in the company’s achievements. “In Hindi, Blackstone translates to ‘kaala patthar,’ and it is truly fitting that we have found our Kohinoor in IGI, a company that leads the world in diamond and jewellery certification,” he said.

Mehta further elaborated on IGI’s guiding principles, stating, “While IGI stands for the International Gemological Institute, for us, it represents Integrity, Growth, and Innovation. These values have been instrumental in our journey together and will continue to guide IGI’s path forward.”

In less than two years under Blackstone’s stewardship, IGI has scaled its business significantly, solidifying its market leadership, particularly in the certification of lab-grown diamonds. The IPO’s success, coupled with its strong debut, reflects the growing trust in IGI’s robust business model and the rising global demand for certified gems and jewellery.