International Gemmological shares jump 13 pc in market debut trade

New Delhi, Dec 20 (PTI) Shares of diamond grading firm International Gemmological Institute India on Friday ended with a premium of nearly 13 per cent against the issue price of Rs 417.

The stock listed at Rs 504.85, up 21 per cent from the issue price on the BSE. During the day, it jumped 25.89 per cent to Rs 525. Shares of the firm ended at Rs 470.15, a surge of 12.74 per cent.

At the NSE, the stock began the trade at Rs 510, rallying 22.30 per cent. It ended with a jump of 12.98 per cent at Rs 471.15.

The company's market valuation stood at Rs 20,317.99 crore.

In traded volume terms, 51.11 lakh shares of the firm were traded on the BSE and 641.51 lakh shares on the NSE.

The initial public offer of the International Gemmological Institute received 33.78 times subscription on the closing day of bidding on Tuesday.

The Rs 4,225-crore initial share sale had a price band of Rs 397-417 per share.

The IPO had 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 and general corporate purposes.

International Gemmological Institute provides services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones. PTI SUM SUM BAL BAL