The Worldwide Gemological Institute (IGI), a U.S.-based diamond certification firm backed by US basis Blackstone, has submitted draft paperwork to the capital market Regulator SEBI will elevate 40 billion rupees ($480 million) by preliminary public providing (initial public offering).
The provide contains newly issued shares shares value Rs 1,250 crore and shares value Rs 2,750 crore on the market.
The proposed IPO is predicted to worth IGI at roughly $3.5-4 billion.
In Could final 12 months, Blackstone acquired IGI from Fosun’s Shanghai Yuyuan Mall (Group) and the founding household Roland Lorie for US$570 million.
Based in Antwerp in 1975, IGI is the world chief in impartial certification of diamonds, gem stones and jewellery, with 29 laboratories and 18 gemmological colleges in 10 international locations all over the world.
