One of the small-cap stocks engaged in the world’s largest independent certification and accreditation services provider in the fields of diamonds, gemstones, and jewelry. The stock has hit 10 percent after acquiring 100% stakes in both IGI Netherlands B.V. and International Gemological Institute BV.
Stock Price Movement:
With a market capitalization of Rs. 25,084.71 crores, the shares of International Gemological Institute (India) Limited’s stock surged by 10 percent, reaching an upper circuit of Rs. 580.45 per share on Thursday, up from its previous closing price of Rs. 527.70 per share.
In just six days since its listing on the NSE, the stock has delivered a return of 23.16 percent as of December 26.
What Happened:
International Gemological Institute (India) Limited has acquired 100% stakes in both IGI Netherlands B.V. and International Gemological Institute BV for USD 88,440,543 and USD 69,761,445, respectively.
The acquisitions were completed on December 19 and 20, 2024, and expanded the company’s core business in key markets, including diamond certification, screening, sorting, and gemology education. Both transactions were executed for cash consideration, and the entities are now wholly-owned subsidiaries of the company.
Market Presence
As of September 30, 2024, International Gemmological Institute (India) Limited operates a network of 20 laboratories and 9 schools across India and Türkiye, employing around 843 professionals, including skilled gemologists.
The company has a substantial global footprint with 31 laboratories in 10 countries, including major markets like Surat, Mumbai, Antwerp, New York, and Shanghai.
IPO Details:
The International Gemmological Institute (India) Limited launched its Initial Public Offering (IPO) from December 13 to December 17, 2024. The issue size is Rs. 4,225 crores, with a price band of Rs. 397 to Rs. 417 per share.
The IPO comprises a fresh issue of Rs. 1,475 crore and an offer for sale (OFS) of Rs. 2,750 crore. The company was listed on both BSE and NSE on December 20, 2024.
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Market Share:
International Gemmological Institute (India) Limited commands a 50% market share in India’s diamond certification market, with 19 labs across India and one in Turkey. Globally, IGI holds a 33% market share, ranking as the second-largest independent certification provider based on revenue for 2023.
Services Offering:
International Gemmological Institute (India) Limited offers services including diamond grading reports on the 4Cs for natural and lab-grown diamonds, coloured stone evaluations, and finished jewellery assessments. Additionally, the company provides educational programs in gemology, diamond grading, jewellery design, and related fields.
Financial Highlights:
International Gemmological Institute (India) Limited’s revenue has increased from Rs. 499.33 crore in FY24 to Rs. 648.66 crore in FY25, which has grown by 29.91 percent. The net profit of Waaree Renewable Technologies Limited has also grown by 34.32 percent, from Rs. 241.76 crore in Q2 FY24 to Rs. 324.74 crore in Q2 FY25.
Company Overview:
International Gemmological Institute (India) Limited was established in 1999 and is a leading provider of certification and grading services for diamonds, gemstones, and jewelry. The company operates under the globally recognized IGI brand and offers independent grading reports and educational programs in gemology and jewelry design.
Written By – Nikhil Naik
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