International Gemmological Institute IPO sees 10% subscription on Day 1 so far, retail leads; check latest GMP
The International Gemmological Institute (IGI) IPO has seen an encouraging 10% subscription on Day 1, with retail investors leading the charge. The IPO, which launched on December 13, 2024, is part of a ₹4,225 crore offer, including both a fresh issue and an offer for sale (OFS). The price band for the shares is ₹397 to ₹417, and investors are particularly interested due to the company's solid market position in diamond certification.
Currently, the Grey Market Premium (GMP) is expected to be around ₹528 per share, indicating a potential 27% premium on listing, which is boosting investor interest
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