SBI Capital | Mines to Market

International Gemmological Institute (India) Limited (“IGI” or “The Company”), shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Friday, December 13, 2024. The total offer size of equity shares (face value of Rs. 2 each) aggregating up to Rs. 42,250 million comprises a Fresh Issue of aggregating up to Rs. 14,750 million and Offer for Sale of equity shares aggregating up to Rs. 27,500 million . (“Total Offer Size”). Price Band of the issue is fixed at Rs. 397 to Rs 417 per equity share. (“The Price Band”). The price band includes a discount of Rs. 39.7 – Rs. 41.7 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion (“Employee Reservation Portion Discount”). Bids can be made for a minimum of 35 Equity Shares and in multiples of 35 Equity Shares thereafter. (“Bid Lot”). The Company proposes to utilize the Net Proceeds towards funding the following objects – Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from Promoter estimated to Rs. 13,000 million ; and the balance amount towards General corporate purpose. (“Object of the Offer”) The offer for sale comprises of equity shares aggregating up to Rs. 27,500 million by BCP Asia II TopCo Pte. Ltd. (“Promoter Selling Shareholder”) The Equity Shares are being offered through the Red Herring Prospectus of the Company dated December 06, 2024; filed with the Registrar of Companies Maharashtra, Mumbai. (“ROC”) Amit Dixit, Head of Private Equity Asia, Blackstone, said: “We are incredibly proud to support IGI on this next chapter of growth. This marks a continuation of our business builder efforts to strengthen IGI's presence and operations by helping the company expand its reach and offerings and become a one-stop provider of certification. When we first invested in the company two years ago, we knew it had tremendous potential under Tehmasp’s stewardship with the right resources and access. We will continue to partner with the management team and remain heavily invested in IGI, cementing its market leading position.” Tehmasp Printer, Managing Director and Chief Executive Officer, IGI said: “This is a tremendous milestone for IGI. From Inception, our vision is to grow this business into global leadership. We have been the first movers in India. We have demonstrated strong expertise & innovation in an industry with enormous potential for growth. We are here with the backing of Blackstone and excited to take the 50 year old global company public in India” In January 2024, Tehmasp Printer was honored at the ‘Hall of Fame’ event by the Gem & Jewelry Export Promotion council, in recognition of his invaluable contribution to the loose stones and studded jewelry industry. In addition to his many achievements and accolades he was awarded the ‘Outstanding Zarathushti Professional of the Year - 2023’ by W.Z.C.C. Mukesh Mehta, Senior Managing Director, Blackstone, said: "This is a remarkable achievement for IGI and couldn’t have come at a better time. In less than two years, we have helped solidify IGI’s position as a global leader in the certification of lab grown diamonds and an increasingly competitive player in other segments. We remain the largest shareholder at IGI and are thrilled to continue to partner with IGI in its next phase of growth.” The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than Rs. Rs. 0.20 million and up to Rs. 1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than Rs. 1.00 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the SCSBs or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see “Offer Procedure” on page 569. Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the offer (“BRLMs”). All capitalized terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

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