International Gemmological Institute (India) or IGIL is the new debutant and it made a dazzling entry. As against the IPO price of Rs.417, the stock got listed on the BSE at Rs.504.85 and rose to Rs.525 but soon profit booking came in and the stock is now trading at Rs.495 levels, a recovery after going down to Rs.472.

The IPO was overall subscribed 33.78x, with QIB portion subscribing 45.8x, HNIs at 24.84x and Retail at 11.21x.

IGIL is world’s #2 certification company for diamonds (mined and lab-grown), gemstones and jewellery, commanding 33% global market share.

In our IPO Analysis, we had concluded - Long Term of the industry need to be monitored. But unique business model with super margin makes the IPO attractive for Short Term. Hence, advised to apply in the IPO only with a short term view.