An IPO, also known as a stock launch, is a public offering in which company shares are sold to institutional and retail investors. Through this process, a company changes from privately held to public.
A stock launch can generate new equity capital for a company, and the IGI reportedly aims to raise $USD477 million ($AUD702.6 million). In a 22 August report, the company was valued at around $USD3.5 billion ($AUD5.16 billion).
"Among other things, the move seeks to capitalise on the growing global demand for synthetics, according to the 22 August prospectus, which the company filed on two Indian stock exchanges. IGI is one of the largest diamond-grading labs and is a major player in the lab-grown market," writes Leah Meirovich of Rapaport News.
"Approximately 75 per cent of the IPO will be allocated to qualified institutional buyers (QIBs), and about 15 per cent to non-institutional investors. The remaining 10 per cent will be open to retail investors, the filing explained."
Blackstone purchased IGI from China’s Fosun International and former CEO Roland Lorie for approximately $USD570 million ($AUD839.67 million) in 2023. The IGI was founded in Antwerp in 1975.
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