GradingJul 08, 2024
IGI Names Tiffany Stevens to Lead North American BusinessGradingAug 27, 2024
IGI Files for IPO in India
The gemological lab is looking to raise up to $477 million.
The International Gemological Institute has filed for an initial public offering in India.
New York—The International Gemological Institute is looking to go public a little over a year after it was acquired by a private equity firm.
The company filed for an initial public offering in India on Aug. 22, looking to raise up to 40 billion rupees ($477 million).
The stock would be listed on the National Stock Exchange of India and the Bombay Stock Exchange.
The proposed IPO values IGI at around $3.5 billion.
Around 75 percent of the IPO will go to qualified institutional buyers while 15 percent will go to non-institutional investors. The remaining 10 percent will be available to retail investors.
The company said it plans to use the net proceeds for general corporate purposes and to acquire the remaining outstanding shares of IGI Belgium Group and IGI Netherlands Group.
“The proposed acquisition is intended to consolidate our global business under our company while continuing to leverage on our centralized management and simplify our group structure,” said the prospectus.
IGI highlighted its position as the second-largest independent grading and accreditation services provider in the world, after the Gemological Institute of America, for loose stones and jewelry.
IGI’s share of the overall grading report market is around 33 percent, according to a report IGI commissioned from consultancy firm Redseer.
In India, however, IGI is the largest provider of these services, holding 50 percent market share, said the report.
IGI also noted in its prospectus the lab’s early entry into providing grading services for the “fast-growing” lab-grown diamond industry.
The report found IGI to be the global leader in lab-grown diamond reports, holding 65 percent market share.
Related stories will be right here …
The company filed for an initial public offering in India on Aug. 22, looking to raise up to 40 billion rupees ($477 million).
The stock would be listed on the National Stock Exchange of India and the Bombay Stock Exchange.
The proposed IPO values IGI at around $3.5 billion.
Around 75 percent of the IPO will go to qualified institutional buyers while 15 percent will go to non-institutional investors. The remaining 10 percent will be available to retail investors.
The company said it plans to use the net proceeds for general corporate purposes and to acquire the remaining outstanding shares of IGI Belgium Group and IGI Netherlands Group.
“The proposed acquisition is intended to consolidate our global business under our company while continuing to leverage on our centralized management and simplify our group structure,” said the prospectus.
IGI highlighted its position as the second-largest independent grading and accreditation services provider in the world, after the Gemological Institute of America, for loose stones and jewelry.
IGI’s share of the overall grading report market is around 33 percent, according to a report IGI commissioned from consultancy firm Redseer.
In India, however, IGI is the largest provider of these services, holding 50 percent market share, said the report.
IGI also noted in its prospectus the lab’s early entry into providing grading services for the “fast-growing” lab-grown diamond industry.
The report found IGI to be the global leader in lab-grown diamond reports, holding 65 percent market share.
IGI also shared details about its revenue for the first three months of the year, totaling 2.15 billion rupees ($25.7 million), with nearly all revenue coming from its grading reports.
Of those reports, 60 percent were for lab-grown diamonds, followed by jewelry and colored stones at 20 percent, and natural diamonds at 19 percent.
Less than 1 percent of its revenue stems from its education services.
Private equity giant Blackstone acquired IGI in May 2023 from a subsidiary of Chinese conglomerate Fosun and former CEO Roland Lorie, paying nearly $570 million for the lab.
Founded by the Lorie family in Antwerp in 1975, IGI now operates 31 laboratories and 18 education facilities in diamond and jewelry centers around the world.
Editors' Picks
Sponsored by
More on Grading
The Latest
CrimeNov 12, 2026
1 of 7 Men Charged in $100M Brinks Heist to Plead GuiltyThree of the other alleged perpetrators will stand trial next March, while two remain on the lam and one was deported late last year.
AuctionsNov 12, 2026
24-Carat ‘Bulgari Pink’ Diamond Sells for $14.8MUnseen for more than seven decades, the fancy intense pink diamond was the star of Christie’s Geneva jewelry auction.
WatchesNov 12, 2026
Zadok Jewelers Now Offers Certified Pre-Owned Rolex WatchesThe curated selection is available online and at its showroom in Austin, Texas.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
IndependentsNov 12, 2026
Greenberg’s Jewelers Welcomes New Fourth-Generation MembersThe next generation understands what makes the 126-year-old retailer special, said CEO and Co-President Elise Greenberg.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
SourcingNov 10, 2026
Botswana in Line to Take Controlling Stake in De Beers, President Says If the Global Diamond Consortium emerges as the top bidder for De Beers, Botswana’s stake will double to 30 percent, Duma Boko said Monday.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
