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.
More on Grading
The Latest
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
