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
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
