About Company

• IGI India was incorporated on February 23, 1999. Company’s primary business is the provision of services related to the certification and accreditation of natural diamonds, laboratory-grown diamonds, studded jewellery and coloured stones as well as the offering of educational programs. IGI India, is part of the IGI, is one of the established reputed certifiers in the global market for certification, according to the Redseer Report.

• IGI is one of the three players that offer a full stack of comprehensive offerings among the peer set, covering grading and classification services across different stone types. 

• In India, IGI India was the 1st international laboratory for diamonds, studded jewellery, and coloured stones certification to be established; it was also the first to provide certification and accreditation services among its global peers in 1999.

• In India, IGI India is the largest independent certification and accreditation services provider in terms of the number of certifications of diamonds, studded jewellery, and coloured stones (~50% market share in the same) for CY 2023.

• IGI India also serves 9 of the Top 10 jewellery chains in India. As the largest certification services provider for lab-grown diamonds in India, IGI India serves more than 5 Indian growers of lab-grown diamonds with over ? 100 crores of revenue for FY 2023.

• As of September 30, 2024, IGI India has the largest pan-India laboratory network among its global peers for grading lab-grown diamonds, complemented by global reach, giving it a significant competitive advantage.

• IGI India took the initiative to establish its own signature event, D Show, which has evolved in the last 13 years to become a widely used platform in India for 100+ jewellery retailers, 80 jewellery manufacturers and 800+ visitors to engage and share insights, in CY 2024.

• In terms of revenue for CY2023, IGI is the world’s 2nd largest independent certification and accreditation services provider among its global peers for diamonds, studded jewellery, and coloured stones certifications. Since May 2023, IGI has been wholly owned by BCP Asia II TopCo Pte. Ltd., which is an affiliate of funds managed and/or advised by affiliates of Blackstone, the world’s largest alternative asset manager, based on assets under management of $ 1,107.63 billion as of September 30, 2024.

Strengths

Competitive Strength

• World’s 2nd largest independent certification and accreditation services provider among the global peers for diamonds, studded Jewellery and coloured stones and in an industry characterized by barriers to entry;

• 1st mover and global market leader in providing certification services for the fast-growing laboratory grown diamond industry;

• Extensive range of services for certification and accreditation services provided to a diverse group of customers along the value chain;

• Education initiatives that support spreading awareness, building customer partnerships and the brand;

• Demonstrated track record of delivering growth in revenue, margins and returns;

• Experienced professional management team backed by the largest alternate asset manager globally.

Business Strategies

• Maintain the leadership position in certification of laboratory-grown diamonds;

• Expand the presence in the natural diamond and studded Jewellery and coloured stone vertical;

• Expand the global laboratory network;

• Continue to invest in building brand salience;

• Leverage the strength in education to increase awareness as well as build trust and transparency;

• Continue to invest in technology including AI to improve processes.

Company Promoters

Company Financials

International Gemmological Institute (India) Limited Financial Information (Restated)

Objects of the Issue

The Company proposes to utilize the Net Proceeds towards funding the following objects:

Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from the Promoter; and

General corporate purposes.