Shardul Amarchand Mangaldas & Co. Advised Book Running Lead Managers On International Gemmological Institute IPO
Shardul Amarchand Mangaldas & Co. Advised Book Running Lead Managers On International Gemmological Institute IPO
Shardul Amarchand Mangaldas & Co. advised the Book Running Lead Managers (“BRLMs”) - Axis Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited on International Gemmological Institute (India) Limited’s (“Issuer”) Initial Public Offering (“IPO”) of 101,323,893 equity shares comprising of a fresh issue of 35,376,651 equity shares and an Offer for Sale of 65,947,242 equity shares.
The deal was closed on December 20 and aggregated to approximately USD 497.51 million.
The Issuer is the portfolio company of Blackstone, and they benefit from the resources, relationships and expertise of Blackstone, which is the world’s largest alternative asset manager and is renowned for providing one of its kind, comprehensive gemological services, including grading and certification of diamonds, natural stones and colored stones, ensuring accuracy and transparency in the jewelry market.
A Blackstone vehicle, BCP Asia II TopCo. Pte. Ltd. were the Promoter Selling Shareholder in the deal.
The deal entailed a unique structure where the proceeds of the IPO were utilized to acquire the related Dutch and Belgian operations owned by the Promoter.
The SAM & Co. team was led by Nikhil Naredi, Partner; Abhiroop Datta, Partner; Aditi Verma, Principal Associate; Rakshita Poddar, Associate and Soundarya Mathavan, Associate.
