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What is the story about?
Shares of International Gemmological Institute India Ltd. will be in focus on Monday, December 22, as its shareholder lock-in comes to an end today.
According to Nuvama Alternative & Quantitative Research, as many as 244.4 million shares, or 57% of the company's outstanding equity will free up for trade, one-year shareholder lock-in period ends today.
Based on Friday's closing price, the total value of shares that get freed up for trade is ₹7,735 crore.
It must be noted that the end of the shareholder lock-in period does not mean all the shares will be sold in the open market. They just become eligible to be traded.
As per the shareholding pattern for the September quarter, promoters of International Gemmological Institute had a 76.55% stake in the company, which is 1.55% above the minimum public shareholding threshold of 75%. BCP Asia II TOPCO Pte Ltd., a unit of Blackstone owns the entire stake.
India's Mutual Funds had a 3.71% stake, of which, ICICI Prudential Mutual Fund had a 1.65% stake. The Abu Dhabi Investment Authority (1.33%) and the Government of Singapore (1.97%) are some of the prominent foreign shareholders in the company.
As many as 1.8 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 5.87% stake in the company.
International Gemmological Institute is the world's largest independent certifier for diamonds, lab-grown diamonds, and other jewellery.
Shares of International Gemmological Institute ended little changed last Friday at ₹316.5. The stock is down 24% from its IPO price of ₹417, and have halved from their post-listing high of ₹642 per share.
According to Nuvama Alternative & Quantitative Research, as many as 244.4 million shares, or 57% of the company's outstanding equity will free up for trade, one-year shareholder lock-in period ends today.
Based on Friday's closing price, the total value of shares that get freed up for trade is ₹7,735 crore.
It must be noted that the end of the shareholder lock-in period does not mean all the shares will be sold in the open market. They just become eligible to be traded.
As per the shareholding pattern for the September quarter, promoters of International Gemmological Institute had a 76.55% stake in the company, which is 1.55% above the minimum public shareholding threshold of 75%. BCP Asia II TOPCO Pte Ltd., a unit of Blackstone owns the entire stake.
India's Mutual Funds had a 3.71% stake, of which, ICICI Prudential Mutual Fund had a 1.65% stake. The Abu Dhabi Investment Authority (1.33%) and the Government of Singapore (1.97%) are some of the prominent foreign shareholders in the company.
As many as 1.8 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 5.87% stake in the company.
International Gemmological Institute is the world's largest independent certifier for diamonds, lab-grown diamonds, and other jewellery.
Shares of International Gemmological Institute ended little changed last Friday at ₹316.5. The stock is down 24% from its IPO price of ₹417, and have halved from their post-listing high of ₹642 per share.
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