International Gemmological Institute - A Hype & Hope IPO in Bull Market 

The IPO with OFS of 1300-1400 crore is being disguised as the fresh issue. Why?

All the fresh proceeds of INR 1300 crore going to acquire two promoter-owned companies 

These companies together generated a loss of -10 crores in 9MCY24 and listed company IGI is paying 1300 crores. 

Also, the Promoter is doing OFS of 2750 crores

#redflag #corproategovernance

The biz is certification of diamonds (50% market share in India - biz might look juicy and attractive but only in bull market)