International Gemmological Institute (India) Ltd - Stock Valuation and Financial Performance

International Gemmological Institute (India) Limited was incorporated as ‘International Gemmological Institute (India) Private Limited’ at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated February 23, 1999, issued by the RoC. The company was subsequently converted into a public limited company and the name of the company was changed to ‘International Gemmological Institute (India) Limited’ and a fresh certificate of incorporation dated July 10, 2024 was issued by the RoC.

International Gemmological Institute (India) (IGI) was the first to provide certification and accreditation services among its global peers in 1999 and was the first international laboratory for diamonds, studded jewelry and colored stones certification to be established. It has built customer relationships over the years, by focusing on service quality and full-service offering across all types of diamonds, studded jewelry and colored stones certification and accreditation. Throughout this journey, it has aimed to provide its services with quality, accuracy, and integrity. The Pre-Acquisition Group has a diversified customer base spanning across the value chain of the diamonds, studded jewelry and colored stones industry.

Meanwhile, Post-Acquisition Group referring to IGI business globally, comprising the company, its subsidiary, the IGI Belgium Group and the IGI Netherlands Group, IGI is the world’s second largest independent certification and accreditation services provider based on revenue for CY2023 among global peers for diamonds, studded jewelry and colored stones certifications, with a global market share of around 33%, based on the number of certifications of diamonds, studded jewelry and colored stones performed in CY2023. It is one of the established reputed certifiers in the global market. 

IGI’s operations first started in Belgium in 1975 through the establishment of IGI Belgium, and as of September 30, 2024, it has a global network of many branches which are equipped with IGI laboratories across countries and schools of gemology across countries. The company has the largest number of laboratories globally and the largest number of schools established, among its global peers. In 1980, IGI USA was the first to issue jewelry identification reports among its global peers. 

Business area of the company

The company is an independent certification and accreditation services provider for diamonds, studded jewelry and colored stones certifications. The company is part of the International Gemmological Institute (IGI) group, and is responsible for the operation of the business under the ‘IGI’ brand exclusively in India and Turkey.

Awards, accreditations and recognitions

• 2011: Receipt of certificate of accreditation for ‘General Requirements for the Competence of Testing & Calibration Laboratories’ with accreditation standard ISO/IEC 17025:2005 for loose polished diamonds from National Accreditation Board for Testing and Calibration Laboratories.
• 2017: Awarded ‘Certificate of Appreciation’ by Ruban’s Healthcare Foundation for Children.
• 2021: Receipt of certificate of accreditation for “General Requirements for the Competence of Testing & Calibration Laboratories” with accreditation standard ISO/IEC 17025:2017 for laboratory grown diamonds from National Accreditation Board for Testing and Calibration Laboratories.
• 2022: Awarded for participation in the maiden B2B Expo by Gem and Jewellery Show.

History and milestones 

• 1999: Incorporation of the company.
• 2019: Alpha Yu and Lorie Holding acquired the company from Hattron (India) Limited
• 2023: BCP TopCo acquired the company from the Alpha Yu and Lorie Holding.