OUR BUSINESS
Our Company was incorporated on July 04, 2020 Our primary business is the provision of services related to the certification and accreditation of natural diamonds, laboratorygrown diamonds, studded jewelry and colored stones as well as the offering of educational programs.
Our Company, IGI India, is part of IGI, which is one of the established reputed certifiers in the global market.
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 147 approximately 33%, based on the number of certifications of diamonds, studded jewelry and colored stones performed in CY2023.
IGI has a global network of 31 branches which are equipped with IGI laboratories across 10 countries and 18 schools of gemology across 6 countries.
IGI is one of three players that offer a full stack of comprehensive offerings among our global peers, covering grading and classification services across different stone types. The key services/offerings we offer are as follows:
Comprehensive diamond grading :- including issuing reports assessing the 4Cs (cut, color, clarity, and carat weight) of natural and laboratory-grown diamonds, along with additional information such as fluorescence and symmetry. We also provide screening and sorting services, if required by our customers.
• Evaluating the quality and authenticity of colored stones :- including rubies, sapphires, emeralds, and other precious and semi-precious stones, and issuing grading reports detailing their characteristics.
• Grading and assessment of finished jewelry pieces :- including assessing the quality of diamonds, colored stones, craftsmanship, such as mounting and symmetry, and overall value.
• Conducting educational programs and courses :- in gemology, diamond grading, jewelry design, and related subjects for professionals and enthusiasts in the diamonds, studded jewelry and colored stones industry. Our certification and accreditation business benefits from a foundation in education offered through our gemology education institution, the
IGI Schools of Gemology, where we leverage educating the industry on the importance of diamonds, studded jewelry and colored stones certifications and the terminology used in the industry as a precursor to demand for our certification business.
The following diagram illustrates the revenue segments of the Post-Acquisition Group for
To support our laboratory-based services, we offer digital solutions through our online platforms including our website and application programming interface (“API”), for our customers and their end-consumers to access their respective grading reports. These are accessible through a QR code in our grading reports and also allows our customers to track the status of their submissions.
We also conduct research and development activities through our in-house research and development team in gemology and related fields to advance knowledge and understanding of diamonds and colored stones, their characteristics, treatments, and identification methods. Certain research and development activities are complementary to the key services we
offer customers and allow us to improve and enhance our service offerings.
We have built our customer relationships over the years, by focusing on our service quality and full-service offering across all types of diamonds, studded jewelry and colored stones certification and accreditation.
IGI laboratories located across 10 countries, including in key markets such as Surat and Mumbai in India, Antwerp, Belgium, New York, USA, Bangkok, Thailand, Dubai, UAE, Hong Kong and Shanghai, the PRC, among other cities.
OBJECTS OF ISSUE
(a) Payment of the purchase consideration for the acquisition of IGI Belgium Group and IGI Netherlands Group from our Promoter.
(b) General corporate purposes.
Qualitative Factors
- World’s second largest independent certification and accreditation services provider among our global peers for loose stones and studded jewelry and in an industry characterized by barriers to entry.
- First 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 our brand.
- Demonstrated track record of delivering growth in revenue, margins and returns.
- Experienced professional management team backed by the largest alternate asset manager globally
