International Gemological Institute shares had a glittering market debut on Friday, listing at ₹510 on the NSE—a solid 22.3% premium over its ₹417 IPO price. On the BSE, it wasn’t far behind, opening at ₹504.85, marking a 21.07% jump. The ₹4,225 crore IPO had already turned heads during its subscription period from December 13 to 17, with bids pouring in at 35.48 times the shares on offer. The structure of IPO was a mix of a fresh issue of 3.54 crore shares (₹1,475 crore) and an offer-for-sale (OFS) of 6.59 crore shares (₹2,750 crore). With this, the promoter’s stake drops from a full 100% to 76.55%, signaling a step toward broader market participation. Retail investors can participate with a minimum lot of 35 shares, which amounts to an initial investment of ₹14,595. What’s the money for? Primarily, it’s earmarked to acquire IGI Belgium Group and IGI Netherlands Group—strategic moves to bolster their global presence.