top of page
Laxmi Diamonds.png

Blackstone mulls IGI listing; seeks valuation of up to $3.5 billion

Blackstone is considering listing the International Gemological Institute (IGI) on the stock exchange in India, seeking a valuation of up to $3.5 billion for the grading laboratory, Reuters reported.

The US investment group aims to raise $300 million from the initial public offering (IPO), according to the report, which cited three unnamed sources.

Blackstone bought IGI for just under $570 million in May last year. China’s Fosun International previously owned 80%, while IGI CEO Roland Lorie’s holding company, Lorie Holding, held 20%. Both parties sold their entire stakes to Blackstone.The possible IPO less than a year after the investment is an attempt to capitalize on India’s booming stock market, Reuters said, referencing two of the sources.


For more Updates Do follow us on Social Media



bottom of page