The International Gemological Institute (IGI) has filed for an initial public offering (IPO), with the intent of raising INR 40 billion ($477 million).
Among other things, the move seeks to capitalize on the growing global demand for synthetics, according to the August 22 prospectus, which the company filed on two Indian stock exchanges. IGI is one of the largest diamond-grading labs and is a major player in the lab-grown market.
