The recent acquisition of the IGI grading labs has spurred discussions of an initial public offering (IPO) in India, as per a Reuters report. Last May, the US-based Blackstone Group acquired the network comprising 29 labs and 18 gemology schools for $570 million, facilitated through a Singapore-based subsidiary.

Reports indicate a contemplation to raise $300 million via an IPO, with a targeted company valuation ranging between $1.5 billion and $3.5 billion.

Established in Antwerp in 1975 by Marcel Lorie, IGI conducts a significant portion of its operations in India. In 2018, Fosun International Ltd, based in China, acquired an 80 percent stake in the company. Blackstone has reportedly enlisted the expertise of Morgan Stanley and Mumbai-based Kotak Mahindra Bank to explore the possibility of a public listing in India, aligning with prevailing market conditions.