International Gemological Institute of India Limited - IPO

1. 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.

2. First mover and global market leader in providing certification services for the fast-growing laboratory grown diamond industry.

3. Extensive range of services for certification and accreditation services provided to a diverse group of customers along the value chain.

4. Education initiatives that support spreading awareness, building customer partnerships and our brand.

5. Demonstrated track record of delivering growth in revenue, margins and returns.

6. Experienced professional management team backed by the largest alternate asset manager globally.

1. Our Company proposes to use the Net Proceeds from the Fresh Issue for the Proposed Acquisitions, following which our Company will be responsible for overseeing and managing the overall IGI business inside and outside of India. We may face difficulties managing and administering an internationally dispersed business and may not be able to achieve operational efficiencies following the Proposed Acquisitions, which could adversely affect our business or results of operations.

2. Unaudited Pro Forma Condensed Combined Financial Information included in this Red Herring Prospectus is prepared on a voluntary basis for illustration purposes only. Our actual results may differ from the actual outcome of the Proposed Acquisitions as presented in such Unaudited Pro Forma Condensed Combined Financial Information.C

3. The valuation report obtained for the Proposed Acquisitions is based on various assumptions and may not be indicative of the true value of the IGI Belgium Group and the IGI Netherlands Group.

4. A significant portion of the Net Proceeds are proposed to be paid to the Promoter of our Company.

5. Our success depends substantially on the value of our brand and our reputation, and adverse publicity, damage to our brand or a loss of reputation could impact the demand for our services or erode our market share or otherwise have a material adverse effect on our business.

6. Most of business operations of the Pre-Acquisition Group are conducted on premises obtained on lease or leave and license basis and any inability to seek renewal or extension of such leases or leave and license agreements may materially affect our business operations. Further, certain of these premises have not been registered as required under Indian law.

7. Our Promoter acquired our Company in Calendar Year 2023 and does not have significant experience in our line of business.

8. Our Promoter will continue to retain significant shareholding in our Company after the Offer, which will allow them to exercise influence over us. Any substantial change in our Promoter's shareholding, or shareholding of our Company, may have an impact on the trading price of our Equity Shares which could have an adverse effect on our business, financial condition, results of operations and cash flows.

9. We have entered, and may continue to enter into related party transactions which may involve conflicts of interest. Further, our Promoter, Directors, Group Companies, Key Managerial Personnel and Senior Management Personnel have interests in us other than the reimbursement of expenses incurred and normal remuneration and benefits.

10. We do not have exclusive or long term contracts with our customers, and there is no assurance that they will continue to demand for our services.