IGI stock drops 55% before shareholder lock-in ends

Shares of International Gemmological Institute (IGI) are down nearly 55% from their post-listing high of ₹642, reaching a low of ₹282. The stock has also fallen about 30% from its IPO price of ₹417. On March 18, the three-month shareholder lock-in period ends, allowing 2.28 crore shares, or 5% of the company's equity, to be traded. This does not guarantee that all shares will be sold. IGI's stock has declined 2.5% on Monday, closing at ₹300.7. It has dropped in five of the last six trading sessions.