International Gemmological Institute (India) Limited (IGI India) announced that its step-down wholly owned subsidiary, International Gemological Institute Inc. (IGI USA), has approved the acquisition of 100% of the stake in AGL Holdco Inc. The acquisition was approved by the Board of Directors of IGI India during their meeting held on Saturday, January 31, 2026. This strategic move involves the execution of a Stock Purchase Agreement (SPA) between IGI USA, AGL Holdco Inc., Christopher P. Smith, Helene Smith, American Gemological Laboratories, LLC (AGL), and Colorcodex LLC. AGL Holdco will become a wholly owned subsidiary of IGI USA, and consequently, a step-down wholly owned subsidiary of IGI Belgium and IGI India. American Gemological Laboratories, LLC, a subsidiary of AGL Holdco, will also become a step-down subsidiary of IGI USA, IGI Belgium, and IGI India. The acquisition is aimed at expanding business in an important market, combining IGI's global scale and infrastructure with AGL's scientific expertise in colored gemstones. AGL, founded in 1977, specializes in comprehensive colored gemstone analysis and provenance reporting. The total cash consideration for the acquisition is USD 9,000,000 payable on closing, subject to adjustments, and a balance of USD 4,200,000 payable post-closing, subject to certain conditions, totaling approximately USD 13,200,000 (approximately ₹110 crore). The acquisition is expected to be completed within two months. This transaction is not a related party transaction, and the promoter/promoter group/group companies do not have any interest in the entity being acquired. The Board Meeting commenced at 4:00 p.m. and concluded at 4:09 p.m. on January 31, 2026.
