International gemmological institute (India) Limited has successfully completed a strategic acquisition that expands its global footprint in the gemological services industry. The company announced the completion of the acquisition of AGL Holdco Inc by its step-down wholly owned subsidiary International Gemological Institute Inc (IGI USA).

Acquisition Details

The acquisition was completed on February 14, 2026, following board approval granted on January 31, 2026. IGI USA acquired 100% of the shareholding of AGL Holdco Inc from the sellers Christopher P Smith and Helene Smith. This transaction also resulted in the indirect acquisition of American Gemological Laboratories LLC (AGL), which is a wholly owned subsidiary of AGL Holdco.

Corporate Structure Changes

Following the completion of this acquisition, significant changes have occurred in the corporate structure. AGL Holdco Inc has become a wholly owned subsidiary of IGI USA and a step-down wholly owned subsidiary of both IGI Belgium and IGI India, effective February 10, 2026.

Additionally, American Gemological Laboratories LLC, which was previously a wholly owned subsidiary of AGL Holdco, has now become a step-down wholly owned subsidiary of IGI USA, IGI Belgium, and IGI India, also effective from the same date.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the company's earlier intimation dated January 31, 2026, which informed stakeholders about the board's approval for the fund infusion and acquisition plans.

Investment Structure

The acquisition was facilitated through a structured investment approach involving multiple international subsidiaries. IGI India initially infused funds into International Gemmological Institute BV (IGI Belgium), its wholly owned subsidiary, which then invested in IGI USA. This step-down subsidiary structure enabled the final acquisition of AGL Holdco and the indirect acquisition of American Gemological Laboratories LLC.

The completion of this acquisition strengthens IGI India's international presence and expands its capabilities in the gemological services sector through the addition of American Gemological Laboratories to its global network.

International Gemmological Institute (India) Limited has announced a strategic acquisition that will significantly expand its presence in the colored gemstone certification market. The company's board of directors approved the acquisition of AGL Holdco Inc and its subsidiary American Gemological Laboratories (AGL) through step-down subsidiary IGI USA on January 31, 2026.

Transaction Structure and Financial Details

The acquisition involves IGI USA purchasing 100% stake in AGL Holdco Inc from sellers Christopher P Smith and Helene Smith. The total consideration amounts to USD 13.2 million, structured as follows:

The transaction is expected to complete within 2 months and does not require any governmental or regulatory approvals. Following completion, AGL Holdco will become a wholly-owned subsidiary of IGI USA and a step-down subsidiary of IGI Belgium and IGI India.

Target Company Profile

American Gemological Laboratories, founded in 1977 and headquartered in New York's gem and jewelry district, specializes in comprehensive colored gemstone analysis. The company has demonstrated consistent growth in recent years:

*Based on tax returns

AGL is recognized as a pioneer in the colored gemstone industry, being the first gemological laboratory in the USA to issue country-of-origin reports and the first globally to quantify colored stone quality in a comparative manner. The company provides detailed identification and enhancement reports, country-of-origin reports, and complete colored stone analysis documents for gems of unique importance.

Strategic Rationale and Business Impact

The acquisition creates a comprehensive global certification platform combining IGI's industry-leading scale and infrastructure with AGL's specialized expertise in colored gemstones. Key strategic benefits include:

• Market Expansion: IGI gains access to the fast-growing colored gemstone segment and expands its addressable market
• Revenue Diversification: The transaction diversifies IGI's revenue streams beyond its traditional diamond certification business
• Global Reach: AGL will gain access to IGI's global infrastructure to expand colored gemstone certification services beyond the US market
• Scientific Excellence: The combined entity will leverage AGL's deep scientific expertise and pioneering leadership in colored gemstones

Operational Continuity and Leadership

Christopher Smith will continue as President and Chief Gemologist of AGL, ensuring business continuity and maintaining the laboratory's scientific independence. AGL will remain headquartered in New York and operate independently under its established brand while benefiting from IGI's global network and resources. No immediate operational changes are planned, with both organizations committed to maintaining existing technical standards and client service levels.

Market Positioning

The transaction strengthens strategic linkages between the United States, the world's largest market for fine jewelry and colored gemstones, and India, a global hub for gemstone manufacturing and certification. The combined platform positions the group to serve the global gemstone trade with enhanced scale, scientific capability, and geographic reach, addressing evolving market demands for provenance, transparency, and consistency in gemstone certification.