International Gemological Institute Ltd.

International Gemmological Institute (India) has acquired 100% stake in IGI Netherlands B.V. and International Gemmological Institute BV for a consideration of $88,440,543 and $69,761,445 respectively. Pursuant to acquisition now IGI Netherlands B.V. and International Gemmological Institute BV are wholly owned subsidiaries of the Company.

International Gemmological Institute (India) is an independent certification and accreditation services provider for diamonds, studded jewelry and colored stones certifications.