Bookbuilding IPO | ₹451 Cr | Listed at BSE, NSE | Tue, Aug 19, 2025 - Thu, Aug 21, 2025
Gem Aromatics IPO is a book build issue of ₹451.25 crores. The issue is a combination of fresh issue of 0.54 crore shares aggregating to ₹175.00 crores and offer for sale of 0.85 crore shares aggregating to ₹276.25 crores.
Gem Aromatics IPO bidding started from Aug 19, 2025 and ended on Aug 21, 2025. The allotment for Gem Aromatics IPO was finalized on Aug 22, 2025. The shares got listed on BSE, NSE on Aug 26, 2025.
Gem Aromatics IPO price band is set at ₹325 per share. The lot size for an application is 46. The minimum amount of investment required by an retail is ₹14,950 (46 shares) (based on upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,09,300, and for bNII, it is 67 lots (3,082 shares), amounting to ₹10,01,650.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Gem Aromatics IPO RHP for detailed Information.
IPO Open
Tue, Aug 19, 2025
IPO Close
Thu, Aug 21, 2025
Issue Price
₹325 per share
Market Cap (Pre-IPO)
₹1,697.71 Cr
| IPO Date | 19 to 21 Aug, 2025 |
| Listed on | Tue, Aug 26, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹309 to ₹325 |
| Issue Price | ₹325 per share |
| Lot Size | 46 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,38,84,615 shares (agg. up to ₹451 Cr) |
| Fresh Issue | 53,84,615 shares (agg. up to ₹175 Cr) |
| Offer for Sale | 85,00,000 shares of ₹2 (agg. up to ₹276 Cr) |
| Share Holding Pre Issue | 4,68,52,523 shares |
| Share Holding Post Issue | 5,22,37,138 shares |
| BSE Script Code / NSE Symbol | 544491 / GEMAROMA |
| ISIN | INE06XZ01023 |
Gem Aromatics IPO offers total 1,38,84,615 shares. Out of which 69,42,306 (50.00%) allocated to QIB, 27,76,923 (20.00%) allocated to QIB (Ex- Anchor), 20,82,693 (15.00%) allocated to NII 48,59,616 (35.00%) allocated to RII and 41,65,383 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 69,42,306 (50.00%) | NA |
| − Anchor Investor Shares Offered | 41,65,383 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 27,76,923 (20.00%) | NA |
| NII (HNI) Shares Offered | 20,82,693 (15.00%) | NA |
| − bNII > ₹10L | 13,88,462 (10.00%) | 2,155 |
| − sNII < ₹10L | 6,94,231 (5.00%) | 1,077 |
| Retail Shares Offered | 48,59,616 (35.00%) | 1,05,643 |
| Total Shares Offered | 1,38,84,615 (100.00%) |
Investors can bid for a minimum of 46 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,950 |
| Retail (Max) | 13 | 598 | ₹1,94,350 |
| S-HNI (Min) | 14 | 644 | ₹2,09,300 |
| S-HNI (Max) | 66 | 3,036 | ₹9,86,700 |
| B-HNI (Min) | 67 | 3,082 | ₹10,01,650 |
Gem Aromatics IPO raises ₹135.37 crore from anchor investors. Gem Aromatics IPO Anchor bid date is August 18, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Aug 18, 2025 |
| Shares Offered | 41,65,383 |
| Anchor Portion (₹ Cr.) | 135.37 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 20, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 19, 2025 |
Incorporated in October 1997, Gem Aromatics Limited manufactures speciality ingredients, including essential oils, aroma chemicals, and Value-Added Derivatives in India, with over two decades of experience. The company offers various products, from Mother Ingredients to Value-Added Derivatives.
The company's products are used in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
The company provides a total of seventy products, categorized into four distinct groups, which include:
In Fiscal 2025, the company serves 225 customers and 44 international customers across 18 countries, including the Americas, Asia, Africa, and Australia.
The company sells products directly to customers on a business-to-business basis, with export sales through methods including (i) direct sales, (ii) sales via its subsidiary, Gem Aromatics LLC, in the USA, and (iii) sales through third-party agencies.
As of Mar 31, 2025, the company had an in-house R&D team of 13 scientists who pivotally implemented state-of-the-art technology that advanced our formulations in Value-Added Derivatives.
Competitive Strength
Gem Aromatics Ltd.'s revenue increased by 11% and profit after tax (PAT) rose by 7% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 534.52 | 368.57 | 295.76 |
| Total Income | 505.64 | 454.23 | 425.09 |
| Profit After Tax | 53.38 | 50.10 | 44.67 |
| EBITDA | 88.45 | 78.35 | 66.19 |
| NET Worth | 283.98 | 230.55 | 179.53 |
| Reserves and Surplus | 278.26 | 224.88 | 182.36 |
| Total Borrowing | 222.37 | 111.13 | 89.36 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary, Krystal Ingredients Private Limited; and | 140.00 |
| 2 | General Corporate Purposes | 22.86 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 18.80% |
| ROCE | 16.02% |
| Debt/Equity | 0.78 |
| RoNW | 18.80% |
| PAT Margin | 10.56% |
| EBITDA Margin | 17.55% |
| Price to Book Value | 5.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.39 | 10.22 |
| P/E (x) | 28.52 | 31.8 |
| Promoter Holding | 75% | 55.06% |
| Market Cap | ₹1,697.71 Cr. |
The Gem Aromatics IPO is subscribed 30.45 times on August 21, 2025 5:04:40 PM (Day 3). The public issue subscribed 10.49 times in the retail category, 53.76 times in the QIB category, and 45.96 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 53.76 | 27,76,925 | 14,92,90,470 |
| NII | 45.96 | 20,82,692 | 9,57,15,834 |
| bNII (bids above ₹10L) | 48.48 | 13,88,462 | 6,73,12,950 |
| sNII (bids below ₹10L) | 40.91 | 6,94,231 | 2,84,02,884 |
| Retail | 10.49 | 48,59,615 | 5,09,90,448 |
| Total | 30.45 | 97,19,232 | 29,59,96,752 |
Total Application : 10,59,134
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission) | 14.76 |
| 2 | Commission/ processing fee for SCSBs and Bankers to the Issue and fees payable to the Sponsor Banks for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for the members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.34 |
| 3 | Fees payable to Registrar to the Offer | 0.13 |
| 4 | Listing fees, SEBI fees, BSE and NSE processing fees, bookbuilding software fees, and other regulatory expenses | 3.46 |
| 5 | Printing and stationery expenses | 0.48 |
| 6 | Advertising and marketing expenses | 2.17 |
| 7 | Fees payable to the legal counsels to the Offer | 4.00 |
| 8 | Fees payable to the Statutory Auditors | 0.53 |
| 9 | Miscellaneous | 4.40 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹325.00 | ₹325.00 |
| Open | ₹325.00 | ₹333.10 |
| Low | ₹315.00 | ₹314.65 |
| High | ₹349.00 | ₹349.60 |
| Last Trade | ₹319.10 | ₹319.05 |
Lead Manager Reports
Gem Aromatics IPO is a main-board IPO of 1,38,84,615 equity shares of the face value of ₹2 aggregating up to ₹451 Crores. The issue is priced at ₹325 per share. The minimum order quantity is 46.
The IPO opens on Tue, Aug 19, 2025, and closes on Thu, Aug 21, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Gem Aromatics IPO using UPI as a payment gateway. Zerodha customers can apply in Gem Aromatics IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gem Aromatics IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Gem Aromatics IPO opens on Tue, Aug 19, 2025 and closes on Thu, Aug 21, 2025.
Gem Aromatics IPO lot size is 46, and the minimum amount required for application is ₹14,950.
You can apply in Gem Aromatics IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Gem Aromatics IPO will be done on Friday, August 22, 2025, and the allotted shares will be credited to your demat account by Mon, Aug 25, 2025. Check the Gem Aromatics IPO allotment status.
The Gem Aromatics IPO listing date is on Tue, Aug 26, 2025.
