Gem Aromatics IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Aug 19 to Aug 21 2025
Price Band
₹325
Current GMP
₹333.1(+2.49%)
Subscription
30.45 times
IPO Details
| IPO Date | August 19, 2025 to August 21, 2025 |
| Listing Date | August 26, 2025 |
| Face Value | ₹2 per share |
| Issue Price | ₹325 per share |
| Lot Size | 46 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,38,84,615 shares (aggregating up to ₹451.25 Cr) |
| Fresh Issue | 53,84,615 shares (aggregating up to ₹175.00 Cr) |
| Offer for Sale | 85,00,000 shares of ₹2 (aggregating up to ₹276.25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,68,52,523 shares |
| Share Holding Post Issue | 5,22,37,138 shares |
IPO Date
August 19, 2025 to August 21, 2025
Listing Date
August 26, 2025
Face Value
₹2 per share
Issue Price
₹325 per share
Lot Size
46 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
1,38,84,615 shares (aggregating up to ₹451.25 Cr)
Fresh Issue
53,84,615 shares (aggregating up to ₹175.00 Cr)
Offer for Sale
85,00,000 shares of ₹2 (aggregating up to ₹276.25 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
4,68,52,523 shares
Share Holding Post Issue
5,22,37,138 shares
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 53.76 |
| Non-Institutional Buyers | 45.96 |
| bNII (bids above ₹10L) | 48.48 |
| sNII (bids below ₹10L) | 40.91 |
| Retail Investors | 10.49 |
| Total ** | 30.45 |
Anchor Investors
1
QIB (Ex Anchor)
53.76
Non-Institutional Buyers
45.96
bNII (bids above ₹10L)
48.48
sNII (bids below ₹10L)
40.91
Retail Investors
10.49
Total **
30.45
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Aug 19, 2025 | 1.03 | 0.89 | 0.68 | 1.32 | 1.10 | 1.04 |
| Day 2 Aug 20, 2025 | 1.50 | 4.03 | 2.96 | 6.17 | 3.25 | 2.92 |
| Day 3 Aug 21, 2025 | 53.76 | 45.96 | 48.48 | 40.91 | 10.49 | 30.45 |
DayDay 1
Aug 19, 2025
QIB (Ex Anchor)1.03
NII0.89
NII (> ₹10L)0.68
NII (< ₹10L)1.32
Retail1.10
Total1.04
DayDay 2
Aug 20, 2025
QIB (Ex Anchor)1.50
NII4.03
NII (> ₹10L)2.96
NII (< ₹10L)6.17
Retail3.25
Total2.92
DayDay 3
Aug 21, 2025
QIB (Ex Anchor)53.76
NII45.96
NII (> ₹10L)48.48
NII (< ₹10L)40.91
Retail10.49
Total30.45
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 26-08-2025 | 325.00 | 33(10.15%) | 358 |
| 25-08-2025 | 325.00 | 33(10.15%) | 358 |
| 24-08-2025 | 325.00 | 28(8.62%) | 353 |
| 23-08-2025 | 325.00 | 28(8.62%) | 353 |
| 22-08-2025 | 325.00 | 27(8.31%) | 352 |
| 21-08-2025 | 325.00 | 28(8.62%) | 353 |
| 20-08-2025 | 325.00 | 26(8.00%) | 351 |
| 19-08-2025 | 325.00 | 26(8.00%) | 351 |
| 18-08-2025 | 325.00 | 28(8.62%) | 353 |
| 17-08-2025 | 325.00 | 35(10.77%) | 360 |
| 16-08-2025 | 325.00 | 38(11.69%) | 363 |
| 15-08-2025 | 325.00 | 41(12.62%) | 366 |
| 14-08-2025 | 325.00 | 0(0.00%) | 325 |
| 13-08-2025 | 325.00 | 0(0.00%) | 325 |
Date26-08-2025
Price325.00
GMP33(10.15%)
Estimate List Price358
Date25-08-2025
Price325.00
GMP33(10.15%)
Estimate List Price358
Date24-08-2025
Price325.00
GMP28(8.62%)
Estimate List Price353
Date23-08-2025
Price325.00
GMP28(8.62%)
Estimate List Price353
Date22-08-2025
Price325.00
GMP27(8.31%)
Estimate List Price352
Date21-08-2025
Price325.00
GMP28(8.62%)
Estimate List Price353
Date20-08-2025
Price325.00
GMP26(8.00%)
Estimate List Price351
Date19-08-2025
Price325.00
GMP26(8.00%)
Estimate List Price351
Date18-08-2025
Price325.00
GMP28(8.62%)
Estimate List Price353
Date17-08-2025
Price325.00
GMP35(10.77%)
Estimate List Price360
Date16-08-2025
Price325.00
GMP38(11.69%)
Estimate List Price363
Date15-08-2025
Price325.00
GMP41(12.62%)
Estimate List Price366
Date14-08-2025
Price325.00
GMP0(0.00%)
Estimate List Price325
Date13-08-2025
Price325.00
GMP0(0.00%)
Estimate List Price325
IPO Important Dates
| IPO Open Date | Tue, Aug 19, 2025 |
| IPO Close Date | Thu, Aug 21, 2025 |
| Tentative Allotment | Fri, Aug 22, 2025 |
| Initiation of Refunds | Mon, Aug 25, 2025 |
| Credit of Shares to Demat | Mon, Aug 25, 2025 |
| Tentative Listing Date | Tue, Aug 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
IPO Open Date
Tue, Aug 19, 2025
IPO Close Date
Thu, Aug 21, 2025
Tentative Allotment
Fri, Aug 22, 2025
Initiation of Refunds
Mon, Aug 25, 2025
Credit of Shares to Demat
Mon, Aug 25, 2025
Tentative Listing Date
Tue, Aug 26, 2025
Cut-off time for UPI mandate confirmation
5 PM on August 21, 2025
IPO Lot Size
| 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 |
ApplicationRetail (Min)
Lots1
Shares46
Amount₹14,950
ApplicationRetail (Max)
Lots13
Shares598
Amount₹1,94,350
ApplicationS-HNI (Min)
Lots14
Shares644
Amount₹2,09,300
ApplicationS-HNI (Max)
Lots66
Shares3,036
Amount₹9,86,700
ApplicationB-HNI (Min)
Lots67
Shares3,082
Amount₹10,01,650
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| 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 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 2025534.52
31 Mar 2024368.57
31 Mar 2023295.76
Period EndedTotal Income
31 Mar 2025505.64
31 Mar 2024454.23
31 Mar 2023425.09
Period EndedProfit After Tax
31 Mar 202553.38
31 Mar 202450.10
31 Mar 202344.67
Period EndedEBITDA
31 Mar 202588.45
31 Mar 202478.35
31 Mar 202366.19
Period EndedNet Worth
31 Mar 2025283.98
31 Mar 2024230.55
31 Mar 2023179.53
Period EndedReserves and Surplus
31 Mar 2025278.26
31 Mar 2024224.88
31 Mar 2023182.36
Period EndedTotal Borrowing
31 Mar 2025222.37
31 Mar 2024111.13
31 Mar 202389.36
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) |
|---|---|---|---|---|---|
| Gem Aromatics | 11.39 | 11.39 | 60.61 | 18.80 | |
| Clean Science and Technology | 24.88 | 24.88 | 133.29 | 57.33 | 18.67 |
| Privi Speciality Chemicals | 47.87 | 47.87 | 282.47 | 50.51 | 16.95 |
| Camlin Fine Sciences | -8.03 | -7.95 | 46.23 | -16.01 | |
| Yasho Industries | 5.32 | 5.32 | 348.09 | 374.92 | 1.46 |
| S H Kelkar and Company | 5.40 | 5.40 | 90.66 | 42.33 | 5.83 |
| Oriental Aromatics | 10.20 | 10.20 | 196.20 | 36.97 | 5.20 |
Company NameGem Aromatics
EPS (Basic)11.39
EPS (Diluted)11.39
NAV (per share) (Rs)60.61
P/E (x)
RoNW (%)18.80
Company NameClean Science and Technology
EPS (Basic)24.88
EPS (Diluted)24.88
NAV (per share) (Rs)133.29
P/E (x)57.33
RoNW (%)18.67
Company NamePrivi Speciality Chemicals
EPS (Basic)47.87
EPS (Diluted)47.87
NAV (per share) (Rs)282.47
P/E (x)50.51
RoNW (%)16.95
Company NameCamlin Fine Sciences
EPS (Basic)-8.03
EPS (Diluted)-7.95
NAV (per share) (Rs)46.23
P/E (x)
RoNW (%)-16.01
Company NameYasho Industries
EPS (Basic)5.32
EPS (Diluted)5.32
NAV (per share) (Rs)348.09
P/E (x)374.92
RoNW (%)1.46
Company NameS H Kelkar and Company
EPS (Basic)5.40
EPS (Diluted)5.40
NAV (per share) (Rs)90.66
P/E (x)42.33
RoNW (%)5.83
Company NameOriental Aromatics
EPS (Basic)10.20
EPS (Diluted)10.20
NAV (per share) (Rs)196.20
P/E (x)36.97
RoNW (%)5.20
IPO Reservation
| Investor Category | Shares Offered | Maximum 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%) |
Investor CategoryQIB Shares Offered
Shares Offered69,42,306 (50.00%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered41,65,383 (30.00%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered27,76,923 (20.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered20,82,693 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered13,88,462 (10.00%)
Maximum Allottees2,155
Investor Category− sNII < ₹10L
Shares Offered6,94,231 (5.00%)
Maximum Allottees1,077
Investor CategoryRetail Shares Offered
Shares Offered48,59,616 (35.00%)
Maximum Allottees1,05,643
Investor CategoryTotal Shares Offered
Shares Offered1,38,84,615 (100.00%)
Maximum Allottees
Information about company
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:
Mint and its derivatives;;
Clove and its derivatives;
Phenol; and
Other synthetic and natural ingredients.
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
A reputable manufacturer of specialty ingredients in India, encompassing essential oils, aroma chemicals, and value-added derivatives.
Wide product range with continuous product development and R&D capabilities.
Long-standing relationship with well-established customers in India and globally
Strategically located Manufacturing Facilities with a focus on sustainability
Experienced Promoters and management team.
Objectives of IPO
The Company Gem Aromatics IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
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
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