Gem Aromatics IPO Listing Date: Check Expected Listing Price Based On Latest GMP

Gem Aromatics Ltd. is slated to make its stock market debut on the BSE and NSE on Tuesday, August 26. In the run-up to the listing, the IPO’s grey market premium has remained constant, signalling expectations of healthy gains for investors.

The initial public offering (IPO) of Gem Aromatics was open for subscription from August 19 to August 21. The allotment of shares was finalised on August 22. The mainboard issue was booked 30.27 times on the third and final day of bidding. It received bids for 29,61,15,202 shares against 97,82,363 offered.

The latest GMP for the Gem Aromatics IPO stood at Rs 28 as of 11:00 a.m. on August 25. The current GMP indicates a listing price of Rs 353 apiece at a premium of 8.62% on the upper limit of the price band.

This means that the unlisted shares of Gem Aromatics were trading at Rs 353 per share at the private market.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

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The company will use proceeds from the IPO to clear debt and for general corporate purposes.

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The Gem Aromatics IPO was a book-built issue of Rs 451.25 crore. It comprised a fresh issue of 54 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 85 lakh shares worth Rs 276.25 crore. The price band for the IPO was set between Rs 309 and Rs 325 per share.

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Qualified Institutional Buyers subscribed to the offer 55.28 times, and Non-Institutional Investors booked the issue 45.06 times. Retail investors subscribed to the issue 10.31 times.

The company manufactures products such as essential oils and aroma chemicals. Its products are used in industries such as pharmaceuticals, cosmetics and personal care.

Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the IPO.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.