Gem Aromatics IPO Updates: Check Day Three Subscription Status, GMP, Other Details
Gem Aromatics intends to fulfill prepayment or repayment for all or a portion of certain outstanding borrowings.
Gem Aromatics IPO: Gem Aromatics Ltd.'s initial public offer has been subscribed 30.27 times on the final day. The IPO was subscribed 3.22 times on day two. It is a book-built issue worth Rs 451.25 crore. The mainboard issue comprises a fresh issue of 54 lakh shares, totalling Rs 175 crore, and an offer-for-sale component of 85 lakh shares, worth Rs 276.25 crore.
Gem Aromatics IPO Details
IPO opens: Aug. 19
IPO closes: Aug. 21
Issue size: 1.39 crore shares
Fresh issue: Rs 175 crore
Tentative allotment date: Aug. 22
Tentative listing date: Aug. 26
Face value: Rs 2 per share
Issue type: Bookbuilding IPO
Listing platform: BSE, NSE
Gem Aromatics IPO Objectives
Gem Aromatics intends to fulfill prepayment or repayment for all or a portion of certain outstanding borrowings. The company will also use proceeds for general corporate purpose.
Gem Aromatics IPO GMP
Grey Market Premium for Gem Aromatics is at Rs 28 as of 7:00 p.m., as per details on Investorgain website. According to GMP, Gem Aromatics is expected to list at Rs 353 apiece, which implied 8.6% premium over issue price.
Gem Aromatics IPO Subscription
Gem Aromatics IPO was subscribed 30.27 times as of 7:00 p.m., on Thursday.
Qualified Institutions: 55.28 times
Non-Institutional Buyers: 45.06 times
Retail Investors: 10.31 times.
