Gem Aromatics IPO Price Band Announced For Rs 451-Crore Issue
The IPO is a mix of fresh issue of equity shares worth up to Rs 175 crore and an offer for sale (OFS) of up to 85 lakh shares valued at Rs 276.25 crore.
Gem Aromatics Ltd., a manufacturer of speciality ingredients, on Wednesday set a price band of Rs 309 to Rs 325 per share for its upcoming initial public offering (IPO).
The Rs 451-crore IPO would open for subscription on Aug. 19 and conclude on Aug. 21, the company announced.
The IPO is a mix of fresh issue of equity shares worth up to Rs 175 crore and an offer for sale (OFS) of up to 85 lakh shares valued at Rs 276.25 crore.
Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes.
Gem Aromatics is a manufacturer of speciality ingredients in India, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of experience. Its client portfolio includes names like Colgate-Palmolive, Dabur, Patanjali, SH Kelkar, Rossari Biotech, and Symrise, among others.
The company operates three advanced manufacturing facilities located in Uttar Pradesh, Dadra and Nagar Haveli, and Gujarat.
Gem Aromatics' revenue from operations increased by 11.4% to Rs 503.95 crore in fiscal 2025 from Rs 452.45 crore in the previous fiscal, and profit rose 6.5% to Rs 53.38 crore for fiscal 2025 from Rs 50.10 crore in the preceding financial year.
Motilal Oswal Investment Advisors is the sole book-running lead manager, and KFin Technologies is the registrar to the offer.
