Gem Aromatics IPO
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Gem Aromatics IPO details
Schedule of Gem Aromatics
| Issue open date | 19 Aug 2025 |
| Issue close date | 21 Aug 2025 |
| UPI mandate deadline | 21 Aug 2025 (5 PM) |
| Allotment finalization | 22 Aug 2025 |
| Refund initiation | 25 Aug 2025 |
| Share credit | 25 Aug 2025 |
| Listing date | 26 Aug 2025 |
| Mandate end date | 05 Sep 2025 |
| Lock-in end date for anchor investors (50%) | 21 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 20 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Gem Aromatics
Gem Aromatics is a Mumbai-based company engaged in the manufacturing of essential oils and aroma chemicals. Founded in 1997, the company serves the global flavour and fragrance industry with a broad range of products. With a focus on quality, compliance, and innovation, Gem Aromatics has established a presence in both domestic and international markets, supplying to clients across the USA, UK, France, and other regions.
Financials of Gem Aromatics
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹451.25 crores |
| Fresh Issue | ₹175 crores |
| Offer for sale | ₹276.25 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment of outstanding borrowings | 140 (80%) |
| General corporate purposes |
Strengths
- Diverse product range with strong domestic and global client relationships
- Modern manufacturing infrastructure and R&D focus
- Strong relationships with prominent clients like Colgate-Palmolive, Dabur, and Patanjali.
- Steady revenue growth in recent financial years
Risks
- High dependence on a few major customers, especially doTERRA
- Dependence on mint and mint derivatives, accounting for approximately 73% of revenue in FY 2024.
- Ongoing litigation concerning land at the Budaun facility
- No long-term contracts with key customers and suppliers
- Vulnerable to raw material price volatility and regulatory changes
Allotment Status for Gem Aromatics
To check your allotment status – click here.
Subscription Figures for Gem Aromatics
As per media reports (Link), the Grey Market Premium (GMP) of Gem Aromatics is reported at ₹26 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on August 21, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 27.76 | 1492.90 | 53.76x |
| NII | 20.82 | 957.15 | 45.96x |
| Retail | 48.59 | 509.90 | 10.49x |
| Total | 97.19 | 2959.96 | 30.45x |