Gem Aromatics was incorporated on October 3, 1997. The company is a leading manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives, with over 20 years of experience. The company's diverse product range serves industries like oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, and personal care
| Bidding Dates |
|---|
| 19 Aug 2025 - 21 Aug 2025 |
| Subscription |
|---|
| 30.27x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,214 | 1 | 13 | 46 | 13.9 M | ₹309 - ₹325 | 55.06 % | ₹4290.3 M - ₹4512.5 M | RHP DOC |
Gem Aromatics IPO SUBSCRIPTION STATUS
21 Aug '25Gem Aromatics IPO overall subscription rate was 30.27 times the total available shares
Gem Aromatics IPO retail subscription rate was 10.31 times in the retail segment
Gem Aromatics IPO non-institutional investor subscription rate was 45.06 times in the non-institutional investor category
Gem Aromatics IPO Qualified Institutional Bidder subscription rate was 55.28 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
21 Aug 2025 (Day 3) | 10.31x | 45.06x | 55.28x |
20 Aug 2025 (Day 2) | 3.19x | 3.95x | 1.54x |
19 Aug 2025 (Day 1) | 1.08x | 0.88x | 1.05x |
Gem Aromatics FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 504.0 | 53.4 | -24.9 | -129.8 | 17.6% |
| FY24 | 452.5 | 50.1 | 40.1 | 1.0 | 17.3% |
| FY23 | 424.8 | 44.7 | 15.3 | 0.9 | 15.6% |
Gem Aromatics IPO SUBSCRIPTION STATUS DETAILS
Gem Aromatics had 13.9 M shares on offer
Gem Aromatics IPO offer price was in the range ₹309 - ₹325
Gem Aromatics IPO minimum Investment was ₹14214
Gem Aromatics IPO issue size was ₹ 4290.3 M - ₹ 4512.5 M
Gem Aromatics had a minimum lot size of 46 Shares per application
Gem Aromatics NUMBER OF SHARES ON OFFER
Gem Aromatics IPO IMPORTANT DATES
| Issue Open Date | 19 Aug 2025 |
| Issue close Date | 21 Aug 2025 |
| Allotment Date | 22 Aug 2025 |
| Refund Date | 25 Aug 2025 |
| Demat Account Credit Date | 25 Aug 2025 |
| Listing Date | 26 Aug 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Gem Aromatics Allotment Status | Exchange/ Registrar |
Gem Aromatics IPO subscription opened on 19 Aug 2025, and closed on 21 Aug 2025
IPO allotment for Gem Aromatics was finalized on Friday, 22 Aug 2025
IPO listing for Gem Aromatics was on NSE and BSE on Tuesday, 26 Aug 2025
Gem Aromatics IPO LISTING GAINS
| Issue Price (adjusted) | 325.0 |
| Listing Open Price | 333.1 |
| Listing Close Price | 319.1 |
| Listing Gain% | 2.5% |
| Current Gain% | -44.2% |
Gem Aromatics Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gem Aromatics Ltd. | 181.4 | 947.8 | 666.1 | -6.8 | 2.6 | 0.3 | 0.2 | 367.4 | -27.3 | 1.4 | -97.3 | 0.3 | -97.3 |
| Pidilite Industries Ltd. | 1685.8 | 171579.1 | 64.8 | 3 | 11.1 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2570 | 76181.2 | 35.2 | 0.7 | 4.5 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4416.2 | 48512 | 83.9 | 14.3 | 9.7 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 755.5 | 38119.6 | 47.7 | 1.6 | 7.7 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1634.2 | 21687.9 | 92.2 | 2.7 | 17.7 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Gem Aromatics INFORMATION ON IPO ISSUE
About Gem Aromatics
Gem Aromatics was incorporated on October 3, 1997. The company is a leading manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives, with over 20 years of experience. The company's diverse product range serves industries like oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, and personal care
Object of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company and its subsidiary, Krystal Ingredients
- General corporate purposes
Gem Aromatics - PROMOTERS
| Name |
|---|
| Vipul Parekh |
| Kaksha Vipul Parekh |
| Yash Vipul Parekh |
| Parekh Family Trust |
Gem Aromatics - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Vipul Parekh | Chairman & Whole-Time Director |
| Kaksha Vipul Parekh | Whole-Time Director & Chief Financial Officer |
| Yash Vipul Parekh | Managing Director & Chief Executive Office |
| Ajay Sahai | Independent Director |
| Shrenik Kishorbhai Vora | Independent Director |
| Vishakha Hari Bhagvat | Independent Director |
| Parag Ratnakar Gogate | Independent Director |
| Shubhangi Bhalchandra Umbarkar | Independent Director |
Gem Aromatics Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
gem.ipo@motilaloswal.com
Gem Aromatics Registrar to the Offer
KFin Technologies Limited
gal.ipo@kfintech.com
Gem Aromatics Strengths
Diverse product range
The company offers a broad and varied product portfolio, with 70 products as of September 30, 2024, across four key categories: (i) mint and mint derivatives, (ii) clove and clove derivatives, (iii) phenol, and (iv) other synthetic and natural ingredients
Robust R&D capabilities
The company maintains high manufacturing standards, with a strong focus on R&D to drive growth. The R&D team excels in complex chemistries and advanced technologies like Grignard’s reactions, Friedel-Crafts reactions, and process automation, ensuring continuous innovation and efficiency
Geographical advantage
The company's Budaun Facility is located in India's mint cultivation belt, ensuring easy access to key raw materials like Mentha Arvensis and Spearmint. Additionally, the Silvassa Facility's proximity to Jawaharlal Nehru Port aids in efficient export shipments, while the Dahej Facility offers access to phenol from a major supplier and benefits from an established effluent discharge system. These strategic locations help reduce costs and streamline operations
Gem Aromatics Risks
Dependent on mint products business
A significant portion of the company's revenue comes from the mint and mint derivatives category, contributing 72.89% in FY24. A decrease in demand for these products could negatively impact revenue and profitability
Price fluctuations
Rising raw material costs could affect revenue, profitability and may have a significant negative impact on the business, operations, and financial condition
Import restrictions
The import of certain raw materials is regulated by laws like the Manufacture, Storage, and Import of Hazardous Chemicals Rules, 1989, which may result in the denial of import approvals for chemicals deemed hazardous, potentially impacting operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 276.2 crore, of 8,500,000 shares. It also consists of a fresh issue of Rs 175.0 crore.
The promoters of the company are Vipul Parekh, Kaksha Vipul Parekh, Yash Vipul Parekh and Parekh Family Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 309.0 - 325.0.
The IPO application opens on Aug 19, 2025 and closes on Aug 21, 2025.
The minimum lot size for the IPO is 46. The maximum lot size for the IPO is 598.
For all category investors, the minimum application amount for this IPO is Rs. 14,214.0, the maximum value for this IPO is Rs 194,350.0.
This IPO will be allotted on Aug 22, 2025.
The refund will be credited to your account on Aug 25, 2025.
The allotted shares will be credited to your demat on Aug 25, 2025.
Gem Aromatics Ltd.’s shares listed on the stock exchanges on Aug 26, 2025.