Gem Aromatics IPO Price: ₹309 to ₹325 per share
IPO Dates: 19th August 2025 – 21st August 2025
Company Overview
Incorporated in October 1997, Gem Aromatics Limited is a reputed manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of expertise in the industry. The company’s portfolio ranges from Mother Ingredients to Value-Added Derivatives, catering to diverse end-use industries.
Its products are widely used across multiple sectors, such as oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
Product Portfolio
Gem Aromatics Limited offers 70 products, categorized into four key groups:
- Other synthetic and natural ingredients
- Mint and its derivatives
- Clove and its derivatives
- Phenol
Market Presence
In Fiscal 2025, the company served 225 customers, including 44 international clients across 18 countries, covering the Americas, Asia, Africa, and Australia.
Sales are conducted directly on a B2B basis, with exports facilitated through:
- Direct international sales
- Its U.S.-based subsidiary, Gem Aromatics LLC
- Third-party agencies
Research & Development
As of March 31, 2025, Gem Aromatics had an in-house R&D team of 13 scientists. The team plays a key role in developing advanced formulations in value-added derivatives using state-of-the-art technology.
Competitive Strengths
- Recognised manufacturer of specialty ingredients in India with a strong global footprint.
- Wide product range with a focus on continuous innovation and R&D capabilities.
- Long-standing relationships with reputed domestic and international customers.
- Strategically located manufacturing facilities with sustainability-driven operations.
- Experienced promoters and a capable management team.
Bidding Starts In
Gem Aromatics IPO Specifics:
| IPO Date | August 19, 2025 to August 21, 2025 |
| Face Value | ₹2 per share |
| Price Band | ₹309 to ₹325 per share |
| Lot Size | 46 Shares |
| Total Issue Size | 1,38,84,615 shares (aggregating up to ₹451.25 Cr) |
| Fresh Issue | 53,84,615 shares (aggregating up to ₹175.00 Cr) |
| Offer For Sale | 85,00,000 shares (aggregating up to ₹276.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,68,52,523 shares |
| Share Holding Post Issue | 5,22,37,138 shares |
Gem Aromatics IPO Timetable (Important Dates)
| IPO Open Date | Tuesday, August 19 2025 |
| IPO Close Date | Thursday, August 21 2025 |
| Basis of Allotment | Friday, August 22 2025 |
| Initiation of Refunds | Monday, August 25 2025 |
| Credit of Shares to Demat | Monday, August 25 2025 |
| Listing Date | Tuesday, August 26 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
Gem Aromatics IPO Lot Size
Bidders have the opportunity to bid for a minimum of 46 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,950 |
| Retail (Max) | 13 | 598 | ₹1,94,350 |
| S-HNI (Min) | 14 | 644 | ₹2,09,300 |
| S-HNI (Max) | 68 | 3,036 | ₹9,86,700 |
| B-HNI (Min) | 69 | 3,082 | ₹10,01,650 |
Gem Aromatics IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Gem Aromatics Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 295.76 | 368.57 | 534.52 |
| Revenue | 425.09 | 454.23 | 505.64 |
| Profit After Tax | 44.67 | 50.10 | 53.38 |
| EBITDA | 66.19 | 78.35 | 88.45 |
| Net Worth | 179.53 | 230.55 | 283.98 |
| Reserves & Surplus | 182.36 | 224.88 | 278.26 |
| Total Borrowing | 89.36 | 111.13 | 222.37 |
Key Performance Indicator – Gem Aromatics IPO
| KPI | Values |
|---|---|
| Market Cap | ₹1,697.71 Cr |
| EPS | ₹11.39 |
| P/E (x) | 28.52 |
| ROE | 18.80% |
| ROCE | 16.02% |
| PAT Margin | 10.56% |
| RoNW | 18.80% |
| Debt/Equity | 0.78 |
Objects of the Issue:
Gem Aromatics Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Repayment/Prepayment of Borrowings:
An amount of ₹140.00 crore will be used towards the prepayment and/or repayment, in full or in part, of certain outstanding borrowings availed by the company and its subsidiary, Krystal Ingredients Private Limited. This will help in reducing debt and strengthening the financial position. - General Corporate Purposes:
The remaining funds will be allocated for general corporate activities, which may include administrative expenses, business development, and other strategic initiatives to support growth.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
