Gem Aromatics IPO Allotment: The Rs 451-crore initial public offering (IPO) of Gem Aromatics Ltd concluded on a strong note, with the issue subscribed 30.45 times during its three-day bidding window that ended on August 21. The share allotment is expected to be finalised today, August 22, while the tentative listing date is August 26 on both the BSE and NSE.
According to exchange data, the issue saw bids for 29.59 crore shares against a total offer size of 97.19 lakh shares. The Qualified Institutional Buyers (QIB) category drew the strongest interest, with a subscription of 53 times. The Non-Institutional Investor (NII) segment was subscribed 45 times, while the retail investor quota was booked 10.49 times.
The IPO was priced in a band of Rs 309–Rs 325 per share.
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Use of funds
Gem Aromatics plans to utilise approximately Rs 140 crore from the net proceeds to repay or prepay certain borrowings of the company and its wholly-owned subsidiary Krystal Ingredients Private Limited. The remaining funds will go towards general corporate purposes. As of June 2025, the total borrowings stood at Rs 259.8 crore.
Company profile
Founded over two decades ago, Gem Aromatics is a leading domestic manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives. Its products are used across multiple industries such as oral care, personal care, cosmetics, pharmaceuticals, nutraceuticals, pain management, and wellness.
With three manufacturing facilities, the company offers more than 70 products under four key categories:
Mint and mint derivatives
Clove and clove derivatives
Phenol
Other synthetic and natural ingredients
During FY2025, Gem Aromatics was among the largest Indian processors of DMO, clove oil, eugenol, and eucalyptus oil, by volume. It also held a 65 per cent market share in eugenol and 12 per cent in DMO.
Checking allotment status
IPO applicants can check the Gem Aromatics IPO allotment status through:
Kfin Technologies (Registrar):
Visit: https://ipostatus.kfintech.com
Select ‘Gem Aromatics’ from the dropdown
Enter PAN, application number, or demat account ID
Click ‘Submit’ to view allotment status
NSE Portal:
Go to: https://www.nseindia.com
Select IPO name, enter PAN or application number
Submit to see the status
BSE Website:
Visit: https://www.bseindia.com
Navigate to ‘Status of Issue Application’
Choose Equity under ‘Issue Type’
Enter required details including PAN and IPO name
Click ‘Search’
Motilal Oswal Investment Advisors was the sole book-running lead manager to the issue.
