Gem Aromatics IPO
Bookbuilding IPO | ₹451.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Aug 19, 2025
IPO Close
Thu, Aug 21, 2025
Price Band
₹309.00 to ₹325.00
Market Cap (Pre-IPO)
₹1,697.71 Cr
IPO Details
| IPO Date | Aug 19, 2025 to Aug 21, 2025 |
| Listing Date | Tentative: Aug 26, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹309.00 to ₹325.00 |
| Lot Size | 46 Shares (Minimum: ₹14,950.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹451.00 Crores |
| Total Shares Offered | 13,884,615 shares |
| Fresh Issue | 5,384,615 shares |
| Offer For Sale | 8,500,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 53.76x |
| NII | 45.96x |
| RII | 10.49x |
| Total | 30.45x |
Gem Aromatics IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 69,42,306 (50.00%) |
| Retail Shares Offered | 48,59,616 (35.00%) |
| NII Shares Offered | 20,82,693 (15.00%) |
Gem Aromatics IPO Lot Size
Investors can bid for a minimum of 46 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,950 |
| Retail (Max) | 13 | 598 | ₹194,350 |
| S-HNI (Min) | 14 | 644 | ₹209,300 |
| S-HNI (Max) | 66 | 3,036 | ₹986,700 |
| B-HNI (Min) | 67 | 3,082 | ₹1,001,650 |
Gem Aromatics Financial Information (Restated Consolidated)
Gem Aromatics Ltd.'s revenue increased by 11% and profit after tax (PAT) rose by 7% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 534.52 | 368.57 | 295.76 |
| Total Income | 505.64 | 454.23 | 425.09 |
| Profit After Tax | 53.38 | 50.10 | 44.67 |
| EBITDA | 88.45 | 78.35 | 66.19 |
| NET Worth | 283.98 | 230.55 | 179.53 |
| Reserves and Surplus | 278.26 | 224.88 | 182.36 |
| Total Borrowing | 222.37 | 111.13 | 89.36 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 18.80% |
| ROCE (Return on Capital Employed) | 16.02% |
| Debt/Equity | 0.78 |
| RoNW (Return on Net Worth) | 18.80% |
| PAT Margin (Profit After Tax Margin) | 10.56% |
| EBITDA Margin | 17.55% |
| Price to Book Value | 5.36 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.39 | 10.22 |
| P/E (x) | 28.52 | 31.80 |
| Promoter Holding | 75.00% | 55.06% |
Company Promoters
- The promoters of the company are Vipul Parekh
- Kaksha Vipul Parekh
- Yash Vipul Parekh
- and Parekh Family Trust.
Company Overview
Incorporated in October 1997, Gem Aromatics Limited manufactures speciality ingredients, including essential oils, aroma chemicals, and Value-Added Derivatives in India, with over two decades of experience. The company offers various products, from Mother Ingredients to Value-Added Derivatives.
The company's products are used in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
The company provides a total of seventy products, categorized into four distinct groups, which include:
- Mint and its derivatives;;
- Clove and its derivatives;
- Phenol; and
- Other synthetic and natural ingredients.
In Fiscal 2025, the company serves 225 customers and 44 international customers across 18 countries, including the Americas, Asia, Africa, and Australia.
The company sells products directly to customers on a business-to-business basis, with export sales through methods including (i) direct sales, (ii) sales via its subsidiary, Gem Aromatics LLC, in the USA, and (iii) sales through third-party agencies.
As of Mar 31, 2025, the company had an in-house R&D team of 13 scientists who pivotally implemented state-of-the-art technology that advanced our formulations in Value-Added Derivatives.
Company Strengths
- A reputable manufacturer of specialty ingredients in India, encompassing essential oils, aroma chemicals, and value-added derivatives.
- Wide product range with continuous product development and R&D capabilities.
- Long-standing relationship with well-established customers in India and globally
- Strategically located Manufacturing Facilities with a focus on sustainability
- Experienced Promoters and management team.
Use of Proceeds
| 1) | Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary, Krystal Ingredients Private Limited; and | 140.00 |
| 2) | General Corporate Purposes | 22.86 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Gem Aromatics IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Gem Aromatics | 11.39 | 11.39 | 60.61 | 0.00 | 18.80 | 0.00 | - |
| Clean Science and Technology | 24.88 | 24.88 | 133.29 | 57.33 | 18.67 | 0.00 | - |
| Privi Speciality Chemicals | 47.87 | 47.87 | 282.47 | 50.51 | 16.95 | 0.00 | - |
| Camlin Fine Sciences | -8.03 | -7.95 | 46.23 | 0.00 | -16.01 | 0.00 | Consolidated |
| Yasho Industries | 5.32 | 5.32 | 348.09 | 374.92 | 1.46 | 0.00 | Consolidated |
| S H Kelkar and Company | 5.40 | 5.40 | 90.66 | 42.33 | 5.83 | 0.00 | Consolidated |
| Oriental Aromatics | 10.20 | 10.20 | 196.20 | 36.97 | 5.20 | 0.00 | Consolidated |
Quick Info
| Sector | Chemicals |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,697.71 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Aug 19, 2025 |
| IPO Close | Aug 21, 2025 |
| Allotment Date | Aug 22, 2025 |
| Credit to Demat | Aug 25, 2025 |
| Listing Date | Tentative: Aug 26, 2025 |
Lead Manager(s)
Motilal Oswal Investment Advisors Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- Gem Aromatics IPO is a book build issue of ₹451.25 crores. The issue is a combination of fresh issue of 0.54 crore shares aggregating to ₹175.00 crores and offer for sale of 0.85 crore shares aggregating to ₹276.25 crores.
- Gem Aromatics IPO bidding started from Aug 19, 2025 and ended on Aug 21, 2025. The allotment for Gem Aromatics IPO was finalized on Aug 22, 2025. The shares got listed on BSE, NSE on Aug 26, 2025.
- Gem Aromatics IPO price band is set at ₹325.00 per share . The lot size for an application is 46. The minimum amount of investment required by an retail is ₹14,950 (46 shares) (based on upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,09,300, and for bNII, it is 67 lots (3,082 shares), amounting to ₹10,01,650.