Gem Aromatics Ltd. is set to finalize the share allotment for its highly anticipated ₹451.25 crore Initial Public Offering (IPO) on August 22 after witnessing overwhelming investor response. The IPO was oversubscribed 30.27 times, with bids pouring in for 29.61 crore shares against just 97.82 lakh shares on offer.
Category-Wise Subscription Details
- Retail Investors: Subscribed 10.31 times
- Non-Institutional Investors (NIIs): Subscribed 45 times
- Qualified Institutional Buyers (QIBs): Subscribed 55.28 times
IPO Structure and Fund Utilization
The IPO consisted of:
- Fresh Issue: 54 lakh shares, aggregating to ₹175 crore
- Offer for Sale (OFS): 85 lakh shares, worth ₹276.25 crore
The company plans to utilize the net proceeds for debt repayment and general corporate purposes.
Key Dates to Remember
- Share Allotment: August 22
- Refund Initiation & Share Transfers: August 25
- Listing on NSE & BSE: August 26
About Gem Aromatics
Gem Aromatics Ltd. specializes in manufacturing high-quality specialty ingredients, including essential oils and aroma chemicals. The company serves 225 domestic clients and 44 international customers across 18 countries. Its clientele includes some of the biggest names in the FMCG sector, such as Colgate-Palmolive, Dabur, and Patanjali.
