Gem Aromatics IPO
Open MainLineCurrent GMP
₹33 (+10.15%)
Price Band
₹ 309 – 325
Lot Size
46
Issue Size
₹451.25 Cr
Minimum Investment
₹14950 (46 Shares)
Listing Date
26 August 2025
Subscription
30.27x
About the Company
Founded in October 1997, Gem Aromatics Limited is a prominent Indian manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives. With over two decades of industry experience, the company offers a diverse product range that spans from core mother ingredients to advanced value-added formulations.
Gem Aromatics’ products serve a wide array of industries, including:
- Oral care
- Cosmetics
- Nutraceuticals
- Pharmaceuticals
- Personal care
- Pain management
- Wellness
Product Portfolio
The company offers 70 products, classified into four major categories:
- Mint and its derivatives
- Clove and its derivatives
- Phenols
- Other synthetic and natural ingredients
Market Presence and Customer Base
As of Fiscal Year 2025, Gem Aromatics serves:
- 225 customers overall
- 44 international clients across 18 countries, including regions in the Americas, Asia, Africa, and Australia
The company operates on a B2B model, with exports handled through:
- Direct sales
- Gem Aromatics LLC (subsidiary in the USA)
- Third-party agencies
Notable clients include Colgate-Palmolive, Dabur, and dōTERRA. In 2019, dōTERRA made a strategic investment in the company, and Gem now supplies 15 products under a global agreement.
Research & Development
Gem Aromatics maintains a robust in-house R&D team of 13 scientists based in Maharashtra. The team employs advanced technologies, including Grignard reactions and Friedel–Crafts chemistry, to drive innovation in its value-added derivatives and support continuous product development.
Market Leadership
The company holds strong market positions in several product categories. As of FY 2025:
- India’s largest processor (by volume) of DMO, Clove Oil, Eugenol, and Eucalyptus Oil
- 65% market share in Eugenol
- 12% market share in DMO
Gem Aromatics has also been recognized as a “Three Star Export House”, highlighting its significant contribution to India’s exports in this sector.
Competitive Strengths
- Established reputation in the specialty ingredients industry
- Comprehensive and evolving product portfolio
- Long-term relationships with leading domestic and international customers
- Strategically located, sustainable manufacturing facilities
- Experienced promoters and leadership team
With its blend of scientific innovation, strong customer relationships, and export capabilities, Gem Aromatics Limited continues to be a key player in India’s essential oil and value-added ingredients industry—especially in the mint, clove, and eucalyptus segments.
Promoters
- Vipul Parekh
- Kaksha Vipul Parekh
- Yash Vipul Parekh
- Parekh Family Trust
Promoters Holding
Holding Pre Issue
75.00%
Holding Post Issue
55.06%
Objects of the Issue
The Company Gem Aromatics IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- 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
- General Corporate Purposes
Address / Contact Info
Gem Aromatics Limited
A/410, Kailas Complex,
Vikhroli Powai Link
Road, Park Site,
Vikhroli (W) Mumbai,
Maharashtra, 400079
Phone: +91 22 25185231
Email: secretarial@gemaromatics.in
Website: http://www.gemaromatics.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 19 August 2025
IPO Close Date
Thursday, 21 August 2025
Basis of Allotment
Friday, 22 August 2025
Initiation of Refunds
Monday, 25 August 2025
Credit of Shares to Demat
Monday, 25 August 2025
Listing Date
Tuesday, 26 August 2025 — NSE & BSE
Important Dates
Open Date
19 August 2025
Close Date
21 August 2025
Basis Of Allotment
22 August 2025
Listing Date
26 August 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 534.52 | 368.57 | 295.76 |
| Revenue | 505.64 | 454.23 | 425.09 |
| Profit After Tax | 53.38 | 50.1 | 44.67 |
| Net Worth | 283.98 | 230.55 | 179.53 |
| Reserve & Surplus | 278.26 | 224.88 | 182.36 |
| Total Borrowings | 222.37 | 111.13 | 89.36 |
EPS Pre
11.39%
EPS Post
10.22%
P/E Pre
28.52
P/E (Post Issue)
31.80x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 18.8 | 21.73 | 24.88 |
| ROCE % | 16.02 | 21.1 | 22.85 |
| Debt / Equity | 0.78 | 0.36 | 0.44 |
| RoNW % | 18.8 | 21.73 | 24.88 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 10.56 | 11.03 | 10.51 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 2700647 | 27.61 | 0 |
| Non-Institutional | 2124515 | 21.72 | 0 |
| BNII | 1416344 | 14.48 | 0 |
| SNII | 708171 | 7.24 | 0 |
| Retail Investors | 4957201 | 50.67 | 0 |
| Total | 9782363 | 100 | 0 |
Subscription Status ( Thu, 21 Aug 25 01:51 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 2700647 | 149290470 | 55.28x |
| Non-Institutional | 2124515 | 95730186 | 45.06x |
| BNII | 1416344 | 67312950 | 47.53x |
| SNII | 708171 | 28417236 | 40.13x |
| Retail Investors | 4957201 | 51094546 | 10.31x |
| Total | 9782363 | 296115202 | 30.27x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Gem Aromatics Ltd | 2 | 0.00 | 11.39 | 11.39 | 18.80 | 60.61 |
| Clean Science and Technology Ltd | 1 | 57.33 | 24.88 | 24.88 | 18.67 | 133.29 |
| Privi Speciality Chemicals Ltd | 10 | 50.51 | 47.87 | 47.87 | 16.95 | 282.47 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 46 | 14,950.00 |
| Retail (Max) | 13 | 598 | 194,350.00 |
| S-HNI (Min) | 14 | 644 | 209,300.00 |
| S-HNI (Max) | 66 | 3,036 | 986,700.00 |
| B-HNI (Min) | 67 | 3,082 | 1,001,650.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Motilal Oswal Investment Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Gem Aromatics IPO is a Book-building IPO worth ₹451.25 crores. The price band is ₹309 to 325 per share. The IPO opens on Tue, Aug 19, 2025 and closes on Thu, Aug 21, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Gem Aromatics IPO opens on Tue, Aug 19, 2025 and closes on Thu, Aug 21, 2025
Gem Aromatics IPO Price Band is ₹309 to 325.
Gem Aromatics IPO lot size is 46, and the minimum amount required for application is ₹14950.
The minimum investment for Gem Aromatics IPO is approximately ₹14950 based on the upper price band.
To apply for the Gem Aromatics IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Aug 21, 2025. After submission, funds are blocked until the basis of allotment of Gem Aromatics IPO is finalised.
Gem Aromatics IPO issue size is ₹451.25 crores.
Gem Aromatics IPO allotment date is Sat, Jun 27, 2026.
The registrar for Gem Aromatics IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Gem Aromatics IPO through their official website or helpline.
The Gem Aromatics IPO GMP (Grey Market Premium) is ₹33 as of Tue, Aug 26, 2025. Based on the upper price band of ₹325 per share, the estimated Gem Aromatics IPO listing price is ₹358, indicating a potential listing gain of approximately 31% over the issue price.