Mumbai, August 13, 2025 – GEM Aromatics Ltd has fixed a price band of ₹309–₹325 per share for its upcoming Initial Public Offering. The subscription window will open on August 19 and close on August 21, with anchor bidding scheduled for August 18.
Market Performance
The IPO will include both a fresh issue and an Offer for Sale (OFS).
- Fresh issue size: ₹175 crore
- OFS: Up to 8.5 million shares by existing promoters and shareholders
- OFS value at upper price band: ₹276 crore
- Estimated market capitalisation: ~₹1,700 crore
Main News
Funds from the fresh issue will mainly be used to repay debt of its subsidiary, Krystal Ingredients.
- Total debt (as of June 2025): ₹260 crore
GEM Aromatics has been in operation for over 20 years, establishing itself as a leading Indian manufacturer of specialty ingredients such as essential oils, aroma chemicals, and value-added derivatives.
Company Details
The company offers 70 products in four main categories:
- Mint and mint derivatives
- Clove and clove derivatives
- Phenol
- Other synthetic and natural ingredients
Its products cater to industries including oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
Financial Performance
FY25 Performance vs FY24:
- Revenue: ₹503.95 crore (+ from ₹452.45 crore)
- Net Profit: ₹53.38 crore (+ from ₹50.10 crore)
Summary
GEM Aromatics’ IPO, priced between ₹309 and ₹325 per share, is set to open on August 19. The company aims to utilise the proceeds mainly for debt repayment, while maintaining strong growth in revenue and profitability. Backed by a broad product portfolio and a proven track record, GEM Aromatics remains a notable player in India’s specialty ingredients market.
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