Gem Aromatics sets price band at ₹309-325 per share for ₹451 cr IPO

Gem Aromatics, a manufacturer of speciality ingredients, on Wednesday set a price band of ₹309 to ₹325 per share for its upcoming initial public offering (IPO).

The ₹451-crore IPO would open for subscription on August 19 and conclude on August 21, the company announced.

The IPO is a mix of fresh issue of equity shares worth up to ₹175 crore and an offer for sale (OFS) of up to 85 lakh shares valued at ₹276.25 crore.

Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes.

Gem Aromatics is a manufacturer of speciality ingredients in India, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of experience. Its client portfolio includes names like Colgate-Palmolive, Dabur, Patanjali, SH Kelkar, Rossari Biotech, and Symrise, among others.

The company operates three advanced manufacturing facilities located in Uttar Pradesh, Dadra and Nagar Haveli, and Gujarat.

Gem Aromatics' revenue from operations increased by 11.38 per cent to ₹503.95 crore in fiscal 2025 from ₹452.45 crore in the previous fiscal, and profit rose 6.55 per cent to ₹53.38 crore for fiscal 2025 from ₹50.10 crore in the preceding financial year.

Motilal Oswal Investment Advisors is the sole book-running lead manager, and KFin Technologies is the registrar to the offer.