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Gem Aromatics, a manufacturer of speciality ingredients, on Monday mobilised over ₹135 crore from anchor investors, ahead of its initial public offering (IPO) opening for subscription.
Some of the institutions that participated in the anchor round includes Citigroup Global, Societe Generale, Goldman Sachs, Nippon India Mutual Fund, SageOne, Nuvama, and Niveshaay Sambhav Fund, according to a circular uploaded on BSE's website.
As per the circular, the company has allocated 41,65,383 equity shares at ₹325 per piece to anchor investors, aggregating the transaction size to ₹135.37 crore.
The ₹451-crore IPO would open for subscription on August 19 and conclude on August 21. The price band has been set at ₹309 to ₹325 per share.
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.
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Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes.
Gem Aromatics is a manufacturer of specialty 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.
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