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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.
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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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