GEM Aromatics Ltd has fixed its IPO price band at ₹309–₹325 per share, with subscriptions opening on August 19, 2025. The issue combines a fresh equity sale worth ₹175 crore and an offer for sale (OFS) of 8.5 million shares, aiming for a market valuation of about ₹1,700 crore.
GEM Aromatics Ltd, headquartered in India, is a leading manufacturer of specialty ingredients for sectors such as personal care, pharmaceuticals, and wellness. With more than two decades of operational expertise, the company produces a wide range of essential oils, aroma chemicals, and value-added derivatives, catering to diverse domestic and global markets.
The company has set the price band for its upcoming Initial Public Offering (IPO) at ₹309–₹325 per share. The public issue will open for subscription on August 19, 2025, following an anchor investor bidding round on August 18, and will close on August 21, 2025.
The IPO will comprise a fresh issue of equity shares worth ₹175 crore and an Offer for Sale (OFS) of up to 8.5 million shares by existing promoters and shareholders. At the upper price band, the OFS is valued at approximately ₹276 crore, taking the total issue size to about ₹451 crore. This places the company’s estimated market capitalization at roughly ₹1,700 crore.
The proceeds from the fresh issue will primarily be used to repay debt at its wholly owned subsidiary, Krystal Ingredients. As of June 2025, GEM Aromatics’ total debt stood at ₹260 crore.
The company’s diversified portfolio spans four major categories: mint and mint derivatives; clove and clove derivatives; phenol; and other synthetic and natural specialty ingredients. Its 70+ products serve industries including oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
In FY25, GEM Aromatics reported revenue of ₹503.95 crore, an increase from ₹452.45 crore in FY24. Net profit rose to ₹53.38 crore, compared to ₹50.10 crore in the previous year, demonstrating consistent financial growth and operational stability. With a strong market presence, a diverse product portfolio, and plans to strengthen its balance sheet through debt reduction, GEM Aromatics’ IPO marks a key milestone in its expansion journey. Investors will be watching the August 19–21 subscription window closely as the company positions itself for sustained growth in the specialty ingredients sector.
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