Gem Aromatics IPO: Specialty chemicals maker to list tomorrow
Gem Aromatics, a specialty chemicals maker, is getting listed on BSE and NSE tomorrow after raising ₹451.25 crore through its IPO—oversubscribed by more than 30 times between August 19 and 21, 2025.
The offer included both new shares and an offer-for-sale.
Gem Aromatics's business in numbers
Gem Aromatics produces essential oils and aroma chemicals used in everything from toothpaste to wellness products.
With 70 products across four categories, they served over 225 Indian clients and 44 international ones in FY25, spanning 18 countries.
For FY25, revenue hit ₹504 crore with a net profit of ₹53.4 crore.
Key details of the IPO
IPO shares were priced at ₹309-325 each and saw huge demand from all investor types—QIBs subscribed over 55 times!
Funds will help pay off ₹140 crore in debt and support general business needs.
Shares were trading at an 8-9% premium in the gray market ahead of listing, but investors should note risks like client concentration and raw material price swings.