- Price band
- To be announcedNot in this filing
- Issue size
- To be announcedAmount set with price
- Face value
- ₹2per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesThu, 2025
- AllotmentFri, 2025
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- —
- Offer for sale
- 85,00,000 shares
- Total issue
- —
- Face value
- ₹2
- Listing at
- NSE, BSE
- RHP date
- 12 Aug 2025
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 35% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | 50% |
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹11.39
- EPS (diluted)
- ₹11.39
- NAV per share (As at March 31, 2025)
- ₹60.61
- RoNW
- 18.80%
- ROCE
- 16.02%
- Debt to equity
- 0.78
- EBITDA margin
- 17.55%
- PAT margin
- 10.56%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 503.95 | 452.45 | 424.79 |
| Total income | 505.64 | 454.23 | 425.09 |
| EBITDA | 88.45 | 78.35 | 66.19 |
| Profit after tax | 53.38 | 50.10 | 44.67 |
| Net worth | 283.98 | 230.55 | 179.53 |
| Reserves and surplus | 274.61 | 221.18 | 177.75 |
| Total assets | 534.52 | 368.57 | 295.76 |
| Total borrowing | 222.37 | 111.13 | 89.36 |
FY 2024-25 vs FY 2023-24: revenue +11.4%, profit after tax +6.5%.
Source: Red Herring Prospectus dated 12 Aug 2025Updated
About the company
The company manufactures specialty ingredients such as essential oils, aroma chemicals and value-added derivatives, mainly from mint and clove. Its products serve oral care, cosmetics, nutraceuticals, pharmaceuticals and personal care industries. It operates manufacturing facilities in Budaun, Silvassa and Dahej.
- Incorporated
- 1997
- Industry
- Specialty Chemicals
- CIN
- U24246MH1997PLC111057
- Website
- gemaromatics.com
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Vipul Parekh | Promoter | 26.58% | — | 32,34,727 |
| Parekh Family Trust | Promoter | 22.62% | — | — |
| Yash Vipul Parekh | Promoter | 13.07% | — | 15,91,400 |
| Kaksha Vipul Parekh | Promoter | 12.73% | — | 15,48,873 |
| dōTERRA Enterprises, Sàrl | Selling shareholder | 25.00% | — | 21,25,000 |
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Prepayment or repayment of certain borrowings of the company and its subsidiary Krystal Ingredients Private Limited | 140.00 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Clean Science and Technology Limited | ₹24.88 | 57.33× | 18.67% | ₹133.29 |
| Privi Speciality Chemicals Limited | ₹47.87 | 50.51× | 16.95% | ₹282.47 |
| Camlin Fine Sciences Limited | -₹8.03 | — | -16.01% | ₹46.23 |
| Yasho Industries Limited | ₹5.32 | 374.92× | 1.46% | ₹348.09 |
| S H Kelkar and Company Limited | ₹5.4 | 42.33× | 5.83% | ₹90.66 |
| Oriental Aromatics Limited | ₹10.2 | 36.97× | 5.20% | ₹196.2 |
| Gem Aromatics LimitedIssuer | ₹11.39 | — | 18.80% | ₹60.61 |
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Over two decades of experience manufacturing essential oils and aroma chemicals.
- Wide product range of around 70 products across four categories.
- Long-standing relationships with large domestic and global customers.
- Manufacturing sites located near raw material sources and export ports.
- Experienced promoters and in-house R&D team.
Risks
- Around 56% of FY 2025 revenue came from top 10 customers.
- Largest customer dōTERRA's supply agreement expires on December 31, 2028.
- Mint and mint derivatives contribute a large majority of revenue.
- Ongoing Supreme Court litigation over the land of the Budaun facility.
- Net proceeds use has not been appraised by any bank or agency.
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Contacts
Source: Red Herring Prospectus dated 12 Aug 2025Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 12 Aug 2025Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the Gem Aromatics IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 19 August 2025 and closes on Thursday, 21 August 2025. These dates are tentative.
What is the Gem Aromatics IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Gem Aromatics shares list?
On NSE and BSE. The tentative listing date is Tuesday, 26 August 2025.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Gem Aromatics IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 22 August 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹140 Cr for prepayment or repayment of certain borrowings of the company and its subsidiary Krystal Ingredients Private Limited, and the rest for the other stated purposes.
Related IPOs
Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.