This is the last call for the Gem Aromatics IPO. The bidding process will close today, August 21. The company opened the IPO bidding on August 19. The book-built issue is expected to mop up Rs 451.25 crore from the primary markets. It is a combination of fresh issue of 0.54 crore shares aggregating to Rs 175 crore and an offer for sale of 0.85 crore shares of Rs 276.25 crore.
Gem Aromatics IPO: Price band, allotment, and listing
The Gem Aromatics IPO price band is between Rs 309 – 325 per equity share. The allotment for the IPO shares is likely to be finalised on August 22, while the listing of stocks on the bourses – NSE and BSE – is expected to be on August 26, as per the tentative schedule.
Gem Aromatics IPO: GMP
Gem Aromatics is fetching a premium of 9% to its issue price in the grey market. Just to remind our readers, the grey market is an unofficial platform where shares are bought and sold ahead of IPO listing illegally. The listing price can be vastly different from the rates here.
Gem Aromatics IPO: Subscription status
The IPO was subscribed to a total of 5.60 times so far. The retail participants showed a strong enthusiasm for the company, subscribing to the IPO 5.41 times. The NIIs booked the issue 11.46 times, while the QIBs category was subscribed to 1.53 times.
Gem Aromatics IPO: Lot size
A retail participant can apply for as few as one lot of 46 shares. The minimum amount of investment required by the retail application is Rs 14,214. The lot size investment for a small NII is 14 lots of 644 shares, amounting to Rs 2 lakh, and for a big NII, it is 67 lots of 3,082 shares, totalling to Rs 10 lakh.
Gem Aromatics IPO: Book manager and registrar
Motilal Oswal Investment Advisors is the book-running lead manager of the issue, and Kfin Technologies is working as the registrar for the IPO.
About Gem Aromatics
Gem Aromatics manufactures speciality ingredients, including essential oils, aroma chemicals, and value-added derivatives in India. The company’s products are used in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.
Gem Aromatics provides a total of seventy products, which are categorised into four distinct groups, including mint and its derivatives, clove and its derivatives, phenol, and other synthetic and natural ingredients.