Gem Aromatics Subscription
Last updated on 21-Aug-2025 18:03:15
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 2776925 | 149290470 | 53.76 |
| HNIs | 2082692 | 95730186 | 45.96 |
| HNIs 10+ | 1388462 | 67312950 | 48.48 |
| HNIs 2+ | 694231 | 28417236 | 40.93 |
| Retail | 4859615 | 51094546 | 10.51 |
| Total | 9719232 | 296115202 | 30.47 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 2156 | 21566 | 10 |
| HNIs (2-10L) | 1078 | 43489 | 40.34 |
| Retail | 105644 | 994130 | 9.41 |
| Total Applications: 1059185 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 90.25 | 4851.94 | 53.76 |
| FIIs | - | 1089.44 | - |
| DIIs | - | 2271.79 | - |
| Mutual funds | - | 50.44 | - |
| Others | - | 1440.27 | - |
| HNIs | 67.69 | 3111.23 | 45.96 |
| HNIs 10+ | 45.13 | 2187.67 | 48.48 |
| HNIs 2+ | 22.56 | 923.56 | 40.93 |
| Retail | 157.94 | 1660.57 | 10.51 |
| Total | 315.88 | 9623.74 | 30.47 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹23.5 | @8% ₹26.8 | @9% ₹30.2 | @10% ₹33.5 | @11% ₹36.9 | @12% ₹40.2 |
Gem Aromatics About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 46 | 14950 | 105644 |
| sHNI | 14 | 644 | 209300 | 1078 |
| bHNI | 67 | 3082 | 1001650 | 2156 |
IPO Details
| Total Issue Size | 1,38,84,615 shares (aggregating up to ₹451.25 Cr) |
| Fresh Issue | 53,84,615 shares (aggregating up to ₹175.00 Cr) |
| Offer for Sale | 85,00,000 shares (aggregating up to ₹276.25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,68,52,523 shares |
| Share Holding Post Issue | 5,22,37,138 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII Shares Offered | Not less than 15.00% of the Net Issue |
Key Performance Indicator (KPI)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 18.80% | 21.73% | 24.88% |
| ROCE | 16.02% | 21.10% | 22.85% |
| RONW | 18.80% | 21.73% | 24.88% |
| D/E | 0.78 | 0.36 | 0.44 |
| EPS (basic) | 11.39 | 10.69 | 9.53 |
| P/E Pre IPO | 28.52 | ||
| P/E Post IPO | 31.8 |
Financial Details (In ₹ Crores)
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 534.5 | 368.6 | 295.8 |
| Total Income | 505.6 | 454.2 | 425.1 |
| Profit After Tax | 53.4 | 50.1 | 44.7 |
| EBITDA | 88.5 | 78.4 | 66.2 |
| Net Worth | 284.0 | 230.6 | 179.5 |
| Reserves and Surplus | 278.3 | 224.9 | 182.4 |
| Total Borrowing | 222.4 | 111.1 | 89.4 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP* (₹) | Face value (₹) |
|---|---|---|---|
| Gem Aromatics | - | - | 2 |
| Clean Science and Technology | 57.33 | 1,426.25 | 1 |
| Privi Speciality Chemicals | 50.51 | 2,417.75 | 10 |
| Camlin Fine Sciences | - | 294.65 | 1 |
| Yasho Industries | 374.92 | 1,994.55 | 10 |
| S H Kelkar and Co | 42.33 | 228.6 | 10 |
| Oriental Aromatics | 36.97 | 377.05 | 5 |
Peer Comparison (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Gem Aromatics | 60.61 | 18.8 | 11.39 |
| Clean Science and Technology | 133.29 | 18.67 | 24.88 |
| Privi Speciality Chemicals | 282.47 | 16.95 | 47.87 |
| Camlin Fine Sciences | 46.23 | -16.01 | -8.03 |
| Yasho Industries | 348.09 | 1.46 | 5.32 |
| S H Kelkar and Co | 90.66 | 5.83 | 5.4 |
| Oriental Aromatics | 196.2 | 0.05 | 10.2 |
Company Overview
Incorporation: October 1997
Business: Manufactures specialty ingredients including essential oils, aroma chemicals, and value-added derivatives.
Product Categories (70 total):
Mint & derivatives
Clove & derivatives
Phenol
Other synthetic & natural ingredients
Applications: Oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, personal care
Market Presence (FY25):
225 customers in total
44 international customers across 18 countries (Americas, Asia, Africa, Australia)
Sales Model: Direct B2B sales; exports via direct sales, US subsidiary (Gem Aromatics LLC), and third-party agencies
R&D: 13 scientists, in-house; developed advanced formulations in value-added derivatives
Strength
Strong Industry Reputation – Over two decades as a leading Indian specialty ingredients manufacturer.
Innovative & Diverse Portfolio – 70 products across multiple categories, backed by active R&D.
Loyal Client Base – Long-term domestic and international customer relationships across 18 countries.
Weakness
Raw Material Dependency: Fluctuations in mint/clove supply could impact production.
Regulatory Compliance: Strict international standards for essential oils and derivatives.
Competition: Competing with global players in the essential oils and aroma chemicals space.
Gem Aromatics Lead Manager(s)
Gem Aromatics Address
A/410, Kailas Complex, Vikhroli Powai Link
Road, Park Site,
Vikhroli (W)
Mumbai, Maharashtra, 400079
Phone: +91 22 25185231
Email: secretarial@gemaromatics.in
Website: http://www.gemaromatics.com/