Gem Aromatics Limited is a manufacturer of speciality ingredients, including essential oils, aroma chemicals, and value-added derivatives, with a track record of over two decades in the Indian fragrance and flavour industry. The Company’s product portfolio ranges from Mother Ingredients to Value-Added Derivatives, catering to diverse applications.
Its products are utilized in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care segments. As of March 31, 2025, the Company offered 70 products, classified into four categories:
- Mint and its derivatives
- Clove and its derivatives
- Phenol
- Other synthetic and natural ingredients
In Fiscal 2025, the Company served 225 customers, including 44 international customers across 18 countries spanning the Americas, Asia, Africa, and Australia. Sales are executed on a business-to-business (B2B) basis, with exports conducted through (i) direct sales, (ii) its U.S. subsidiary, Gem Aromatics LLC, and (iii) third-party agencies.
The Company’s in-house R&D team of 13 scientists focuses on developing innovative formulations in Value-Added Derivatives, leveraging state-of-the-art technology to meet evolving customer needs.
Gem Aromatics IPO – Details
| IPO Opening Date | 19 August 2025 |
| IPO Closing Date | 21 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,38,84,615 Shares Worth ₹451.25 Crore Fresh Issue: 53,84,615 Shares Worth ₹175.00 Crore Offer For Sale: 85,00,000 Shares Worth ₹276.25 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹309 – ₹325 per share |
| Market Lot | 46 Shares |
| Min Order | 46 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Gem Aromatics IPO – Date Schedule
| IPO Open Date | 19 August 2025 |
| IPO Close Date | 21 August 2025 |
| Basis of Allotment | 22 August 2025 |
| Initiation of Refund | 25 August 2025 |
| Credit of Shares to Demat Account | 25 August 2025 |
| IPO Listing Date | 26 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
Gem Aromatics IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,950 |
| Retail (Max) | 13 | 598 | ₹1,94,350 |
| S-HNI (Min) | 14 | 644 | ₹2,09,300 |
| S-HNI (Max) | 66 | 3,036 | ₹9,86,700 |
| B-HNI (Min) | 67 | 3,082 | ₹10,01,650 |
Competitive Strength
- A reputable manufacturer of specialty ingredients in India, encompassing essential oils, aroma chemicals, and value-added derivatives.
- Wide product range with continuous product development and R&D capabilities.
- Long-standing relationship with well-established customers in India and globally
- Strategically located Manufacturing Facilities with a focus on sustainability
- Experienced Promoters and management team.
Company Promoters
- Vipul Parekh
- Kaksha Vipul Parekh
- Yash Vipul Parekh
- Parekh Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹425.09 Cr | ₹369.00 Cr | ₹44.67 Cr | ₹89.36 Cr |
| 31 March 2024 | ₹454.23 Cr | ₹386.63 Cr | ₹50.10 Cr | ₹111.13 Cr |
| 31 March 2025 | ₹505.64 Cr | ₹430.93 Cr | ₹53.38 Cr | ₹222.37 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.80% |
| ROCE | 16.02% |
| Debt/Equity | 0.78 |
| RoNW | 18.80% |
| PAT Margin | 10.56% |
| EBITDA Margin | 17.55% |
| Price to Book Value | 5.36 |
| Pre IPO | Post IPO | |
| EPS (₹) | 11.39 | 10.22 |
| P/E (x) | 28.52 | 31.80 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and its Subsidiary, Krystal Ingredients Private Limited; and | ₹140.00 |
| General corporate purposes. |
Gem Aromatics IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Clean Science and Technology Limited | 57.33 |
| 2 | 10 | Privi Speciality Chemicals Limited | 50.51 |
| 3 | 1 | Camlin Fine Sciences Limited | – |
| 4 | 10 | Yasho Industries Limited | 374.92 |
| 5 | 10 | S H Kelkar and Company Limited | 42.33 |
| 6 | 5 | Oriental Aromatics Limited | 36.97 |
✅Strengths
- 70-product portfolio across mint, clove, phenol & other ingredients.
- 20+ years’ industry experience & strong R&D team.
- Exports to 18 countries with 225+ customers.
⚠️Risks
- Revenue concentration in few product categories.
- Raw material & forex fluctuations.
- Regulatory compliance and high competition.
Gem Aromatics IPO Promoter Holding
| Pre Issue Share Holding | 75.00% |
| Post Issue Share Holding | 55.06% |
Gem Aromatics IPO Prospectus
Company Contact Information
| Gem Aromatics Ltd. 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/ |
Gem Aromatics IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: gem.ipo@motilaloswal.com Website: https://kosmic.kfintech.com/ipostatus/ |
Gem Aromatics IPO Lead Manager(s)
| 1. Motilal Oswal Investment Advisors Limited |
Gem Aromatics IPO FAQs
| What is Gem Aromatics IPO? Gem Aromatics IPO is a main-board IPO. The issue is priced at ₹309 to ₹325 per equity share. The IPO is to be listed on BSE & NSE. |
| When will Gem Aromatics IPO open? The IPO is to open on 19 August 2025 for QIB, NII, and Retail Investors. |
| What is Gem Aromatics IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Gem Aromatics IPO? You can apply Gem Aromatics IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Gem Aromatics IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Gem Aromatics IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Gem Aromatics IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Gem Aromatics IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Gem Aromatics IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Gem Aromatics IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Gem Aromatics IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Gem Aromatics IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Gem Aromatics IPO Size? Gem Aromatics IPO size is ₹451.25 Crore. |
| What is the Gem Aromatics IPO Price Band? Gem Aromatics IPO Price Band is ₹309 to ₹325. |
| What is the Gem Aromatics IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 46 Shares with ₹14,950 while the maximum bid is 598 Shares with ₹1,94,350. |
| What is the Gem Aromatics IPO Allotment Date? Gem Aromatics IPO allotment date is 22 August 2025. |
| What is the Gem Aromatics IPO Listing Date? Gem Aromatics IPO listing date is 26 August 2025. The IPO is to be listed on BSE and NSE. |
