Mumbai-based essential oils maker Gem Aromatics has raised ₹135.37 crore from anchor investors ahead of its IPO opening on 19 August 2025. The company allotted 41.65 lakh shares at ₹325 apiece, according to a BSE filing.
Top investors in the anchor round include Citigroup Global, Societe Generale, Goldman Sachs, Nippon India, SageOne, Nuvama, and Niveshaay Sambhav Fund. Among them, Nippon India (22.16%), SageOne (11.08%), and Nuvama (7.39%) secured the highest allocations. Notably, no shares were allotted to mutual funds.
As of 18 August, the grey market premium (GMP) stood at ₹28 per share, implying a potential listing price of ₹353, about 8.6% above the IPO’s upper price band. The GMP, however, slipped from ₹35 on Sunday to ₹28 on Monday.
The IPO comprises a fresh issue of shares worth ₹175 crore and an offer for sale (OFS) of 85 lakh shares by promoters and investors. The issue will close on 21 August 2025 with a price band of ₹309–₹325 per share and a lot size of 46 shares.
Proceeds will be used to repay loans up to ₹140 crore and for general corporate purposes. Motilal Oswal Investment Advisors is the book-running lead manager, while Kfin Technologies is the registrar.
Disclaimer: This news is for informational purposes only and not investment advice. Please consult a certified financial advisor before investing.
