According to InvestorGain, the GMP for the Gem Aromatics IPO stood at Rs 29 as of 11:30 a.m. on August 21. It indicates a listing price of Rs 354 (Rs 325 + Rs 29) per share at a premium of 8.92% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 354 on the grey market.
About Gem Aromatics IPO
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The Gem Aromatics IPO is a book build issue of Rs 451.25 crore. It consists of a fresh issue of 54 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 85 lakh shares worth Rs 276.25 crore.
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The price band for the IPO has been fixed between Rs 309 and Rs 325 per share.
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Investors can bid for at least a single lot size of 46 shares and in multiples thereof.
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The allotment status for the IPO is expected to be finalised on August 22. Shares of Gem Aromatics are expected to be listed on the BSE and NSE on August 26.
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Motilal Oswal Investment Advisors Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar to the offer.
The company manufactures products, including essential oils and aroma chemicals. Its products are used in industries such as pharmaceuticals, cosmetics and personal care.
Day 3 Subscription Status: IPO has been booked 6.47 times as of 12:20 p.m. on the final day.
Day 2 Subscription Status: The Gem Aromatics IPO was subscribed 2.90 times on August 20. It received bids for 2,83,51,410 shares against 97,82,363 shares offered.
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Qualified Institutional Buyers: 1.54 times
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Non-Institutional Investors: 3.95 times
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Retail Individual Investors: 3.19 times
