Gem Aromatics IPO, Gem Aromatics IPO Day 2: The initial public offering (IPO) of Gem Aromatics Ltd, a manufacturer of specialty ingredients, has been booked 2 times on the second day of bidding, Wednesday, August 20.
According to the BSE data, the issue received bids for 1.95 crore shares against the 97,82,363 shares on offer by 1:27 pm
Category-wise subscription details
Here are the category-wise subscription details:
- Retail Individual Investors (RIIs): 2.30x
- Qualified Institutional Buyers (QIBs): 1.18x
- Non-Institutional Investors: 2.32x
Anchor investor details
The company had raised Rs 135 crore from anchor investors.
IPO structure
The IPO consists of a fresh issue of equity shares worth up to Rs 175 crore and an offer for sale (OFS) of up to 85 lakh shares, aggregating Rs 276.25 crore. The company has fixed the price band at Rs 309–325 per share.
Gem Aromatics IPO: Funds utilisation
Funds from the fresh issue will be used as follows:
- Debt repayment
- General corporate purposes
Who are lead manager, registrar?
Motilal Oswal Investment Advisors is the sole book-running lead manager to the issue, while KFin Technologies acting as the registrar for the IPO.
