Gem Aromatics IPO allotment status: Check application, latest GMP & listing date

Gem Aromatics is likely to finalize the basis of allotment of its shares on Friday, August 22. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by weekend or latest by Monday 25. The flavour and fragrance player saw a decent response from the investors.

The IPO of Mumbai-based Gem Aromatics was open for bidding between August 19-August 21. It had offered its shares in the price band of Rs 309-325 per share with a lot size of 46 shares. The company raised a total of Rs 451.25 crore via IPO, which included a fresh share sale of Rs 175 crore and an offer-for-sale (OFS) of up to 85 lakh equity shares worth Rs 276.25 crore.

The issue was overall subscribed 30.27 times fetching nearly 10.6 lakh applications and bids worth more than Rs 9,600 crore. The allocation for the qualified institutional bidders (QIBs) was subscribed 55.28 times The portion for non-institutional investors (NIIs) booked 45.06 times. Allocation for retail investors was booked 10.31 times.

The grey market premium (GMP) of Gem Aromatics has crept up marginally, following a decent bidding amid fragile market sentiments. Last heard, the company was commanding a premium of Rs 28 in the unofficial market, suggesting a listing pop of nearly 9 per cent for the investors. The GMP stood at Rs 26 when the issue was running for bidding.

Incorporated in October 1997, Mumbai-based Gem Aromatics manufactures specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of experience. It offers various products, from mother ingredients. Its products are used in oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, pain management, and personal care.

Motilal Oswal Investment Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on August 26, Tuesday. Investors, who had bid for the issue of Gem Aromatics, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Gem Aromatics Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.