Gem Aromatics Plans IPO to Fuel Growth

Gem Aromatics, a Mumbai-based manufacturer, has filed a draft with Sebi for an IPO involving fresh equity shares worth Rs 175 crore and an offer for sale. Promoters and investor dōTERRA Enterprises will offload shares. Funds will aid debt repayment and corporate purposes.

In a significant financial move, Gem Aromatics, a renowned Mumbai-based specialty ingredient manufacturer, has filed draft papers with Sebi for an initial public offering (IPO).

The IPO consists of a fresh issue of equity shares totaling Rs 175 crore, alongside a sale offer of approximately 89.24 lakh shares by promoters and investor dōTERRA Enterprises.

The firm plans to allocate the proceeds from the fresh issue towards debt repayment and general corporate purposes, as it positions itself as a leading player in the Indian specialty ingredients market.

(With inputs from agencies.)