Economic Laws Practice (ELP) advised Book Running Lead Manager (BRLM) Motilal Oswal in connection with Gem Aromatics Limited filing a draft red herring prospectus to raise an amount aggregating up to ₹175 crore through Initial Public Offering (IPO).
The transaction team was led by Geeta Dhania (Partner) and Prashaant Vikram Rajput (Partner), and assisted by Tripti Pandey (Principal Associate), Shreeya Srungarapu, Vedaarth Uberoi, Devika Radha, Shefali Jain and Shreya Prakash (Associates).
The IPO comprises a fresh issue of equity shares worth up to ₹175 crore and an offer for sale (OFS) of up to 89.24 lakh shares by existing shareholders, including promoters and investor dōTERRA Enterprises, Sarl. The proceeds from the fresh issue are intended for debt repayment and general corporate purposes.
Established over two decades ago, Gem Aromatics specializes in manufacturing essential oils, aroma chemicals, and value-added derivatives.
Their products cater to various industries, including oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness, and personal care. The company operates three manufacturing facilities located in Uttar Pradesh, Dadra and Nagar Haveli, and Gujarat.
Notably, Gem Aromatics has a strong client portfolio featuring major names such as Colgate-Palmolive, Dabur, Patanjali, SH Kelkar, Rossari Biotech, and Symrise.
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