Gem Aromatics IPO
Gem Aromatics IPO Day 1 Update: Subscriptions at 17%, Retail Surge Outpaces Institutional Interest
Today marks the Day 1 of the Gem Aromatics IPO, and here’s how it’s shaping up so far.
By 11:00 AM, the issue has already seen subscription of 17% overall, marking its with 16.84 lakh bids received against an issue size of 97.82 lakh shares. On the other hand retail investors have already grabbed 30% of their allocation, and this counts as not bad for just the first morning!
Meanwhile, non-institutional investors (NIIs) have chipped in modestly at 10%, while qualified institutional buyers (QIBs) are yet to join the race.
All of this unfolds despite a dip in the grey market premium (GMP), hinting that this excitement may be tempered for now.
Curious whether this is a buy signal or a wait-and-watch moment?
It is a Mumbai based comoany, Gem Aromatics produces specialty ingredients, and the list includes essential oils, aroma chemicals, and value added derivatives.
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