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Gem Aromatics IPO, Gem Aromatics IPO Day 2: The initial public offering (IPO) of Gem Aromatics Ltd, a manufacturer of speciality ingredients, has been booked 2.66 times so far on the second day of bidding, Wednesday, August 20.

According to the BSE data, the issue received bids for 2.59 crore shares against the 97,82,363 shares on offer by 04:03 pm

Category-wise subscription details

Here are the category-wise subscription details:

Ahead of the IPO opening, the company raised Rs 135 crore from anchor investors.

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.

Funds from the fresh issue will be used as follows:

Motilal Oswal Investment Advisors is the sole book-running lead manager to the issue, while KFin Technologies acting as the registrar for the IPO.

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