gem aromatics has successfully completed the utilization of its Initial Public Offer (IPO) proceeds as of the quarter ended March 31, 2026. The company submitted the final monitoring agency report to the stock exchanges, confirming that the gross proceeds of Rs 1,750.00 million have been fully deployed. The report, issued by CRISIL Ratings Limited, was prepared in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Issue Details and Allocation

The IPO, which opened for subscription from August 19, 2025, to August 21, 2025, comprised equity shares with a total issue size of Rs 1,750.00 million. After deducting issue expenses amounting to Rs 121.37 million, the net proceeds available for deployment were Rs 1,628.63 million. The company allocated these funds towards specific objectives, including the repayment of borrowings and general corporate purposes.

Utilization of Proceeds

The primary object of the issue was the prepayment or repayment of outstanding borrowings availed by the company and its subsidiary, Krystal Ingredients Private Limited. A total of Rs 1,400.00 million was utilized for this purpose. Additionally, funds were allocated to general corporate purposes and issue expenses. The actual issue expenses were lower than estimated, resulting in a saving of Rs 4.58 million, which was subsequently added to the general corporate purposes allocation.

Monitoring Agency Observations

CRISIL Ratings Limited, acting as the monitoring agency, confirmed that there were no deviations from the objects stated in the offer document. The agency verified the utilization based on a management undertaking, statutory auditor certificates, and bank statements. The report highlighted that the amount utilized for general corporate purposes did not exceed 25% of the gross proceeds. As of March 31, 2026, the IPO public issue account and monitoring account balances were nil, indicating the complete deployment of funds.

The board of directors approved the utilization of funds for general corporate purposes towards meeting expenses incurred in the ordinary course of business, including vendor payments for raw materials. With the full utilization of proceeds, this monitoring agency report serves as the final submission regarding the IPO fund deployment for Gem Aromatics Limited.

Gem Aromatics Limited has submitted its quarterly compliance certificate to the stock exchanges for the quarter and year ended March 31, 2026. The filing fulfills the company's regulatory obligations under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

The company filed the mandatory certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 with both BSE Limited and National Stock Exchange of India Limited on April 04, 2026. Company Secretary and Compliance Officer Akshita Deepak Gohil signed and submitted the compliance documentation to the respective listing departments.

Certificate Confirmation

KFin Technologies Limited, serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate dated April 03, 2026. The certificate confirms that no Demat/Remat requests were processed during the quarter ended March 2026. Vice President Dnyanesh Gharote signed the certificate on behalf of KFin Technologies Limited.

Stock Exchange Details

The compliance filing was submitted to both major Indian stock exchanges where Gem Aromatics Limited shares are listed:

Company Information

Gem Aromatics Limited, formerly known as Gem Aromatics Pvt. Ltd., operates as a manufacturer and exporter of essential oils and aromatic chemicals. The company maintains its registered office at A/410-411, A-Wing, Kailash Ind. Complex, Powai Vikhroli link Rd, Vikhroli West, Mumbai-400079, Maharashtra. The regulatory filing demonstrates the company's commitment to maintaining compliance with SEBI regulations and transparency requirements for listed entities.