Gem Aromatics Limited, formerly known as Gem Aromatics Pvt. Ltd., has reported a successful utilization of proceeds from its Initial Public Offer (IPO) for the quarter ending September 30, 2025. The IPO, which took place from August 19 to August 21, 2025, raised a total of Rs 1,750 million, with net proceeds amounting to Rs 1,628.63 million after deducting issue expenses of Rs 121.37 million. The Monitoring Agency report issued by CRISIL Ratings Limited confirms that there were no deviations from the intended use of funds, reinforcing the company's commitment to transparency and compliance with SEBI regulations.

The Monitoring Agency report, as mandated by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was submitted on November 13, 2025, and is available on the company's website. The report provides an objective overview of how the IPO proceeds have been utilized, asserting that the information presented is based on reliable sources. It also highlights that the monitoring agency does not conduct audits or independent verifications, focusing instead on the accuracy of the issuer's disclosures.

Gem Aromatics, a manufacturer and exporter of essential oils and aromatic chemicals, operates from multiple locations in India, including its registered office in Mumbai and facilities in Silvassa and Budaun, Uttar Pradesh. With a strong backing from its promoters, the Parekh family, the company is focused on expanding its operations within the specialty chemicals sector. The successful IPO and the positive report from CRISIL signify a robust start for Gem Aromatics as it navigates its growth trajectory in the competitive market.