New Delhi, Aug. 26 -- Gem Aromatics is set to make its debut on the Indian stock market today, after its IPO received a stellar response from investors during the bidding period held between August 19 and August 21.

The Rs.451 crore initial public offering received bids for 29.59 crore shares against the total offer of 97.19 lakh shares, resulting in an overall subscription of 30.45 times by the end of Day 3, according to exchange data.

The Qualified Institutional Buyers (QIB) category saw strong interest, with its portion subscribed 53 times, while the non-institutional investors' quota was subscribed 45 times. The retail investors' portion was subscribed 10.49 times.

The company proposes to use the proceeds from the issue for the pre...