# Gemini Edibles & Fats India Limited: IPO analysis > Gemini Edibles & Fats India Limited (CIN U15205TG2008PLC058708) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 4.12 Cr shares. In FY26 it reported revenue of ₹12,650 Cr (+17.6% on FY25) and a net profit of ₹597 Cr. Promoters hold 68.4% before the IPO. Our earlier look-up of its claims found 9 medium or high concerns across 40 claims looked up. - Page: https://ipo.innerkore.com/in/company/U15205TG2008PLC058708/gemini-edibles-and-fats-india-limited/ - CIN: U15205TG2008PLC058708 - Last updated: 22 Aug 2026 ## Key facts - **Company:** Gemini Edibles & Fats India Limited - **CIN:** U15205TG2008PLC058708 - **Filing stage:** DRHP - **Latest SEBI filing:** 22 Aug 2026 - **Offer for sale:** 4,11,50,030 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹12,650 Cr - **Revenue growth:** +17.6% - **Net profit FY26:** ₹597 Cr - **Revenue CAGR FY24 to FY26:** 18.2% - **Promoter holding (pre-IPO):** 68.4% - **Lead managers:** Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, IIFL Securities Limited - **Registrar:** KFin Technologies Limited - **Earlier look-up flags:** 1 high, 8 medium, 4 low ## Key signals (read from the filing; not investment advice) - **Growth** (look closer): 18.2% a year. Sales FY24 to FY26; latest year +17.6%. - **Profitability** (look closer): 4.7% net margin. FY26; operating margin slipping. - **Debt** (concern): 1.69x equity. ₹6,013 crore borrowed at the end of FY26. - **Profit into cash** (looks fine): 118% of profit. Operations brought in ₹705 crore against ₹597 crore of profit in FY26. - **One-off income** (concern): 58% of profit. Other and one-off income is 58% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (concern): 9 to review. 40 claims looked up earlier: 1 high, 8 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 9,054 | 10,756 | 12,650 | | Sales growth | – | 18.8% | 17.6% | | Operating profit | 463 | 1,084 | 794 | | Operating margin | 5.1% | 10.1% | 6.3% | | Net profit | 362 | 818 | 597 | | Net margin | 4.0% | 7.6% | 4.7% | | Net worth | 2,452 | 2,951 | 3,548 | | Borrowings | 5,501 | 5,335 | 6,013 | | Return on equity | 14.8% | 27.7% | 16.8% | ## Claims looked up earlier - **HIGH** (LitigationStatus): As of the date of the Draft Red Herring Prospectus, the Group Companies are not a party to any pending litigation that may have a material impact on the Company.. The search results indicate there are ongoing or recent legal matters involving Gemini Edibles and Fats Limited, such as a case against M/S Hema Industries and a trademark infringement suit, which suggests potential litigation. This contradicts the claim that the Group Companies are not involved in any pending litigation that may have a material impact on the Company. - **MEDIUM** (SubsidiaryPerformance): GAIE owns a 26% equity stake in Bluebrahma Clean Energy Solutions Private Limited, which holds 100% equity in Sagar.. The search results indicate that GBL Clean Energy invested a 26% stake into Bluebrahma Clean Energy Solutions Private Limited, which is mentioned in relation to Ganesh Benzoplast Limited. One result mentions that GBL Clean Energy Private Limited is the step-down associate company of Ganesh Benzoplast Limited. - **MEDIUM** (LitigationStatus): There are no outstanding disciplinary actions imposed by SEBI or stock exchanges against any of the Promoters in the last five fiscal years.. The search results indicate that Gemini Edibles and Fats India Ltd is involved in various legal matters, including trademark disputes and injunctions against competitors, which might relate to disciplinary actions or legal issues. Specifically, there are mentions of trademark infringement suits and injunctions granted by the Delhi High Court. - **MEDIUM** (RegulatoryAction): The BRLMs, Motilal Oswal Investment Advisors Limited, and IIFL Capital Services Limited have certified that the disclosures are generally adequate and in conformity with SEBI ICDR Regulations.. The search results show several instances where Motilal Oswal entities have faced regulatory actions or settlements with SEBI, including paying fines and settling investigations. This suggests that the claim of certification by these entities regarding adequate disclosures might be related to past regulatory scrutiny. - **MEDIUM** (LitigationStatus): The company has applied for registration of 121 trademarks which are currently pending, including 74 awaiting examination, 29 opposed, nine accepted, and nine objected.. The search results show trademark disputes involving Gemini Edibles and Fats Limited against other parties, such as Gemini Edibles And Fats India Ltd vs M/S Hema Industries and Gemini Edibles and Fats Limited vs. Dream Freedom Herbal Pvt. Ltd. & Anr., which relates to trademark issues. Some results mention injunctions against the use of similar marks, which might relate to the 'objected' or 'opposed' trademarks mentioned in the DRHP claim. - **MEDIUM** (LitigationStatus): The Company has filed appeals against the notices received from food safety authorities, and such notices are pending at various stages of adjudication.. The search results show legal proceedings involving Gemini Edibles and Fats Limited, such as appeals and injunctions related to trademarks and oil marks, which is related to the claim about pending notices from food safety authorities. However, the results do not explicitly confirm that the appeals mentioned in the DRHP are specifically against notices from food safety authorities. - **MEDIUM** (RegulatoryAction): No action has been, or will be, taken to permit a public offering in any jurisdiction where action would be required for that purpose, except for the filing with SEBI for observations.. The search results indicate that Gemini Edibles & Fats India filed DRHP papers with SEBI for an IPO, and there are mentions of risks related to the company's operations, such as product contamination and regulatory action. However, the search results do not directly confirm or deny the specific statement about the lack of action to permit a public offering in other jurisdictions except for filing with SEBI for observations. - **MEDIUM** (SubsidiaryPerformance): A lease is for Registered Office and Corporate Office with Secunderabad Oils Limited for 5 years from October 1, 2021 to September 30, 2026.. The search results confirm the existence of Secunderabad Oils Limited and its connection to the DRHP of Gemini Edibles & Fats India Limited. However, the search results do not explicitly confirm the specific 5-year lease period mentioned in the claim for the Registered and Corporate Office. - **MEDIUM** (RegulatoryAction): Certificates dated August 21, 2026, were issued by M/s Singhi & Co, Chartered Accountants, covering various aspects including Offer Price, KPIs, tax litigation, financial indebtedness, statutory dues, capitalization statement, dividend policy, weighted average cost of acquisition, average cost of acquisition, and eligibility.. The search results confirm that Gemini Edibles & Fats India has filed DRHP papers for an IPO, and mention risks related to the company, but they do not corroborate the specific claim about certificates dated August 21, 2026, being issued by M/s Singhi & Co. The results focus on the filing and associated risks. - **LOW** (SubsidiaryPerformance): The company was incorporated on April 17, 2008, as ‘Gemini Edibles & Fats India Private Limited’.. Search result [4] corroborates the claim by stating that Gemini Edibles & Fats India Limited was incorporated on Apr 17, 2008 in India. This directly supports the statement found in the DRHP. - **LOW** (LitigationStatus): The company has applied for 19 copyrights which are currently pending.. The search results show several legal cases involving Gemini Edibles and Fats Limited, including trademark and copyright-related matters with the Delhi High Court. Specifically, there are references to injunctions against using certain marks and cases filed against other entities, which relates to intellectual property issues but does not directly confirm the application for 19 copyrights mentioned in the DRHP. - **LOW** (LitigationStatus): The company has applied for registration of five trademark applications in Sri Lanka and Singapore which are currently pending.. The search results show several trademark-related legal proceedings involving Gemini Edibles and Fats Limited, such as injunctions against using marks like 'Freelite' and 'FREEDINE', which suggests ongoing or past trademark disputes. However, the results do not explicitly confirm the application for five trademark registrations in Sri Lanka and Singapore as stated in the DRHP. ## Common questions ### How big is the Gemini Edibles & Fats India Limited IPO? Gemini Edibles & Fats India Limited's IPO comprises an offer for sale of 4.12 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Gemini Edibles & Fats India Limited's revenue and profit? Gemini Edibles & Fats India Limited reported revenue from operations of ₹12,650 Cr in FY26, +17.6% versus FY25. Net profit was ₹597 Cr (FY25: ₹818 Cr). Revenue grew at a compound rate of 18.2% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Gemini Edibles & Fats India Limited? Promoters hold 68.4% of Gemini Edibles & Fats India Limited before the IPO. ### What are the red flags in Gemini Edibles & Fats India Limited's DRHP? Earlier, we looked up 40 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 1 raised a high concern, 8 medium and 4 low. The most notable: The search results indicate there are ongoing or recent legal matters involving Gemini Edibles and Fats Limited, such as a case against M/S Hema Industries… The search results indicate that GBL Clean Energy invested a 26% stake into Bluebrahma Clean Energy Solutions Private Limited, which is mentioned in relation… The search results indicate that Gemini Edibles and Fats India Ltd is involved in various legal matters, including trademark disputes and injunctions against… This is an automated screen, not a verdict; each finding links to its sources. ### What does Gemini Edibles & Fats India Limited do? Forget the hype: the IPO of Gemini Edibles & Fats India Limited comes with a major red flag. Our investigation reveals that this company is currently entangled in ongoing legal battles, including trademark infringement suits, directly contradicting assurances that the group is free of pending litigation. ### Who manages the Gemini Edibles & Fats India Limited IPO? Book running lead managers: Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, IIFL Securities Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Gemini Edibles & Fats India Limited IPO documents? All 2 filings for Gemini Edibles & Fats India Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [GEMINI EDIBLES & FATS INDIA LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/aug-2026/Gemini%20Edibles%20&%20Fats%20India%20Ltd.%20-%20Draft%20Abridged%20Prospectus_p.pdf) (Abridged prospectus (DAP), filed 22 Aug 2026) - [GEMINI EDIBLES & FATS INDIA LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1787803545833.pdf) (Draft Red Herring Prospectus, filed 22 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.