Emerald Tyre Manufacturers Ltd.’s initial public offering (IPO) opened on Thursday, Dec. 5. The Rs 49.26-crore NSE SME issue comprises 51.85 lakh shares. Investors interested in the Emerald Tyre Manufacturers IPO should check these details before bidding for its shares.
Emerald Tyre Manufacturers IPO: Offer Size And Price Band
The Emerald Tyre Manufacturers IPO subscription window will close on Dec. 9. The IPO consists of a fresh issue of 49.86 lakh shares, worth Rs 47.37 crore, and an offer-for-sale (OFS) portion of 1.99 lakh shares, worth Rs 1.89 crore.
The IPO share allotment status is likely to be finalised on Dec. 10. The company will transfer shares to the demat accounts of successful bidders and initiate refunds for non-allottees on Dec. 11.
Emerald Tyre Manufacturers’ shares are likely to be listed on the NSE SME platform Emerge on Dec. 12.
The Emerald Tyre Manufacturers IPO price band has been set at Rs 90 to Rs 95 per share. Retail investors are required to bid for at least a single lot of 1,200 shares. This entails a minimum investment of Rs 1,14,000 per application.
Link Intime India Pvt. Ltd. is the registrar for the Emerald Tyre Manufacturers IPO. On the other hand, GYR Capital Advisors Pvt. Ltd. is the book running lead manager of the issue and Giriraj Stock Broking is the market maker.
Emerald Tyre Manufacturers IPO GMP Today
Emerald Tyre Manufacturers IPO GMP (grey market premium) stood at Rs 75 as of 7:57 a.m. on Dec. 5. The latest GMP indicates listing of the stock at a premium of 78.95% over the issue price, as per InvestorGain.
As per the current Emerald Tyre Manufacturers IPO GMP, the shares are slated to list at Rs 170 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Emerald Tyre Manufacturers Ltd. Business
Emerald Tyre Manufacturers Ltd. was incorporated in 2002 and is engaged in the manufacturing, supply and services for a comprehensive range of tyres for material handling applications. Its products include forklifts, skid loaders, ground support equipment of airports, port trailers, agri implements, lawn and garden mowers, mining equipment, aerial work platform trucks, backhoe loaders etc.
The company has a manufacturing unit at Gummidipoondi in Tiruvallur district of Tamil Nadu, which is spread over 10 acres.
Use Of Proceeds
Emerald Tyre Manufacturers Ltd. said in its red herring prospectus that it will use the proceeds from the fresh issue of the IPO for meeting capital expenditure, general corporate purposes and to meet the IPO expenses.
Financials
Emerald Tyre Manufacturers Ltd. reported a revenue of Rs 64.92 crore for the period ended July 31 in the current financial year, while its profit after tax stood at Rs 4.13 crore. In the financial year 2024, the company’s revenue stood at Rs 171 crore and PAT at Rs 12.14 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.Emerald Tyre Manufacturers IPO GMP stood at Rs 75 as of 7:57 a.m. on Dec. 5. Read MoreIPOs
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