Emerald Tyre Manufacturers IPO: Check Latest GMP As Issue Booked More Than 500 Times On Final Day

Emerald Tyre Manufacturers Ltd.'s IPO, which closed for bidding on Monday, received a tremendous response from investors as the SME issue was booked more than 500 times. The issue was subscribed 114.84 times on Friday and 44.51 times on Thursday. The demand for the IPO is led by Non-Institutional Investors who have booked the issue more than 900 times.

The Rs 49.26-crore NSE SME issue comprises 51.85 lakh shares.

Here's all you need to know about the Emerald Tyre Manufacturers IPO.

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 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.

As per the company's red herring prospectus, of the 5,185,200 shares offered -- 18.84% is reserved for Qualified Institutional Buyers, 14.14% is reserved for Non-Institutional Buyers, 33.00% is reserved for Retail Investors and 28.23% is reserved for Anchor investors.

Link Intime India Pvt. Ltd. is the registrar for the Emerald Tyre Manufacturers IPO. Whereas, GYR Capital Advisors Pvt. Ltd. is the book-running lead manager of the issue and Giriraj Stock Broking is the market maker.

The Emerald Tyre Manufacturers IPO subscription window closed on Dec. 9.

The IPO has been subscribed 530.59 times as of 5:54 pm on Monday

• Qualified Institutions: 195.95 times.

• Non-Institutional Buyers: 912.18 times.

• Retail Investors: 558.11 times.

The subscription status will be updated at regular intervals.

The grey market premium (GMP) for Emerald Tyre Manufacturers IPO stood at Rs 95 as of 3:35 p.m. on Dec. 9, as per InvestorGain. This indicates a listing price of Rs 190 apiece at a premium of 100%.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The share allotment status for Emerald Tyre Manufacturers IPO is likely to be finalised on Tuesday, 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 will list on NSE SME with a tentative listing date fixed as Thursday, Dec. 12.

The IPO was subscribed 114.84 times on Friday.

• Qualified Institutions: 0.63 times.

• Non-Institutional Buyers: 137.27 times.

• Retail Investors: 170.43 times.

The IPO was subscribed 44.51 times on Thursday.

• Qualified Institutions: 0.52 times.

• Non-Institutional Buyers: 43.42 times.

• Retail Investors: 70.09 times.

Emerald Tyre Manufacturers Ltd. was incorporated in 2002 and is engaged in the manufacturing, supply, and services of a comprehensive range of tyres for material handling applications. Its products include forklifts, skid loaders, airport ground support equipment, port trailers, agri implements, lawn and garden mowers, mining equipment, aerial work platform trucks, and backhoe loaders.

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.