Emerald Tyre Manufacturers Limited, a trusted name in tyre production and supply, has launched its Initial Public Offering (IPO) today, December 5, 2024. Investors are excited about this IPO due to the company’s strong reputation, solid financial performance, and promising future. Let’s look at all the important details of this IPO.
IPO Details:
- IPO Size: ₹49.26 crore.
- Price Band: ₹90 to ₹95 per share.
- Minimum Bid Size: 1,200 shares.
The issue period begins on December 5, 2024, and concludes on December 9, 2024.
This IPO comprises a fresh issuance of 4,986,000 shares along with an offer for sale (OFS) of 199,200 shares. Investors must apply for a minimum of 1,200 shares and can increase their bids in multiples of this quantity.
The IPO has attracted significant interest in the grey market, with shares trading at a ₹75 premium above the upper price band. This means the shares are unofficially valued at ₹170 each in the grey market.
Based on the current GMP of ₹75, investors can anticipate a listing gain of about 78.95%. If this trend holds, the stock could list at around ₹170 on the expected listing date, December 12, 2024.
Important Dates for Investors:
- Issue Close Date: December 9, 2024.
- Allotment Date: December 10, 2024.
- Demat Credit Date: December 11, 2024.
- Expected Listing Date: December 12, 2024, on the NSE SME platform.
Founded in 2002, Emerald Tyre Manufacturers is a well-known company that makes high-quality tyres under the brand name “GRECKSTER.” The company offers a wide range of products, including are Solid resilient tyres ,Industrial pneumatic tyres and Wheel rims.
Emerald Tyre’s strong track record and the high demand in the grey market make this IPO a promising opportunity for investors. However, potential investors should remember that grey market premiums are unofficial and can change. Seeking guidance from a financial advisor can be a wise step before making investment choices.
The Emerald Tyre Manufacturers IPO has created a buzz among investors due to its strong grey market performance and the company’s established reputation. With a listing date of December 12, 2024, this IPO might be a good choice for both short-term and long-term investors. Consider the risks, review your financial goals, and make an informed decision.
