Emerald Tyre Manufacturers Limited will open its Initial Public Offering (IPO) on December 5, 2024. The IPO will remain open for subscription until December 9, 2024, giving investors a chance to own a stake in this well-established company in the industrial tyre segment.
Key Details of Emerald Tyre IPO
- IPO Open Date: December 5, 2024
- IPO Close Date: December 9, 2024
- Price Band: ₹90 to ₹95 per equity share
- Face Value: ₹10 per share
- Lot Size (Minimum Order Quantity): 1,200 shares
- Listing Exchange: NSE SME Emerge
The IPO comprises a new issue of 49.86 lakh shares and an offer for sale (OFS) of 1.99 lakh shares. The total IPO size is estimated to be ₹49.26 crore, and the proceeds from the fresh issue will primarily go toward capital expenditure, working capital needs, and general corporate purposes.
The Emerald Tyre Manufacturers IPO is attracting considerable attention in the grey market. Currently, the Grey Market Premium (GMP) stands at ₹50 per share, indicating strong demand from investors. This premium suggests that the estimated listing price could reach ₹145 per share, which is 52.63% higher than the upper price band of ₹95 per share.
The GMP is a positive indicator of market sentiment, but investors should remember that grey market activity is informal and speculative.
Emerald Tyre Manufacturers Limited, founded in 2002, focuses on producing tyres for material handling equipment. Their range includes tyres for forklifts, skid loaders, airport ground support equipment, agricultural tools, and mining vehicles. Operating under the brand “GRECKSTER,” the company has gained recognition in both local and global markets.
Emerald Tyre’s state-of-the-art manufacturing facility in India is equipped with advanced machinery and focuses on research and development to offer innovative and reliable products. With more than 20 years of experience, the company has established itself as a major player in the tyre industry.
The Emerald Tyre Manufacturers IPO offers investors a chance to participate in the growth of a company with a strong reputation in the tyre industry. While the grey market premium shows optimism, it is essential to do thorough research and understand the risks involved.
For investors looking to diversify their portfolio and invest in a growing sector, this IPO could be an exciting opportunity.
