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Emerald Tire Manufacturers Limited (Emerald Tire Manufacturers Limited IPO), a leading company in the tire production sector, is going to launch its IPO soon, due to which investors will have a great opportunity to earn. This IPO will be open for subscription starting from December 5, 2024 till December 9, 2024. The company aims to raise Rs 49.26 crore through this issue.
IPO size and price band
Under this issue, 51,85,200 equity shares will be issued, whose face value is Rs 10 per share. The IPO includes 49.86 lakh fresh equity shares worth Rs 47.37 crore and 1.99 lakh shares worth Rs 1.89 crore in the form of Offer for Sale (OFS). The company has fixed the price band of IPO at Rs 90 to Rs 95 per share.
How much money is needed for investment
One lot size in IPO will be 1200 shares. Retail investors will have to invest at least Rs 1,14,000. For S-HNI investors, a minimum of 2 lots (Rs 2,28,000) will be required. The company’s shares will be listed in the SME category of NSE on December 12, 2024.
What is the Gray Market Premium (GMP)?
According to Chittorgarh.com, the Gray Market Premium (GMP) of the IPO is running at Rs 50 as on December 3 i.e. today. This indicates that the company’s shares may be listed at a premium of Rs 145, which is likely to give investors a listing gain of 53.63%.
Company’s work and performance
Established in 2002, Emerald Tire Manufacturers Limited operates in the off-highway tire and wheel sector. In the initial days, it was limited to tire manufacturing, supply and servicing, but now it provides complete solutions. In the financial year 2024, the company had collected revenue of Rs 171.97 crore, which was Rs 167.98 crore in 2023.
In the year ending March 2024, the company’s consolidated net profit stood at Rs 12.1 crore, compared to Rs 8.9 crore in the previous financial year. The promoter of the company is Chandrasekaran Trirupati Venkatachalam, under whose leadership the company has strengthened its position.
