 "IPO")
Emerald Tyre Manufacturers IPO GMP zooms: The unlisted shares of tyre manufacturer and supplier Emerald Tyre Manufacturers are commanding a solid premium in the grey market ahead of the launch of its initial public offering (IPO) for subscription today, December 5, 2024. The company's shares were quoted at Rs 170, reflecting a grey market premium (GMP) of Rs 75, or 78.95 per cent against the upper end of the IPO price band, revealed the sources tracking unofficial markets.
Emerald Tyre Manufacturers IPO size, price band
Emerald Tyre Manufacturers IPO is a book-built issue of Rs 49.26 crore. It comprises a fresh issue of 4,986,000 shares and an offer for sale (OFS) of 199,200 shares with a face value of Rs 10 apiece. Karthikeyan Swarnam and S. Vijayalakshmi are the shareholders participating in the OFS.
The IPO is priced in the range of Rs 90-95 per share. The minimum bid size is 1,200 shares, and investors can apply in multiples thereof.
Emerald Tyre Manufacturers IPO key dates
Also Read
 "IPO")
 "IPO")
 "Market, BSE, NSE, NIfty, Stock Market, investment")
 "IPO")
 "Equity markets around the world continue to be on a tear. The MSCI Global Equity Index is close to its lifetime highs, up a staggering 30 per cent over the last year. But it is not just equities; all asset classes have thrived in recent months.")
The subscription for the IPO will close on Monday, December 9, 2024. The basis of allotment is expected to be finalised on Tuesday, December 10, 2024. Successful allottees will receive shares in their demat accounts on Wednesday, December 11, 2024. The company’s shares are likely to debut on the NSE SME platform on Thursday, December 12, 2024.
Emerald Tyre Manufacturers IPO objectives
According to the Red Herring Prospectus (RHP), Emerald Tyre Manufacturers will not receive any proceeds from the OFS. Each selling shareholder will receive their respective portion of the proceeds after deducting offer-related expenses and applicable taxes.
The proceeds from the fresh issue will be utilised for capital expenditure, general corporate purposes, and offer-related expenses.
Emerald Tyre Manufacturers IPO Registrar, lead manager
Link Intime India is the registrar for the IPO, while GYR Capital Advisors is the sole book-running lead manager for the issue.
About Emerald Tyre Manufacturers
Incorporated in 2002, Emerald Tyre Manufacturers specialises in manufacturing and supplying a wide range of tyres under the brand name ‘GRECKSTER’. The product portfolio includes solid resilient tyres, industrial pneumatic tyres, and wheel rims.
The company exports its products to international markets, including the USA, UAE, Russia, and several European countries. It has warehouses in Belgium, the UAE, and the USA to ensure timely delivery of products.
 "Market, stock market")
 "market decline nse bse stock market")
 "The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia")
 "BSE, stock market, sensex")
 "Stock Market, Market, Crash, Funds, up, Stock, Lost, decline, statistic, Crisis, Capital, BSE, NSE")
