Emerald Tyre Manufacturers Limited is preparing to launch its IPO shortly, providing investors an excellent chance to profit, as it stands out in the tire manufacturing industry. This IPO will be available for subscription from December 5, 2024, until December 9, 2024.
An initiative to secure Rs 49.26 crore via this offering
The firm plans to secure Rs 49.26 crore via this offering. In this issue, 51,85,200 equity shares will be offered, each having a face value of Rs 10. The IPO comprises 49.86 lakh new equity shares valued at Rs 47.37 crore and 1.99 lakh shares worth Rs 1.89 crore as an Offer for Sale (OFS). The firm has set the price range for the IPO between Rs 90 and Rs 95 per share.
Number of IPO in the share
The number of shares in the IPO will be 1200. Retail investors will need to invest at least Rs 1,14,000. S-HNI investors will need at least 2 lots (Rs 2,28,000). The company’s stock will be listed under the SME category of NSE on December 12, 2024. As per Chittorgarh.com, the grey market premium (GMP) for the IPO stands at Rs 50 as of December 3, which is today. This suggests that the firm’s shares could be listed at a premium of Rs 145, providing investors with a listing gain of 53.63%.
Some notable informations about the company
Founded in 2002, Emerald Tire Manufacturers Limited works in the off-highway tire and wheel industry. In the early days, it focused solely on tire production, distribution, and maintenance, but it now offers comprehensive solutions. In FY 2024, the firm generated a revenue of Rs 171.97 crore, compared to Rs 167.98 crore in 2023.
For the year ending March 2024, the company reported a consolidated net profit of Rs 12.1 crore, an increase from Rs 8.9 crore in the prior financial year. The company’s promoter is Chandrasekaran Tirupati Venkatachalam.
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