Emerald Tyre Manufacturers Limited IPO, a leading company in the tire production sector, is going to launch its IPO soon, which will give investors a great opportunity to earn. This IPO will be open for subscription starting from December 5, 2024 to 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 as Offer for Sale (OFS). The company has fixed the price band of the IPO at Rs 90 to Rs 95 per share.

How much money is needed for investment

The lot size in the IPO will be 1200 shares. Retail investors will have to invest a minimum of Rs 1,14,000. A minimum of 2 lots (Rs 2,28,000) will be required for S-HNI investors. The company's shares will be listed in the SME category of NSE on December 12, 2024.

What is the Grey Market Premium (GMP)

According to Chittorgarh.com, the grey market premium (GMP) of the IPO is Rs 50 as of December 3, i.e. today. This indicates that the company's shares may be listed at a premium of Rs 145, giving 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 FY 2024, the company had collected a revenue of Rs 171.97 crore, which was Rs 167.98 crore in 2023.

In the year ended March 2024, the consolidated net profit of the company stood at Rs 12.1 crore, up from Rs 8.9 crore in the previous financial year. The promoter of the company is Chandrasekaran Tirupati Venkatachalam, under whose leadership the company has strengthened its position.