Emerald Tyre Manufacturers Limited, established in Tamil Nadu, this company offers its products under the brand name “GRECKSTER”. Its IPO GMP shows a 100 % hike as the Initial Public Offering (IPO) of two issues witnessed a robust subscription.
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Emerald Tyre Manufacturers IPO GMP
The most crucial part of any IPO is the Grey Market Premium. If it indicates a robust hike, then it suggests a successful IPO because it shows that investors are interested in the company’s IPO and are ready to pay a high price to participate in it.
Emerald Tyre launched its Initial Public Offering (IPO) on Thursday, December 5, 2024. It provided per share with a price band of Rs 90 to Rs 95 per share. Last updated on December 9th, 2024, at 03:55 PM, Emerald Tyre Manufacturers IPO GMP is Rs 95.
Emerald Tyre has a strong IPO GMP growth of 100% with Rs 95 issue price and Rs 95 GMP price. This GMP is pointing to a robust Initial Public Offering (IPO) for Emerald Tyre. According to this GMP, Emerald Tyre Manufacturers SME IPO’s estimated price listing is Rs 190 (price cap + today’s GMP).
Emerald Tyre Manufacturers Subscription Status
Because Emerald Tyre Manufacturers IPO GMP is showing robust growth, it’s obvious that its Subscription is very high from all kinds of investors. As of December 9, 2024, 6:19:59 PM, Emerald Tyre Manufacturers IPO has been oversubscribed 530.59 times.
In this subscription, Retail Investors subscribed 558.11 times, Non-Institutional Buyers (NII) 912.18 times, and Qualified Institutions Buyers (QIB) subscribed 195.95 times.
Emerald Tyre Manufacturers IPO Details
Emerald Tyre Manufacturers launched its Initial Public Offering (IPO) on Thursday, December 5, 2024, with a total issue size of 51,85,200 equity shares aggregating up to Rs 49.26 Crore which comprises a fresh issue of up to 49,86,000 equity shares, and an Offer for Sale (OFS) of up to 1,99,200 equity shares.
This includes a reservation for Qualified Institutional Buyers (QIB) up to 9,76,800 (18.84%) shares, NII up to 7,33,200 (14.14%) shares, Retail Investors up to 17,11,200 (33%), Anchor Investors up to 14,64,000 (18.23%), and Market Makers up to 3,00,000 (5.79%) shares.
Emerald Tyre Manufacturers’ IPO issue price is Rs 90 to Rs 95 per share, and the lot size is 1200 shares. Retail investors will require a minimum investment of Rs 1,14,000, and the minimum lot for High-Net-Worth Individuals is 2 lots (2,400 shares), amounting to Rs 2,28,000.
Emerald Tyre Manufacturers IPO closed on Monday, December 9, 2024. This IPO is scheduled to be listed on the NSE SME exchange on Thursday, December 12, 2024.
About Emerald Tyre Manufacturers
Incorporated in 2002, Emerald Tyre Manufacturers specializes in Manufacturing, Supplying, and Servicing a wide range of tires. The Tamil-Nadu-based company provides its products under the brand name “GRECKSTER“.
Emerald Tyre Manufacturers’ products are exported globally including, the USA, UAE, Russia, and major European Countries like Belgium, Germany, Netherlands, Hungary, Portugal, Italy, Denmark, Poland besides the UK.
The company has warehouses in several locations such as Belgium, UAE, and The USA providing on-time delivery of products and value-added services to customers in Europe, the Middle East, and now in North America.
Emerald Tyre Manufacturers’ products are Solid Resilient Tyres, Press Bands, Industrial Pneumatic Tyres & Butly Tubes & Flaps and Wheel Rims. As of March 31, 2024, the company has 224 permanent and 191 contractual employees.
Emerald Eyre Manufacturers’ object behind this IPO is to fulfill the capital expenditure, fulfill the general corporate purposes, and meet the other expenses.
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