Emerald Tyre Manufacturers Shares List With 90% Premium

Emerald Tyre Manufacturers made its debut on the NSE Emerge platform on December 12, with shares listed at ₹180.50, reflecting a 90% premium over the issue price of ₹95. The stock saw a strong market reception as it began trading.

In the first 5 minutes of trading, over 10.69 lakh shares exchanged hands, with a total turnover of ₹19.68 crore. The company’s market capitalization reached ₹369.08 crore, further highlighting the strong investor interest and demand.

Emerald Tyre Manufacturers plans to utilize the IPO proceeds for capital expenditure, general corporate purposes, and to cover offer-related expenses.

Subscription Success

The Tamil Nadu-based company’s initial public offering (IPO) received an overwhelming response during its subscription period from December 5 to 9. The issue, valued at ₹50 crore, was subscribed nearly 500 times, indicating robust investor confidence in the company.

• Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 196 times, with bids for 19.14 crore shares, far exceeding the 9.76 lakh shares allocated to them.
• Non-Institutional Investors (NIIs): The NII portion was subscribed 913 times, as they applied for 66.94 crore shares compared to the 7.33 lakh shares available.
• Retail Individual Investors (RIIs): Retail investors also showed strong interest, subscribing 559 times with applications for 95.7 crore shares against the 17.11 lakh shares offered to them.

About Emerald Tyre Manufacturers Ltd

Incorporated in 2002, Emerald Tyre Manufacturers is a leading off-highway tyre manufacturer. The company specializes in producing tyres for various material handling applications, including forklifts, skid loaders, ground support equipment, mining equipment, and agricultural implements. The tyres are sold under the brand GRECKSTER.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.