Emerald Tyre Manufacturers IPO: GMP and Key Details
Emerald Tyre Manufacturers Limited, based in Tamil Nadu, has launched its SME IPO from December 5 to December 9, 2024, with a price band of ₹90-95 per share. The company aims to raise ₹49.26 crores, comprising fresh issues worth ₹47.37 crores and an offer-for-sale of ₹1.89 crores. The Grey Market Premium (GMP) for this IPO is ₹75, indicating strong investor sentiment.
Key Financial Highlights
- Revenue Growth: ₹171.97 crores (FY24) vs. ₹167.98 crores (FY23).
- Profit: ₹12.24 crores (FY24) with a PAT margin of 7.16%.
- Debt-to-Equity Ratio: 1.61.
- EPS: ₹8.71.
Objectives of the IPO
- Fund capital expenditure.
- General corporate purposes.
- Cover IPO-related expenses.
Allotment and Listing
- Allotment Date: December 10, 2024.
- Listing Date: December 12, 2024, on NSE SME platform.
Investors can apply through ASBA or via stock brokers using UPI for a minimum lot size of 1,200 shares, amounting to ₹114,000.