Emerald Tyre Manufacturers witnessed a strong debut on the NSE SME platform, with its shares trading at Rs 189.50, a premium of 99.47% over its issue price of Rs 95. The stock was listed at Rs 180.50, marking a 90% premium, and is currently frozen at its upper limit of 5% compared to the listing price.
The scrip recorded a high of Rs 189.50 and a low of Rs 180.50 during the trading session, with approximately 15.89 lakh shares changing hands. The IPO, which was open for bidding from 5 December to 9 December 2024, garnered an overwhelming subscription of 488.51 times, underscoring strong investor demand.
Emerald Tyre Manufacturers raised Rs 13.90 crore from anchor investors ahead of the IPO, allocating 14.64 lakh shares at Rs 95 per share to five anchor investors. The issue comprised a fresh issuance of 35.22 lakh shares and an offer for sale of 1.99 lakh shares. Proceeds from the IPO will be utilized for capital expenditure, offer-related expenses, and general corporate purposes.
Established in 2002, Emerald Tyre Manufacturers specializes in producing and servicing a diverse range of tyres for material handling applications, including equipment for airports, ports, agriculture, mining, and construction. The company has a strong presence in both domestic and international markets, supported by its extensive product portfolio and expertise in the off-highway tyre industry. For the period ending 31 July 2024, the company reported revenue of Rs 63.80 crore and a net profit of Rs 4.13 crore.
