Emerald Tyre Manufacturers IPO: Check price band, issue details, lot size, key dates and more

Emerald Tyre Manufacturers IPO will open for subscription on Thursday, December 5. The issue, which has fixed a price band of ₹90-₹95 per share, will conclude on Monday, December 9.

The ₹49.26 crore initial share sale is a combination of 47.37 crore worth of fresh issuance of shares and an offer-for-sale valued at ₹1.89 crore. In the OFS, non-promoters S Vijayalakshmi and Karthikeyan will offload their shares.

The funds raised will be utilised to meet capital expenditure requirements, general corporate purposes, and offer expenses.

Emerald Tyre Manufacturers IPO: Lot size

The minimum application size is one lot, consisting of 1200 shares, taking the transaction size to ₹114,000. High-net-worth individuals can bid for two lots valued at ₹228,000.

Emerald Tyre Manufacturers IPO: Allotment and listing date

After the bidding period ends, the Emerald Tyre Manufacturers IPO allotment is expected to be finalised on Tuesday, December 10. The listing on the NSE SME platform, Emerge, will take place on Thursday, December 12.

GYR Capital Advisors Pvt Ltd is the lead book-running manager of the issue, while Link Intime India is the registrar.

About the company

Established in 2002, Emerald Tyre Manufacturers is into production of an off-the-highway range of tyres used for material handling applications such as skid loaders, forklifts, port trailers, airport ground support equipment, lawn and garden mowers, agri implements, mining equipment, backhoe loaders and aerial work platform trucks.

The Tamil Nadu-based company has a manufacturing unit spread over 10.05 acres and an installed production capacity of 10560 megatonnes (MT) of tyres, tubes, and wheels.