Emerald Tyre Manufacturers IPO: Steps to check share allotment status and other key details

Tyre maker Emerald Tyre Manufacturers Limited is expected to announce the IPO share allotment status on Tuesday, December 10, following its successful initial public offering.

The IPO of the Tamil Nadu-based off-the-highway tyre manufacturer closed for bidding on Monday, December 9. The issue was booked 531 times, driven by strong bidding by retail as well as non-retail investors.

IPO investors are now awaiting the finalisation of the share allotment status by the company. The allotment status can be easily tracked on the website of IPO registrar and on NSE.

IPO investors can follow these easy steps to check the share allotment status on the websites of the NSE and issue registrar, Link Intime India.

How to check Emerald Tyre Manufacturers Ltd IPO share allotment on IPO registrar website

• Go to Link Intime India Pvt Ltd website (https://www.linkintime.co.in )
• Click on ‘Investor Services’ on main menu and select ‘Public Issues’
• Select Emerald Tyre Manufacturers Limited from the list of company names
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Click on the ‘Submit’ button to check allotment status

Steps to check Emerald Tyre Manufacturers Ltd share allotment on NSE website

• Open the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to create Login & Password)
• Select Emerald Tyre Manufacturers Ltd
• Verify PAN details
• Enter IPO application number
• Click on ‘Submit’

The IPO allotment status can only be checked online after the company completes the share allocation process.

Emerald Tyre Manufacturers will initiate refunds on December 10, while the shares will be transferred to the Demat accounts of the allottees on December 11. The IPO listing has been scheduled for December 12. Shares of Emerald Tyre Manufacturers Limited will be listed on the NSE SME platform, Emerge.

Emerald Tyre Manufacturers IPO booked nearly 531 times

Emerald Tyre Manufacturers IPO was subscribed nearly 531 times at the close of bidding on Monday, according to the NSE data.

Applications for 181.78 crore shares were received in the three-day bidding against 34.21 lakh shares on offer for investors.

Among investor categories, the Qualified Institutional Buyers’ (QIBs) portion was booked 196 times. The QIBs place bids for 19.14 crore shares against 9.76 lakh shares reserved for them. The Non-Institutional Investors (NIIs) placed bids for 66.94 crore shares against 7.33 lakh shares set aside for the category. The NIIs’ portion was booked a whopping nearly 913 times.

The retail category received bids for 95.7 crore shares against 17.11 lakh shares on offer. The retail portion was booked 559 times.

Emerald Tyre Manufacturers IPO details

Ahead of the launch of the IPO, the company raised ₹13.91 crore from anchor investors. The company allotted 14,64,000 shares to five fund schemes at a price of ₹95 per share.

The ₹49.26-crore book-building issue of Emerald Tyre Manufacturers comprised was a combination of a fresh issuance of 49,86,000 shares and an offer-for-sale of 1,99,200 shares.

Non-promoters S Vijayalakshmi and Karthikeyan offloaded shares through the OFS route.

The issue opened for subscription on Thursday, December 5. The IPO price band was fixed at ₹90-₹95 per share. The minimum lot size for an application was 1,200 shares, taking the minimum investment size to ₹114,000, for retail investors.

GYR Capital Advisors Pvt Ltd is the lead book-running manager. Link Intime India is the IPO registrar.

The company has proposed to utilise IPO proceeds mainly for meeting capital expenditure requirements.

About Emerald Tyre Manufacturers

Emerald Tyre Manufacturers Limited produces off-the-highway range of tyres, which are used in material handling applications like skid loaders, port trailers, forklifts, lawn and garden mowers, airport ground support equipment, backhoe loaders, mining equipment and aerial work platform trucks.

The company has a manufacturing unit with an installed capacity of 10,560 megatonnes (MT) of tyres, tubes and wheels.