Emerald Tyre IPO Allotment Today: Steps to Check Status & Huge 100% Grey Market Listing Gain Expected
The share allotment for Emerald Tyre Manufacturers Limited’s initial public offering (IPO) is expected to be finalized today, December 10, 2024. The IPO, which closed for bidding yesterday, received a massive response, especially from non-institutional investors.
The IPO was subscribed an extraordinary 530.59 times, with investors bidding for 1.81 billion shares compared to the 3.42 million shares available. Retail investors showed strong interest, applying for 955 million shares against their reserved 1.71 million shares, resulting in an oversubscription of 558.11 times. Non-Institutional Investors (NIIs) bid for 668.8 million shares, oversubscribing their 733,200-share quota by 912.18 times. Meanwhile, Qualified Institutional Buyers (QIBs) applied for 191.4 million shares, oversubscribing their 976,800 shares by 195.95 times.
How to Check Emerald Tyre IPO Allotment Status
Investors can check the allotment status using one of the following methods:
Through Link Intime Website
- Visit the Link Intime website.
- Select “Emerald Tyre Manufacturers” from the dropdown menu.
- Choose how you want to identify yourself – PAN number, application number, or DP/Client ID.
- Enter your details and click “Search” to view the status.
Through BSE Website
- Go to the BSE website.
- Select “Equity” under the Issue Type category.
- Choose “Emerald Tyre Manufacturers Limited” from the options.
- Enter your application number or PAN.
- Complete the captcha and click “Submit” to check the allotment.
Through Your Demat Account
- Log in to your Demat or trading account.
- Check if the shares are credited. If they are, it means the allotment is successful.
Through Your Bank Account
- Log in to the bank account used for the IPO application.
- Check the transaction history for debits or refunds related to the IPO. A debit matching the application amount means shares have been allotted.
Grey Market Premium (GMP) Update
As of December 10, the grey market premium (GMP) for Emerald Tyre Manufacturers IPO is ₹95. This indicates a strong demand, with the potential for a 100% listing gain. The expected listing price is ₹190 per share.
Emerald Tyre IPO Details
The ₹49.26 crore IPO included a fresh issue of 4.986 million shares worth ₹47.37 crore and an offer for sale of 199,000 shares valued at ₹1.89 crore. Shares were priced in the ₹90–₹95 range. The IPO allotment is managed by Link Intime India Pvt. Ltd., while GYR Capital Advisors Pvt. Ltd. served as the sole book-running lead manager.
Key Dates:
- Opening date: December 5, 2024
- Closing date: December 9, 2024
- Allotment date: December 10, 2024
- Refunds begin: December 11, 2024
- Demat account credit: December 11, 2024
- Listing date: December 12, 2024
About Emerald Tyre Manufacturers
Founded in 2002, Emerald Tyre Manufacturers specializes in off-highway tire and wheel services. The company exports its products to regions like the UAE, Russia, the US, and Europe, with key markets in Belgium, Germany, Portugal, and Italy.
The company has shown impressive financial growth. Revenue grew from ₹13,469.67 lakh in 2022 to ₹17,196.84 lakh in 2024. Profit after tax (PAT) increased by 37.04% between FY 2023 and FY 2024, showcasing the company’s solid performance.
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