Emerald Tyre Sets to Launch IPO to Accelerate Global Expansion

Emerald Tyre Manufacturers Limited plans to raise Rs. 47.37 Crore through an IPO opening December 5, 2024, aiming to expand its global presence and diversify its product range. The company is a leading industrial tyre producer, known for innovative and high-quality solutions under its GRECKSTER brand.

Emerald Tyre Manufacturers Limited is poised to launch its Initial Public Offering (IPO) on December 5, 2024, seeking to gather Rs. 47.37 Crore through the issuance of 49,86,000 equity shares on the NSE Emerge platform. With a price band of Rs. 90 to Rs. 95 per share, the move aims to fund capital expenditure and corporate initiatives.

An allocation breakdown details: QIB Anchor Portion at 14,64,000 shares, Qualified Institutional Buyers at 9,76,800 shares, Non-Institutional Investors at 7,33,200 shares, Retail Individual Investors at 17,11,200 shares, and Market Makers at 3,00,000 shares. The anchor portion will briefly open on December 4.

Chairman Chandhrasekharan Thirupathi Venkatachalam emphasized the pivotal role of this IPO in Emerald Tyre's trajectory, highlighting the GRECKSTER brand's reputation for quality and innovation. GYR Capital Advisors will manage the issue, with expectations set for expanding global reach and enhancing product offerings, supported by Emerald's robust track record and customer loyalty.

(With inputs from agencies.)