Emerald Tyre Manufacturers Limited, a prominent player in the industrial tyres sector, is ready to launch its IPO, opening today with a price band of ₹90 to ₹95 per share. The IPO, which includes both a fresh issue and an offer for sale, has already gained considerable attention, as it is subscribed 29.94 times on the first day of subscription. This indicates a strong demand for the shares and could signal potential listing gains for investors. The IPO's grey market premium (GMP) has also been encouraging, with a projected premium of ₹42, reflecting a 44.38% gain from the upper price band. However, it’s important to remember that trading in the grey market doesn’t provide accurate price discovery and carries its risks.

Emerald Tyre Manufacturers is an established name in the industrial tyres segment, providing comprehensive solutions in tyre-wheel applications. The company’s financials are robust, with increasing revenues and profits in recent years. For the fiscal year 2024, the company posted consolidated revenues of ₹6,492.75 lakhs, and the profit after tax stood at ₹413.64 lakhs. The pre-issue earnings per share (EPS) is ₹8.64, which drops to ₹6.23 post-issue, giving a post-issue price-to-earnings (P/E) ratio of 15.24x. This suggests a reasonably priced offering with potential for growth, backed by a solid market presence and customer base.

The IPO proceeds will be used for capital expenditure, general corporate purposes, and to meet offer expenses. Retail investors can apply for a minimum of ₹1,14,000 for one lot of 1,200 shares, while HNIs are required to apply for two lots at ₹2,28,000. The issue’s anchor investors, including institutional players, have committed ₹13.90 crore at the ₹95 per share price, which further demonstrates confidence in the company’s growth prospects. Emerald Tyre Manufacturers is set for a listing on the NSE SME platform on December 12, 2024, providing investors with an exciting opportunity to participate in its journey.

The Upcoming IPOs in this week and coming weeks are Dhanlaxmi Corp, Jungle Camps, Toss The Coin, Purple United, Rosmerta Digital and Avanse Financial.

The Current active IPO is Nisus Finance and Emerald Tyre Manufacturers.

For those interested in applying to the IPO, the allotment date is set for December 10, 2024. Check your status online and stay updated with the latest news from the stock market.

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