IPO Details
Bidding Dates
05 Dec '24 - 09 Dec '24
Minimum Investment
₹1,14,000
Price Range
₹90 - ₹95
Maximum Investment
₹1,14,000
Retail Discount
Not Applicable
Issue Size
₹49.26 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible Employees |Emerald Tyre Manufacturers IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Dec 5, 2024
IPO Closing Date
Dec 9, 2024
Basis of Allotment
Dec 10, 2024
Initiation of Refunds
Dec 11, 2024
Listing Date
Dec 12, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Dec 5, 2024 |
0.52 | 43.42 | 70.09 | 44.51 |
Day 2Dec 6, 2024 |
0.52 | 62.96 | 95.00 | 61.16 |
About Emerald Tyre Manufacturers IPO
Emerald Tyre Manufacturers IPO is a book-built issue raising ₹49.26 crore. Emerald Tyre Manufacturers IPO consists of a fresh issue of 49.86 lakh shares worth ₹47.37 crore and an offer for sale of 1.99 lakh shares amounting to ₹1.89 crores. The IPO opened for subscription on December 5, 2024, and will close on December 9, 2024. The allotment is expected on December 10, 2024, with listing anticipated on December 12, 2024, on the NSE SME platform.
Emerald Tyre Manufacturers IPO price band is set between ₹90 and ₹95 per share, with a minimum application size of 1,200 shares. Retail investors require a minimum investment of ₹1,14,000, while high-net-worth individuals need to invest in at least two lots worth ₹2,28,000.
GYR Capital Advisors Private Limited is the book-running lead manager, and Link Intime India Private Ltd is the registrar for the issue. The market maker is Giriraj Stock Broking. On its opening day, the IPO saw 44.51 times overall subscription, with strong retail and non-institutional investor interest. Anchor investors were offered 14.64 lakh shares for ₹13.91 crores on December 4, 2024.
Industry Outlook
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The Indian tyre market, valued at $13.11 billion in FY2023, is projected to reach $25.50 billion by FY2031, growing at an 8.71% CAGR.
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Over 16,000 luxury vehicles were sold in India in H1 2022, marking a 55% increase from 2021, boosting demand for premium tyres.
Emerald Tyre Manufacturers IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
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To meet out the Capital Expenditure.
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To meet General Corporate Purposes.
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To meet out Offer Expenses.
About Emerald Tyre Manufacturers Limited
Incorporated in 2002, Emerald Tyre Manufacturers specialises in manufacturing, supplying, and servicing a diverse range of tyres under the brand name "GRECKSTER." The company's product portfolio includes solid resilient tyres, press bands, industrial pneumatic tyres, butyl tubes and flaps, and wheel rims.
Emerald Tyre Manufacturers exports its products to global markets, including the USA, UAE, Russia, and key European countries such as Belgium, Germany, Netherlands, Hungary, Portugal, Italy, Denmark, and Poland, alongside the UK. The company operates warehouses in Belgium, the UAE, and the USA, ensuring timely delivery and value-added services to customers across Europe, the Middle East, and North America.
As of 31st March 2024, the company employed 224 permanent staff and 191 contractual employees, reflecting its strong operational capabilities. Emerald Tyre Manufacturers remains committed to delivering quality products and expanding its footprint in international markets.
How To Check the Allotment Status of the Emerald Tyre Manufacturers IPO?
A: Steps to check IPO allotment status on Angel One’s app:
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Log in to the Angel One app.
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Go to the IPO Section and then to IPO Orders.
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Select the individual IPO that you had applied for and check the allotment status.
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Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for Emerald Tyre Manufacturers IPO online?
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Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
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Locate the IPO Section: Navigate to the 'IPO' section on the platform.
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Select IPO: Find and select the Emerald Tyre Manufacturers IPO from the list of open IPOs.
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Enter the Lot Size: Specify the number of lots you want to bid for.
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Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
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Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Emerald Tyre Manufacturers IPO
Registered office: Emerald House, Plot No.2, Second Street Porur Gardens, Phase-I, Vanagaram, Tiruvallur, Poonamallee, Tamil Nadu-600095, India
Phone: +91 9043063194
E-mail: cosec@emeraldtyres.com
Emerald Tyre Manufacturers IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares Offered |
14,64,000 (28.23%) |
|
Market Maker Shares Offered |
3,00,000 (5.79%) |
|
QIB Shares Offered |
9,76,800 (18.84%) |
|
NII (HNI) Shares Offered |
7,33,200 (14.14%) |
|
Retail Shares Offered |
17,11,200 (33%) |
Emerald Tyre Manufacturers IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1,200 |
₹1,14,000 |
|
Retail (Max) |
1 |
1,200 |
₹1,14,000 |
|
HNI (Min) |
2 |
2,400 |
₹2,28,000 |
Emerald Tyre Manufacturers IPO Anchor Investors Details
Emerald Tyre Manufacturers secured ₹13.91 crore through its anchor investor allocation. The anchor bidding for the IPO took place on December 4, 2024.
|
Bid Date |
December 4, 2024 |
|
Shares Offered |
1,464,000 |
|
Anchor Portion Size (In ₹ crore) |
13.91 |
|
Anchor lock-in period end date (30 Days) |
January 9, 2025 |
|
Anchor lock-in period end date (90 Days) |
March 10, 2025 |
Emerald Tyre Manufacturers IPO Promoter Holding
The promoter of the company is Chandhrasekharan Trirupathi Venkatachalam
|
Share Holding Pre-Issue |
67.62% |
|
Share Holding Post Issue |
Key Performance Indicators for Emerald Tyre Manufacturers IPO
As of July 31, 2024, the market capitalisation of Emerald Tyre Manufacturers stands at ₹185.03 crore. Here are the KPIs of Emerald Tyre Manufacturers as of July 31, 2024.
|
KPI |
Value |
|
ROCE |
15.84% |
|
Debt/Equity |
1.61 |
|
RoNW |
22.63% |
|
P/BV |
2.55 |
|
PAT Margin (%) |
7.16 |
Emerald Tyre Manufacturers IPO Subscription Details (Times)
|
Date |
QIB |
NII* |
Retail |
Total |
|
Day 1 Dec 5, 2024 |
0.52 |
43.42 |
70.09 |
44.51 |
|
Day 2 Dec 6, 2024 |
0.52 |
62.96 |
95.00 |
61.16 |
Emerald Tyre Manufacturers IPO Prospectus
Emerald Tyre Manufacturers IPO Registrar and Lead Managers
Emerald Tyre Manufacturers IPO Lead Managers
GYR Capital Advisors Private Limited
Registrar for Emerald Tyre Manufacturers IPO
Link Intime India Private Ltd
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Contact Number: +91-22-4918 6270
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Email Address: emerald.ipo@linkintime.co.in
Website: Emerald Tyre Manufacturers IPO Registrar
Financial Performance of Emerald Tyre Manufacturers Limited
| Particulars | As on July 31, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh ) | 6,380.33 | 17,098.74 | 13,364.26 |
| Profit After Tax (PAT) (in ₹ lakh) | 413.64 | 1,214.32 | 484.62 |
| Total Borrowings (in ₹ lakh) | 8,750.18 | 8,718.28 | 7,504.59 |
| Net Worth (in ₹ lakh) | 5,813.80 | 5,397.59 | 2,897.44 |
| Return on Capital Employed (%) | 5.90% | 17.62% | 11.45% |
| Return on Net Worth (%) | 7.11% | 22.50% | 16.73% |
| Debt/ Equity (x) | 1.51 | 1.62 | 2.59 |
| Earning Per Share (EPS)-in absolute ₹ | 2.85 | 8.64 | 3.79 |
Know before investing
Strengths
10-
Experienced management led by a director with 20+ years' expertise.
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Manufacturing facility produces diverse Off Highway Tyres under one roof.
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Offers 122+ tyre sizes tailored for OEM and customer needs.
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Exports to global markets, including USA, UAE, and Europe.
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Comprehensive R&D drives product innovation and technological upgrades.
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Subsidiaries in Belgium and UAE ensure global supply efficiency.
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Strong after-sales network fosters customer satisfaction and brand loyalty.
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Bacucot technology enhances tyre lifespan and reduces heat buildup.
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Integrated tyre testing facility simulates real-world usage conditions effectively.
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ISO 9001-2015, ISO 14001-2015 certified for quality assurance.
Risks
10-
Raw material costs of ₹10,278.50 lakhs in FY2023 highly volatile.
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Top 10 clients contribute 65.45% revenue, increasing client concentration risk.
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Heavy reliance on top 10 suppliers for 81.51% materials.
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Delays in statutory filings may lead to regulatory penalties.
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Negative cash flows reported in past years, affecting financial stability.
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₹8,750.18 lakhs debt poses repayment and covenant compliance challenges.
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Industrial accidents and fire risks threaten manufacturing continuity.
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Dependency on subsidiaries exposes operational and revenue-related vulnerabilities.
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Intense competition pressures market share, margins, and profitability.
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₹2,071.04 lakhs unsecured loans recallable, creating liquidity challenges.
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Emerald Tyre Manufacturers Limited Peer Details Comparison
| Company Name | EPS (Basic) (₹) | EPS (Diluted) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Emerald Tyre Manufacturers Ltd. | 8.44 | 8.44 | 11.25 | 22.63 |
| Balkrishna Industries Ltd. | 76.12 | 76.12 | 30.44 | 16.62 |
| TVS Srichakra Ltd. | 140.98 | 140.98 | 27.72 | 9.79 |
Emerald Tyre Manufacturers IPO FAQs
Emerald Tyre Manufacturers IPO is a book built issue IPO. It will be open from December 5, 2024, to December 9, 2024.
The Basis of Allotment will happen on Tuesday, December 10, 2024.
The IPO subscription window will open on December 5, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,200 shares.
The listing date for Emerald Tyre Manufacturers Limited is Thursday, December 12, 2024.
The issue size of the Emerald Tyre Manufacturers IPO is up to ₹49.26 crore, with a fresh issue of ₹47.37 crore and an offer for sale of ₹1.89 crore.
The open and close dates for Emerald Tyre Manufacturers IPO are from December 5, 2024 to December 9, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Emerald Tyre Manufacturers’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Emerald Tyre Manufacturers IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Link Intime India Private Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.
Emerald Tyre Manufacturers Limited IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
