Mon Dec 09 04:30:00 UTC 2024: ## Emerald Tyre Manufacturers to Launch ₹49 Crore IPO

**Chennai, India –** Emerald Tyre Manufacturers Limited, a tire manufacturer founded in 2002, announced its initial public offering (IPO) will open on December 5th, 2024, and close on December 9th. The company aims to raise approximately ₹49.26 crore (approximately $6 million USD) through a book-built issue.

The IPO comprises a fresh issue of ₹47.37 crore and an offer for sale of up to 199,200 equity shares at a price band of ₹90 to ₹95 per share. The allotment is scheduled for December 10th, with listing on the National Stock Exchange (NSE) on December 12th.

The company reported strong financial growth, with revenue increasing from ₹167.98 crore in 2023 to ₹171.97 crore in 2024, and profit rising from ₹8.93 crore to ₹12.24 crore during the same period. This positive trajectory is cited as a reason for long-term investment potential.

The minimum application amount is ₹114,000 for 1200 shares. The IPO’s allocation is divided as follows: 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high net worth individuals (HNIs).

Emerald Tyre Manufacturers exports its products globally, including to the UAE, Russia, USA, and several European countries. The company emphasizes its customer-focused approach and commitment to shareholder value. Further details regarding EPS, P/E ratio, RoNW, and NAV are available on the company’s website.

**Contact Information:**

* **Emerald Tyre Manufacturers Limited:** [email protected], 9043063194, https://emeraldtyres.com/about-emerald/
* **Link Intime India Private Ltd:** [email protected], +91-22-4918 6270, https://linkintime.co.in/initial_offer/public-issues.html

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