Emerald Tyre Manufacturers is scheduled to finalize the basis of allotment of its shares on Tuesday, December 10. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Wednesday, December 11. The tyre maker's SME IPO saw a bumper response from the investors during the three-day bidding.
The IPO of Chennai-based Emerald Tyre Manufacturers was open for bidding between December 5-9. It had offered its shares in the price band of Rs 90-95 per share with a lot size of 1,200 shares. The company raised a total of Rs 49.26 crore from its IPO, which included a fresh share sale of 49.86 lakh shares worth Rs 47.37 crore and offer-for-sale (OFS) of up to 1,99,200 shares.
The issue was overall subscribed a whopping 530.59 times, thanks to the strong interest from non-institutional investors (NIIs)and retail investors, whose quotas were subscribed about 912.18 times and 558.11 times, respectively. The portion allocated for qualified-institutional bidders (QIBs) was booked 195.95 times.
Grey market premium (GMP) of Emerald Tyre Manufacturers has seen a sharp rise following a bumped response from the investors. Last heard, the company was commanding a premium of Rs 95 in the unofficial market, suggesting a listing pop of 100 per cent for the investors, making it another SME multibagger. The GMP stood at Rs 75 a day ago.
Incorporated in 2002, Emerald Tyre Manufacturers specializes in manufacturing, supplying, and servicing a wide range of tyres. The company offers its products under the brand name 'GRECKSTER'. Emerald Tyre products are solid resilient tyres, press bands, industrial pneumatic tyres, butyl tubes & laps and wheel rims.
GYR Capital Advisors is sole the book running lead manager of the Emerald Tyre Manufacturers IPO, while Link Intime India is the registrar for the issue. The market maker for Emerald Tyre Manufacturers IPO is Giriraj Stock Broking. Shares of the company shall be listed on NSE's emerge platform on Thursday, December 12.
Investors, who had bid for the issue of Emerald Tyre Manufacturers , can check the allotment status on the National Stock Exchange (NSE) website:
1) Visit https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2) Sign up with all the requisite details if you are not registered already.
3) Log in with your username and password.
4) Check I am not a robot.
5) Ensure IPO bid details column is checked.
6) Select the symbol/company in the dropdown.
7) Check your PAN number and enter your application number.
8) Hit the 'get data' button and get your allotment status.
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.