The scrip was listed at Rs 180.50, a premium of 90% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% compared to its listing price.

The counter hit a high of Rs 189.50 and a low of Rs 180.50. About 15.89 lakh shares of the company changed hands at the counter.

Emerald Tyre Manufacturers' IPO was subscribed 488.51 times. The issue opened for bidding on 5 December 2024 and it closed on 9 December 2024. The price band of the IPO was set at Rs 90 to Rs 95 per share.

The issue size comprised of fresh issue of 35,22,000 and offer for sale (OFS) of 1,99,200 shares. The company intends to utilize the net proceeds to meet capital expenditure, offer expenses and general corporate purpose.

Ahead of the Emerald Tyre Manufacturers on 4 December 2024, raised Rs 13.90 crore from anchor investors. The board allotted 14.64 lakh shares at Rs 95 per share to 5 anchor investors.

Emerald Tyre Manufacturers is primarily involved in the production, supply, and servicing of a wide range of tyres designed for material handling applications. These include tyres for forklifts, skid loaders, ground support equipment at airports, port trailers, agricultural implements, lawn and garden mowers, mining equipment, aerial work platform trucks, backhoe loaders, and more. Since its incorporation in 2002, the company has established a significant presence in both domestic and international markets, maintaining a strong position in the off-highway tyre manufacturing industry for over two decades. As of 31 July 2024, the company had 243 permanent and 277 contractual employees.

The company recorded revenue from operations of Rs 63.80 crore and net profit of Rs 4.13 crore for the period as on 31 July 2024.

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