Thu Dec 05 14:53:35 UTC 2024: ## Emerald Tyre Manufacturers IPO Opens, Oversubscribed on Day One
**Mumbai, December 6, 2024** – Emerald Tyre Manufacturers Limited (ETML), a tire manufacturer founded in 2002, launched its initial public offering (IPO) today, aiming to raise ₹49.26 crores. The IPO, priced between ₹90 and ₹95 per share, is open until December 9th and is listed on the National Stock Exchange (NSE).
The IPO has already seen significant interest, with reports indicating an oversubscription of over 43.60x on its first day. The offer comprises a 35% retail quota, 50% for qualified institutional buyers (QIBs), and 15% for non-institutional investors (NIIs). The minimum application amount is ₹114,000 for 1,200 shares.
ETML manufactures, supplies, and services a wide range of tires, offering complete off-highway tire and wheel solutions. The company boasts a global presence, exporting products to countries including the USA, Russia, and several European nations.
Investors interested in participating can apply through their bank’s ASBA facility or by downloading and submitting physical IPO forms. While the company emphasizes a long-term investment perspective, potential investors are advised to carefully review the subscription status across QIB, NII, and retail categories before making a decision.
First Piper 