Mon Dec 09 08:30:00 UTC 2024: ## Emerald Tyre Manufacturers IPO Oversubscribed by Over 100 Times

**Mumbai, December 7, 2024** – The initial public offering (IPO) of Emerald Tyre Manufacturers Ltd., a manufacturer and supplier of “GRECKSTER” brand tyres, has been massively oversubscribed. Opening on December 5th and closing on December 9th, the SME IPO, listed on the NSE SME, saw a total subscription rate exceeding 114.63 times by the second day.

Retail investors demonstrated particularly strong interest, with subscriptions reaching 170.05 times the available shares. Non-Institutional Investors (NIIs) also showed significant enthusiasm, subscribing 137 times. While Qualified Institutional Buyers (QIBs) participation is yet to be finalized, the overall response suggests a highly successful IPO.

The IPO, priced between ₹90 and ₹95 per share, aims to raise ₹49.26 crore through a combination of fresh issue and an offer-for-sale (OFS). A strong grey market premium (GMP) of ₹75 per share, indicating a market value significantly higher than the issue price, further highlights investor confidence.

The allotment is expected on December 10th, with a listing date anticipated for December 12th. GYR Capital Advisors serves as the book-running lead manager, and Link Intime India is the registrar. The minimum investment for retail investors is ₹114,000 (1200 shares). Investors are advised to consult with financial experts before making investment decisions.

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