SME IPO update: GMP of Emerald Tyres, Nisus Finance reaches up to 70%; check subscription, listing details

Mon Dec 09 08:30:00 UTC 2024: ## Emerald Tyres and Nisus Finance IPOs Surge on High Grey Market Premium

**MUMBAI, INDIA – December 7, 2023** – The initial public offerings (IPOs) of Emerald Tyre Manufacturers and Nisus Finance Services are generating significant excitement, with grey market premiums (GMPs) soaring to 79% and 45% respectively, indicating strong investor interest.

Emerald Tyres, a Tamil Nadu-based manufacturer of material handling tyres, saw its IPO oversubscribed 72 times on its second day. The company, which aims to raise Rs 13.91 crore, has a price band of Rs 90-95 per share and is expected to list on December 12th. The high GMP of approximately Rs 75 reflects investor confidence.

Nisus Finance Services, offering financial services including transaction advisory and fund management, also witnessed robust investor response, with its IPO oversubscribed nearly 55 times by the final day of bidding (December 6th). The company aims to raise Rs 114.2 crore with a price band of Rs 170-180 per share and is slated to list on December 11th. Its GMP is currently around 45%.

While GMPs offer a glimpse into market sentiment, investors are cautioned that these are unofficial indicators, and the actual listing price may differ. Experts advise seeking professional financial advice before making any investment decisions. Further updates on the IPOs and broader market trends are available on Moneycontrol.com and its app.