Tue Dec 10 12:22:32 UTC 2024: ## Emerald Tyre Manufacturers IPO Oversubscribed 530 Times, Allotment Due Tuesday

**Mumbai, December 10, 2024** – The initial public offering (IPO) of Emerald Tyre Manufacturers Ltd., an NSE SME listing, concluded yesterday with phenomenal demand, exceeding expectations by a significant margin. The ₹49.26 crore IPO was subscribed a staggering 530.59 times, with investors applying for 181.53 crore shares against the 34.21 lakh shares on offer.

Retail investors fueled much of this demand, oversubscribing their quota by 558.11 times. Non-institutional investors (NIIs) were even more enthusiastic, subscribing 912.18 times their allotted portion. Qualified Institutional Buyers (QIBs) also showed strong interest, subscribing 195.95 times.

Allotment of shares is expected to be finalized today, December 10th. Investors can check their allotment status on the NSE website or through Link Intime India, the registrar for the IPO.

The IPO comprised a fresh issue of 49.86 lakh shares and an offer for sale of 1.99 lakh shares, priced between ₹90 and ₹95 per share. The grey market premium (GMP) currently stands at ₹95, suggesting a potential listing gain of 100% at a price of ₹190 per share. However, it’s crucial to remember that GMP is speculative and not an official price indicator. The company is expected to list on the NSE SME platform on Thursday, December 12th.

GYR Capital Advisors Pvt. acted as the sole book-running lead manager, and Giriraj Stock Broking served as the market maker. The company’s red herring prospectus detailed the allocation of shares to various investor categories.

**Disclaimer:** Investing in IPOs carries inherent market risks. Consult a financial advisor and carefully review the red herring prospectus before investing.

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