Emerald Tyre Manufacturers IPO allotment today; steps to check …

Tue Dec 10 09:03:40 UTC 2024: ## Emerald Tyre Manufacturers IPO Oversubscribed by 530 Times, Expected to List at ₹190

**MUMBAI, December 10, 2024** – The initial public offering (IPO) of Emerald Tyre Manufacturers Limited concluded yesterday with phenomenal success, achieving an oversubscription rate of 530.59 times. Investors applied for a staggering 1.81 billion shares against the 3.42 million shares on offer. The strong demand was particularly evident among retail and non-institutional investors.

Retail investors alone oversubscribed their allocation by 558.11 times, while non-institutional investors (NIIs) oversubscribed by 912.18 times. Even qualified institutional buyers (QIBs) showed significant interest, oversubscribing their portion by 195.95 times.

Share allotment is expected to be finalized today, December 10th. Investors can check their allotment status through the IPO registrar, Link Intime India Private Ltd., or the BSE website. Refunds will begin on December 11th, with shares credited to Demat accounts on the same day. The company is slated to list on December 12th.

The ₹49.26 crore IPO comprised a fresh issue of ₹47.37 crore and an offer for sale of ₹1.89 crore, with shares offered in the price band of ₹90 to ₹95. The grey market premium (GMP) currently stands at ₹95, suggesting a potential listing price of ₹190 per share and a potential 100% listing gain.

Emerald Tyre Manufacturers Limited, established in 2002, is a major player in the off-highway tire and wheel services sector, exporting globally to markets including the UAE, Russia, the US, and several European countries. The company has reported strong financial growth in recent years.

GYR Capital Advisors Pvt. Ltd. acted as the sole book-running lead manager, with Giriraj Stock Broking serving as the market maker. Link Intime India Pvt. Ltd. managed the allotment process.

**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice. Consult with a financial advisor before making any investment decisions.