Tue Dec 10 07:50:47 UTC 2024: ## Emerald Tyre Manufacturers IPO Oversubscribed 530 Times, Allotment Due Tuesday

**Mumbai, Dec. 10, 2024** – The initial public offering (IPO) of Emerald Tyre Manufacturers Ltd., an SME issue on the NSE, closed yesterday with an overwhelming response, exceeding expectations by a significant margin. The IPO was subscribed a staggering 530.59 times, with investors clamoring for shares.

Retail investors were particularly enthusiastic, subscribing 558.11 times their allotted quota. Non-institutional investors (NIIs) displayed even stronger interest, oversubscribing their portion by 912.18 times. Qualified Institutional Buyers (QIBs) also participated robustly, with a subscription rate of 195.95 times.

The ₹49.26 crore IPO, comprising a fresh issue of ₹47.37 crore and an offer for sale of ₹1.89 crore, was priced between ₹90 and ₹95 per share. The massive oversubscription points to strong investor confidence in the company.

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 grey market premium (GMP) currently stands at ₹95, suggesting a potential listing gain of 100% and a listing price of ₹190. However, it’s crucial to remember that GMP is speculative and not an official price indicator.

Emerald Tyre Manufacturers IPO is slated to list on the NSE SME platform on Thursday, December 12th. Potential investors are advised to consult with financial advisors and carefully review the red herring prospectus before making any investment decisions. Investments in IPOs carry inherent market risks.

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