Mumbai, December 11: Emerald Tyres IPO opened for subscription on December 6 and was to be finalised on Tuesday. The tyre manufacturing company was to debut on the NSE SME platform based on the shares. The IPO of the Chennai-based SME ran from December 5 to December 9 and gained notable attention from investors. Check Emerald Tyres IPO Allotment Status, GMP listing date, and other key details on the NSE SME issue.

Emerald Tyres' IPO, worth INR 49.26 crore, consisted of a fresh issue of INR 47.37 crore and an OFS (Offer for Sale) of INR 1.89 crore. The initial public offering by Emerald Tyre Manufacturers Ltd. included a price band between INR 90 and INR 95 per share. The company kept 1,200 shares as the minimum lot size. The retail applicants were required to invest INR 1,14,000. MobiKwik IPO Opens Today: Check GMP, Price Band and Other Key Details.

Emerald Tyre IPO Allotment, GMP and Subscription

In the grey market, the Emerald Tyre shares commanded a premium of INR 85 three days prior to subscription. Following that, the estimated listing price is INR 275. This means the company gained 52.78% over the issued price. From December 5 to December 9, the Emerald Tyre Manufacturing IPO witnessed unbelievable enthusiasm from investors. The Emerald Tyre IPO Allotment was finalised on December 10, 2024 (Tuesday). The Emerald Tyre listing is all set for Tomorrow, i.e. December 12, 2024, on the NSE SME Exchange.

Emerald Tyre IPO Subscription 

Emerald Tyre IPO was subscribed significantly higher 530.59 times due to a massive demand surge among investors. The retail investors applied for 95.5 crore shares; however, the available shares were only 17.1 lakh. The subscription rate for this initial public offering ended at 558.11 times. The applications for 66.8 crore shares were from NIIs (Non-Institutional Investors), who subscribed to the quote 912.18 times. On the other hand, the QIBs (Qualified Institutional Buyers) subscription was recorded 195.95 times in bid for 19.1 crore shares compared to 9.7 lakh shares allocated. ITI Share Price Today, December 11: ITI Stock Price Plunges 6.41% Day After Hitting All-Time High.

Emerald Tyre Manufacturers Ltd. is known for its off-road tyre wheel solutions. Established in 2002, it later became one of the emerging global manufacturers and suppliers in the industrial tyres segment.

(The above story first appeared on LatestLY on Dec 11, 2024 12:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).