Emerald Tyre Manufacturers is set to list its shares today, December 12, following the finalization of share allotments on December 10. Investors who bid for the IPO would have received updates regarding fund debits or mandate revocations by December 11. The SME IPO from the Chennai-based tyre maker witnessed an overwhelming response during its three-day subscription period from December 5 to 9.
IPO Highlights:
- Price Band: ₹90-95 per share
- Lot Size: 1,200 shares
- Total Issue Size: ₹49.26 crore
- Fresh issue: 49.86 lakh shares worth ₹47.37 crore
- Offer-for-sale (OFS): 1,99,200 shares
- Subscription Details:
- Overall Subscription: 530.59 times
- Non-Institutional Investors (NII): 912.18 times
- Retail Investors: 558.11 times
- Qualified Institutional Bidders (QIBs): 195.95 times
Grey Market Premium (GMP) Update:
As of the morning ahead of the listing, the IPO’s Grey Market Premium (GMP) stood at ₹85, indicating an estimated listing price of around ₹180 per share, which reflects an 89.47% premium over the upper price band of ₹95.
