Emerald Tyre Manufacturers IPO Rockets with 285.14x Subscription - Read Now
Emerald Tyre Manufacturers IPO gets 285.14x subscription on Day 3, with ₹75 GMP hinting at a ₹170 listing price. Retail and NII categories lead with over 370x bids. Learn about the IPO price band, allotment, and listing dates.
Emerald Tyre Manufacturers has made waves in the SME IPO market, recording an incredible 285.14x subscription on Day 3. Retail and non-institutional investors are flocking to this promising tyre manufacturer, cementing its status as one of the hottest IPOs in recent memory.
IPO Details: What You Need to Know
Emerald Tyre’s IPO combines:
- Fresh Issue: 49.86 lakh shares valued at ₹47.37 crore.
- Offer-for-Sale: 1.99 lakh shares worth ₹1.89 crore.
- Price Band: ₹90–₹95 per share.
- Minimum Investment: 1,200 shares per lot (₹1,14,000).
- Reservation Breakdown:
- Retail Investors: 33.00%
- Non-Institutional Buyers (NII): 14.14%
- QIBs: 18.84%
- Anchor Investors: 28.23%
Subscription Stats: Breaking Records
Investor categories subscribed heavily:
- Qualified Institutions: 37.80x.
- Non-Institutional Buyers: A staggering 411.40x.
- Retail Investors: 372.23x.
This unprecedented demand showcases investor confidence in the company’s future.
Grey Market Buzz: Premium Insights
With a GMP of ₹75, the IPO is expected to list at around ₹170, delivering an eye-popping 78.95% premium over its price band. The buzz in the grey market is undeniable and reflects optimism for listing-day fireworks.
Important Dates to Watch
- Allotment Announcement: December 10, 2024.
- Refunds Begin: December 11, 2024.
- Listing Date: December 12, 2024, on NSE SME.
Why Everyone’s Talking About Emerald Tyre
- Retail & NII Frenzy: With subscription levels exceeding 370x and 410x, the IPO has turned heads.
- Sky-High GMP: The ₹75 premium hints at significant listing gains.
- Sector Momentum: Operating in a high-demand industry, Emerald Tyre is poised for long-term success.
Why Emerald Tyre Stands Out
- Competitive Pricing: Retail-friendly price band of ₹90–₹95.
- Steady Sector Growth: Consistent demand in the tyre and auto sector offers stability.
- Market Enthusiasm: Record-breaking subscriptions and a high GMP signal a bright start.
Emerald Tyre’s IPO isn’t just a buzz—it’s a roaring success story in the making!
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