What is the size of the IPO, Subscription and Listing Details?
Reportedly the Initial Public Offer (IPO) of Emerald Tyre Manufacturers, a leading indian tire manufacturing company, is getting tremendous response. By 1:23 pm on Monday, 9 december 2024, the issue was subscribed 285.14 times. Retail investors and non-institutional buyers have shown special interest in the IPO.
Perhaps this IPO opened on 5 december and the subscription window closed on 9 December. Talking about the allotment date, it is 10 december 2024. At the same time, the listing date can be 12 december 2024. Talking about the listing platforms, it is NSE SME. At the same time, the price band of this issue has been fixed at Rs 90-95. One can apply for a minimum lot of 1,200 shares, which will be valued at Rs 1,12,000.
Moreover the grey market premium (GMP) of Emerald Tire Manufacturers IPO remains a special attraction for investors. Currently the GMP is Rs 95, which is equal to the upper price band of the issue. That is, if the listing happens at the current GMP, then investors can make a profit of 100% on the very first day, that is, their investment will double directly. This IPO has been introduced with a fresh issue of a total of 49.86 lakh shares, worth Rs 47.37 crore. Also, an offer for sale (OFS) of 1.99 lakh shares is also included, worth Rs 1.89 crore. The amount raised from the IPO will be used to meet capital expenditure and meet general corporate requirements.