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Tolins Tyres IPO is a book built issue of Rs 230.00 crores. The issue is a combination of fresh issue of 0.88 crore shares aggregating to Rs 200.00 crores and offer for sale of 0.13 crore shares aggregating to Rs 30.00 crores.
Tolins Tyres IPO bidding started from September 9, 2024 and ended on September 11, 2024. The allotment for Tolins Tyres IPO was finalized on Thursday, September 12, 2024. Tolins Tyres IPO will be listed on BSE, NSE on September 16, 2024.
Tolins Tyres IPO price band is set at ₹215 to ₹226 per share. The minimum lot size for an application is 66 Shares. The minimum amount of investment required by retail investors is ₹14,916. The minimum lot size investment for sNII is 14 lots (924 shares), amounting to ₹208,824, and for bNII, it is 68 lots (4,488 shares), amounting to ₹1,014,288.
Saffron Capital Advisors Private Limited is the book running lead manager of the Tolins Tyres IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Refer to Tolins Tyres IPO RHP for detailed information.
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹215 to ₹226 per share |
| Lot Size | 66 Shares |
| Total Issue Size | 10,176,992 shares (aggregating up to ₹230.00 Cr) |
| Fresh Issue | 8,849,558 shares (aggregating up to ₹200.00 Cr) |
| Offer for Sale | 1,327,434 shares of ₹5 (aggregating up to ₹30.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,659,272 |
| Share holding post issue | 39,508,830 |
Tolins Tyres IPO offers 1,01,76,991 shares. 20,35,398 (20%) to QIB, 15,26,549 (15%) to NII, 35,61,947 (35%) to RII and 30,53,097 (30%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 30,53,097 (30%) | NA |
| QIB Shares Offered | 20,35,398 (20%) | NA |
| NII (HNI) Shares Offered | 15,26,549 (15%) | |
| bNII > ₹10L | 10,17,699 (10%) | 1,101 |
| sNII < ₹10L | 5,08,850 (5%) | 550 |
| Retail Shares Offered | 35,61,947 (35%) | 53,968 |
| Total Shares Offered | 1,01,76,991 (100%) |
Tolins Tyres IPO raises Rs 69.00 crore from anchor investors. Tolins Tyres IPO Anchor bid date is September 6, 2024. Tolins Tyres IPO Anchor Investors list
| Bid Date | September 6, 2024 |
| Shares Offered | 3,053,097 |
| Anchor Portion Size (In Cr.) | 69.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 11, 2024 |
Tolins Tyres IPO opens on September 9, 2024, and closes on September 11, 2024.
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Investors can bid for a minimum of 66 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 66 | ₹14,916 |
| Retail (Max) | 13 | 858 | ₹193,908 |
| S-HNI (Min) | 14 | 924 | ₹208,824 |
| S-HNI (Max) | 67 | 4,422 | ₹999,372 |
| B-HNI (Min) | 68 | 4,488 | ₹1,014,288 |
| Lot Size Calculator | |||
The Promoters of the company are Kalamparambil Varkey Tolin and Jerin Tolin.
| Share Holding Pre Issue | 92.64% |
| Share Holding Post Issue | 68.53% |
Incorporated in 2003, Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.
The company's business can be divided into two verticals:
As of March 31, 2024, the company's products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others.
The company manufactures a range of products, including two-wheelers, three-wheelers, light commercial vehicles, agricultural tyres, tread rubber, and various accessories such as bonding gum, tyre flaps, and vulcanizing solutions.
As of March 31, 2024, the company operated 8 depots and had 3,737 dealers nationwide.
The company operates three manufacturing facilities, with two located at Mattoor in Kalady, Kerala, and the third in Al Hamra Industrial Zone in Ras Al Khaimah, UAE.
The company has 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category.
The company has obtained various quality certifications such as ISO 9001:2015, IATF 16949:2016 issued by UK Certifications.
The company's clientele includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. etc. for products.
As of March 31, 2024, the company has developed 163 new designs and products and has also created moulds for them.
As of March 31, 2024, the company's sales and marketing team comprised 55 employees, including contract workers who reported to the Chairman and Managing Director.
| Period Ended | 31 Mar 2024 | |||||||||
| Assets | 221.6 | |||||||||
| Revenue | 228.69 | |||||||||
| Profit After Tax | 26.01 | |||||||||
| Net Worth | 100.53 | |||||||||
| Reserves and Surplus | 85.07 | |||||||||
| Total Borrowing | 78.77 | |||||||||
| Amount in ₹ Crore | ||||||||||
The market capitalization of Tolins Tyres IPO is Rs 892.9 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 25.87% |
| ROCE | 36.08% |
| Debt/Equity | 0.78 |
| RoNW | 25.87% |
| P/BV | 6.14 |
| PAT Margin (%) | 11.45 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.48 | 6.58 |
| P/E (x) | 26.64 | 34.33 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] The company is in the business of tyres and tread rubber manufacturing and marketing along with supply of related products. It marked setback for FY23 following market conditions and volatile crude oil and natural rubber prices. It marked improved performance for FY24 following consolidation of activities with added capacities. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for medium to long term. Read detail review...
The Tolins Tyres IPO is subscribed 25.03 times on September 11, 2024 6:19:09 PM. The public issue subscribed 22.45 times in the retail category, 26.72 times in the QIB category, and 28.80 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 26.72 |
| NII | 28.80 |
| bNII (bids above ₹10L) | 26.39 |
| sNII (bids below ₹10L) | 33.63 |
| Retail | 22.45 |
| Total | 25.03 |
Total Application : 1,359,828 (25.20 times)
Note: Restated Standalone Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 83.82 | 99.14 |
| Revenue | 119.68 | 114.39 |
| Profit After Tax | 4.99 | 0.63 |
| Net Worth | 8.25 | 6.98 |
| Reserves and Surplus | 14.41 | 9.42 |
| Total Borrowing | 47.03 | 48.87 |
| Listing Date | September 16, 2024 |
| BSE Script Code | 544254 |
| NSE Symbol | TOLINS |
| ISIN | INE0RWQ01014 |
| Final Issue Price | ₹226 per share |
Tolins Tyres Limited
No. 1/47, M C Road
Kalady, Ernakulam
Aluva - 683574
Phone: +917259287215
Email: cs@tolins.com
Website: https://www.tolinstyres.com/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Tolins Tyres IPO is a main-board IPO of 10,176,992 equity shares of the face value of ₹5 aggregating up to ₹230.00 Crores. The issue is priced at ₹215 to ₹226 per share. The minimum order quantity is 66 Shares.
The IPO opens on September 9, 2024, and closes on September 11, 2024.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Tolins Tyres IPO using UPI as a payment gateway. Zerodha customers can apply in Tolins Tyres IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tolins Tyres IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tolins Tyres IPO opens on September 9, 2024 and closes on September 11, 2024.
Tolins Tyres IPO lot size is 66 Shares, and the minimum amount required is ₹14,916.
You can apply in Tolins Tyres IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Tolins Tyres IPO will be done on Thursday, September 12, 2024, and the allotted shares will be credited to your demat account by Friday, September 13, 2024. Check the Tolins Tyres IPO allotment status.
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