Tolins Tyres IPO price band: The Tolins Tyres Limited IPO price band has been fixed in the range of ₹215 to ₹226 per equity share of the face value of ₹5. The Tolins Tyres IPO date of subscription is scheduled for Monday, September 9, and will close on Wednesday, September 11. The allocation to anchor investors for the Tolins Tyres IPO is scheduled to take place on Friday, September 6.
The floor price is and the cap price are 43 times and 45.2 times the face value of the equity shares respectively. The Tolins Tyres IPO lot size is 66 equity shares and in multiples of 66 equity shares thereafter.
Tolins Tyres IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Tolins Tyres IPO basis of allotment of shares will be finalised on Thursday, September 12, and the company will initiate refunds on Friday, September 13, while the shares will be credited to the demat account of allottees on the same day following refund. Tolins Tyres share price is likely to be listed on BSE and NSE on Monday, September 16.
The company mainly produces bias tyresfor a wide range of automobiles (light commercial, agricultural, and two- and three-wheeler vehicles), as well as precured tread rubber. Ancillary products such as bonding gum, vulcanising solution, tyre flaps, and tubes are also produced by the company.
The company is a thriving business in the retreading and tire manufacturing industry, and theor profits-after-taxes have achieved a compound annual growth rate of 541.98% from fiscal 2022 (on a standalone basis) to fiscal 2024 (on a consolidated basis).
The company is known as a leading provider of tyres retreading solutions in India and has exported its products to 40 different countries, such as the Middle East, East Africa, Jordan, Kenya, and Egypt, as stated in a report commissioned by the company from CRISIL.
As per the red herring prospectus (RHP), the company's listed peers are Indag Rubber Ltd (with a P/E of 39.94), Vamshi Rubber Ltd (with a P/E of 27.94), TVS Srichakra Ltd (with a P/E of 33.76), GRP Ltd (with a P/E of 24.07), and Elgi Rubber Company Ltd (with a P/E of 45.12).
Tolins Tyres IPO, which is worth ₹230 crore, comprises a fresh issue of ₹200 crore, and an offer-for-sale (OFS) worth ₹30 crore by the promoters selling shareholders.
As stated in the RHP, Dr. Kalamparambil Varkey Tolin and Jerin Tolin jointly possess 25,541,197 Equity Shares with a face value of ₹5 each, constituting 83.31% of the company's issued, subscribed, and paid-up equity share capital.
Dr. Kalamparambil Varkey Tolin and Jerin Tolin are both selling 15 crore each in the Offer for Sale (OFS).
The company plans to use the money raised from the new issue to fully repay or prepay certain existing loans, increase long-term working capital, invest in our wholly owned subsidiary, and cover general corporate needs.
Saffron Capital Advisors Private Limited serves as the book running lead manager for the Tolins Tyres IPO, and Cameo Corporate Services Limited is responsible for handling the registration of the issue.
Tolins Tyres IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹226 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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