Tolins Tyres Limited IPO

NiftyTrader • September 9, 2024

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Tolins Tyres Limited IPO

Tolins Tyres Limited IPO opens on September 9, 2024, and closes on September 11, 2024. The allotment for the Tolins Tyres Limited IPO is anticipated to be completed on Thursday, September 12, 2024. The IPO will be tentatively listed on the NSE and BSE on Monday, September 16, 2024.

Tolins Tyres Limited IPO’s price band is Rs 215 to Rs 226 per share. The IPO is a book-built issue of Rs 230.00 crores. The issue is a combination of a fresh issue of 0.88 crore shares.

Tolins Tyres IPO Details

IPO Date	September 9, 2024 to September 11, 2024
Listing Date	[.]
Face Value	₹5 per share
Price	₹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
Shareholding pre-issue	30,659,272
Shareholding post-issue	39,508,830

Tolins Tyres IPO Lot Size

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

Tolins Tyres IPO Objectives

The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

Augmentation of long-term working capital requirements of the company;
Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company;
Investment in the wholly owned subsidiary, Tolin Rubbers Private Limited, to repay and/ or prepay, in full, certain of its short-term and long-term borrowings and augmentation of its working capital requirements; and
To meet the General Corporate Purposes; and

About Tolins Tyres Limited

Incorporated in 2003, Tolins Tyres Limited is a tyre manufacturer specializing in both tyre and tread rubber production. The company offers a range of products including tyres for light commercial vehicles, off-road/agriculture vehicles, two- and three-wheelers, and various accessories like tyre tubes and tread rubber. With operations in India and export markets spanning 40 countries, including the Middle East and East Africa, Tolins Tyres runs three manufacturing facilities—two in Mattoor, Kerala, and one in Ras Al Khaimah, UAE. The company operates 8 depots and maintains a network of 3,737 dealers across India. As of March 31, 2024, Tolins Tyres has 163 SKUs in tyres and 1,003 SKUs in tread rubber. It holds ISO 9001:2015 and IATF 16949:2016 certifications and has developed 163 new designs and moulds. The sales and marketing team comprises 55 employees, including contract workers.

Tolins Tyres Limited Financial Information

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

Tolins Tyres IPO Reservation

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
Anchor Investor Shares Offered	30,53,097 (30%)
bNII > ₹10L	10,17,699 (10%)
sNII < ₹10L	5,08,850 (5%)
QIB Shares Offered	20,35,398 (20%)
NII (HNI) Shares Offered	15,26,549 (15%)
Retail Shares Offered	35,61,947 (35%)
Total Shares Offered	1,01,76,991 (100%)

Tolins Tyres IPO Timeline

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
A 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