Tolins Tyres Limited IPO Overview

Tolins Tyres IPO, valued at ₹230 crores, opens for subscription from September 9 to 11, 2024. The issue includes a fresh issue of 0.88 crore shares worth ₹200 crores and an offer for sale of 0.13 crore shares worth ₹30 crores. The price band is ₹215-226 per share, with a minimum investment of ₹14,916 for retail investors.

Allotment is expected by September 12, with a listing on BSE and NSE on September 16, 2024. Saffron Capital Advisors is the lead manager, and Cameo Corporate Services is the registrar. For more details, refer to the  Tolins Tyres IPO RHP.

Tolins Tyres Limited IPO Important dates

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
The 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

Tolins Tyres Limited IPO Financial Performance

Metric Amount
Assets ₹221.6 Crore
Revenue ₹228.69 Crore
Profit After Tax ₹26.01 Crore
Net Worth ₹100.53 Crore
Reserves and Surplus ₹85.07 Crore
Total Borrowing ₹78.77 Crore

Tolins Tyres Limited IPO Key Performance Indicator

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

Tolins Tyres Limited IPO Objectives

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

  • Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company;
  • Augmentation of long-term working capital requirements of 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
  • General corporate purposes.

Tolins Tyres Limited 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 Limited IPO Details

IPO Date September 9, 2024 to September 11, 2024
Listing Date [.]
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
Shareholding pre-issue 30,659,272
Shareholding post issue 39,508,830

Tolins Tyres Limited Company Overview and Services

Incorporated in 2003, Tolins Tyres Limited is a leading tyre manufacturing company in India, offering tyre retreading solutions domestically and exporting to over 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt. The company operates in two key verticals: tyre manufacturing and tread rubber manufacturing, producing a wide range of products like tyres for light commercial vehicles, off-road and agricultural tyres, two-wheeler and three-wheeler tyres, tyre tubes, and flaps, as well as tread rubber, bonding gum, vulcanizing solutions, and more.

Tolins Tyres operates three manufacturing facilities, with two in Mattoor, Kalady, Kerala, and one in the Al Hamra Industrial Zone, Ras Al Khaimah, UAE. The company has a robust distribution network with 8 depots and 3,737 dealers across India. It offers 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in tread rubber. Tolins Tyres has earned several quality certifications, including ISO 9001:2015 and IATF 16949:2016, and serves notable clients like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip.

As of March 31, 2024, Tolins Tyres developed 163 new designs and products, along with moulds for each. The company employs a dedicated sales and marketing team of 55, including contract workers, reporting to the Chairman and Managing Director, ensuring a strong market presence and customer engagement.

Tolins Tyres Limited IPO SWOT Analysis 

Strengths:

  • Established Market Presence: Tolins Tyres is a recognized brand in the tyre industry, catering to a broad customer base with a diverse product range.
  • Fresh Capital Infusion: The IPO will provide funds to reduce debt, enhance working capital, and invest in subsidiary operations, supporting growth and financial stability.
  • Strategic Investments: Proceeds will also support investments in its subsidiary, Tolin Rubbers, helping to expand its market footprint.

Weaknesses:

  • High Debt Levels: The company has existing loans, and while the IPO proceeds will help reduce this, high leverage could still pose a risk to financial flexibility.
  • Limited Market Reach: Despite its presence, Tolins Tyres faces competition from larger, more established tyre manufacturers with wider distribution networks.

Opportunities:

  • Growing Automotive Sector: Rising demand for vehicles in India can boost tyre sales, creating growth opportunities.
  • Expansion Potential: Fresh capital can help Tolins Tyres expand into new markets, diversify its product portfolio, and strengthen its market position.

Threats:

  • Competitive Market: The tyre industry is highly competitive, with several major players and constant pricing pressure.
  • Economic Fluctuations: Changes in economic conditions, raw material prices, or government regulations could affect demand and profitability.

Tolins Tyres Limited IPO GMP Details

Tolins Tyres IPO last GMP is ₹30, last updated Sep 7th 2024. With a price band of 226.00, Tolins Tyres IPO’s estimated listing price is ₹256 (cap price + today’s GMP). The expected percentage gain/loss per share is 13.27%.

Stay with us to know the daily price trend of Tolins Tyres IPO  GMP with an expected listing price.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
07-09-2024 226.00 ₹30  1500/21000 ₹256 (13.27%) 7-Sep-2024
06-09-2024 226.00 ₹30   1500/21000 ₹256 (13.27%) 6-Sep-2024
05-09-2024 226.00 ₹25  1300/18200 ₹251 (11.06%) 5-Sep-2024
04-09-2024 226.00 ₹25  1300/18200 ₹251 (11.06%) 4-Sep-2024
03-09-2024 226.00 ₹25   1300/18200 ₹251 (11.06%) 3-Sep-2024
02-09-2024 ₹0  — ₹ (0%) 2-Sep-2024

Tolins Tyres Limited IPO subscription status

Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.

Tolins Tyres Limited IPO Allotment status

The allotment status of Tolins Tyres IPO is expected to be available on September 12, 2024.

Tolins Tyres IPO allotment status is not available at this time. Tolins Tyres IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Tolins Tyres Limited’s IPO allotment status.

To check Tolins Tyres IPO allotment status, follow the steps below:

  • Click on the allotment status check button below.
  • Select Company Name.
  • Enter your PAN Number, Application Number or DP Client ID (Anyone).
  • Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Cameo Corporate Services Limited either by phone or email. Investors can call +91-44-28460390 or send an email with all relevant details to priya@cameoindia.com.

Tolins Tyres Limited Contact Details

Tolins Tyres Limited
No. 1/47, M C Road
Kalady, Ernakulam
Aluva – 683574
Phone: +917259287215
Email: cs@tolins.com
Website: https://www.tolinstyres.com/

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Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.