The Tolins Tyres IPO will open on September 9, 2024, and close on September 11, 2024. It is a Book Built Issue, aiming to raise approximately ₹230.00 crores. This includes a fresh issue of ₹200.00 crores and an offer for sale of up to 1,327,434 equity shares with a face value of ₹5 each.
The IPO price band is set between ₹215 and ₹226 per share. The allocation is divided into 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-Worth Individuals (HNI). Tolins Tyres is scheduled to list on the BSE and NSE on September 16, 2024, with the allotment date being September 12, 2024.
In 2024, the company reported revenue of ₹228.69 crores and a profit of ₹26.01 crores. Based on these financials, investors may consider applying for the IPO with a long-term perspective.
Tolins Tyres IPO Objectives:
The company plans to use the net proceeds from the fresh issue for the following purposes:
Repayment and/or prepayment, in full, of certain outstanding loans, including any foreclosure charges, if applicable.
Strengthening the company’s long-term working capital requirements.
Investment in its wholly owned subsidiary, Tolin Rubbers Private Limited, to repay and/or prepay certain short-term and long-term borrowings and to enhance its working capital.
General corporate purposes.
Tolins Tyres IPO Review (Apply or Not):
Review will be updated soon.
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Tolins Tyres IPO Date & Price Band Details:
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| Issue Size: | Approx ₹230 Crores |
| Fresh Issue: | Approx ₹200 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
Tolins Tyres IPO Market Lot:
The minimum market lot for the Tolins Tyres IPO is 66 shares, requiring an application amount of ₹14,916. Retail investors can apply for up to 13 lots, which equals 858 shares or an investment of ₹193,908.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 66 | ₹ 14,916 |
| Retail Maximum | 13 | 858 | ₹ 1,93,908 |
| S-HNI Minimum | 14 | 924 | ₹ 2,08,824 |
| B-HNI Minimum | 68 | 4,488 | ₹ 10,14,288 |
Tolins Tyres IPO Dates:
The Tolins Tyres IPO will open on September 9 and close on September 11. The allotment of shares will be finalized on September 12, and the IPO is set to list on September 16.
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Basis of Allotment: | September 12, 2024 |
| Refunds: | September 13, 2024 |
| Credit to Demat Account: | September 13, 2024 |
| IPO Listing Date: | September 16, 2024 |
Tolins Tyres IPO GMP Today:
Update coming soon.
Promoters of Tolins Tyres:
The company is led by its promoters, Kalamparambil Varkey Tolin and Jerin Tolin.
About Tolins Tyres:
Founded in 1982 by K.P. Varkey, Tolins Tyres has grown into a prominent player in India’s tyre and treads industry. The company offers a wide range of products, including new tyres and tread rubber, and is well-known for its tyre retreading solutions. In addition to serving the Indian market, Tolins Tyres exports its products to over 40 countries globally.
Tolins Tyres specializes in manufacturing bias tyres for various vehicles, precured tread rubber, and related products such as bonding gum, vulcanizing solutions, tyre flaps, and tubes. The company operates three facilities, two in India and one in the UAE.
Tolins Tyres Financial Report:
In 2024, the company reported revenue of ₹228.69 crores and a profit of ₹26.01 crores.
| In crores | ||||
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2024 | ₹ 228.69 | ₹ 195.80 | ₹ 26.01 | ₹ 221.60 |
Tolins Tyres IPO Valuation – FY2024:
Review the valuation details of Tolins Tyres IPO, including key metrics such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).
| KPI | Values |
| ROE: | 25.87% |
| ROCE: | 36.08% |
| EBITDA Margin: | 20.41% |
| PAT Margin: | 11.45% |
| Debt to equity ratio: | 0.78 |
| Earning Per Share (EPS): | ₹9.52 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 25.87% |
| Net Asset Value (NAV): | ₹ 36.80 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Indag Rubber Limited | 6.15 | 39.94 | 6.79% | 87.46 | 251.19 Cr. |
| Vamshi Rubber Limited | 1.87 | 27.94 | 4.46% | 32.54 | 77.42 Cr. |
| TVS Srichakra Limited | 140.98 | 33.76 | 9.70% | 1451.55 | 2926.0 Cr. |
| GRP Ltd | 169.78 | 24.07 | 13.58% | 1250.57 | 461.38 Cr. |
| Elgi Rubber Company Limited | 2.33 | 45.12 | 6.15% | 37.91 | 386.45 Cr. |
Tolins Tyres IPO Registrar:
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
IPO Lead Managers (Merchant Bankers):
Saffron Capital Advisors Private Limited
Company Address:
Tolins Tyres Limited
No. 1/47, M.C. Road
Kalady, Ernakulam
Aluva – 683574
Phone: +91-7259287215
Email: cs@tolins.com
Website: https://www.tolinstyres.com/
Tolins Tyres IPO FAQs:
What are the key dates for the Tolins Tyres IPO?
IPO Open Date: September 9, 2024
IPO Close Date: September 11, 2024
Allotment Date: September 12, 2024
Listing Date: September 16, 2024
What is the price band for the Tolins Tyres IPO?
The price band for the Tolins Tyres IPO is ₹[.] per share.
How many shares can I apply for in the Tolins Tyres IPO?
Minimum Lot Size: [.] shares, with an application amount of ₹[.]
Maximum Shares for Retail Investors: Up to 13 lots, equaling [.] shares or ₹[.]
How is the Tolins Tyres IPO allocation divided?
Retail Investors: 35%
Qualified Institutional Buyers (QIBs): 50%
Non-Institutional Investors (HNI): 15%
Who are the promoters of Tolins Tyres?
The promoters are Kalamparambil Varkey Tolin and Jerin Tolin.
What does Tolins Tyres do?
Established in 1982 by K.P. Varkey, Tolins Tyres is a leading player in the tyre and treads sector. The company manufactures new tyres, tread rubber, and provides tyre retreading solutions. Its product range includes bias tyres for various vehicles, precured tread rubber, bonding gum, vulcanizing solutions, tyre flaps, and tubes. Tolins operates three facilities—two in India and one in the UAE.
Where will Tolins Tyres be listed?
Tolins Tyres shares will be listed on both the BSE and NSE.
What should investors consider before applying for the IPO?
Investors should evaluate the company’s financial performance and growth potential. For FY2024, Tolins Tyres reported revenue of ₹228.69 crores and a net profit of ₹26.01 crores. Understanding the company’s market position can assist in making a well-informed decision.