Tolins Tyres IPO Anchor Allocation at 30%

Tolins Tyres IPO saw a positive anchor allocation response, with 30% of the total IPO size subscribed by anchor investors. Out of 10,176,991 shares on offer, anchors picked up 3,053,097, demonstrating strong market confidence. The anchor allocation details were reported to the stock exchanges on 6th September 2024, just ahead of the IPO opening on 9th September 2024.

The book-built issue of ₹230.00 crores comprises a fresh issue of 8,849,558 shares aggregating ₹200.00 crores and an offer for sale of 1,327,434 shares aggregating ₹30.00 crores. The price band is set at ₹215 to ₹226 per share, with a face value of ₹5 per share. This includes a share premium of ₹221 per share at the upper end of the price band.

The anchor allocation process, which took place on 6th September 2024, saw strong participation from institutional investors. The entire anchor allocation was made at the upper end of the price band, ₹226 per share, indicating robust demand and confidence in the company's prospects.

After the anchor allocation, the overall allocation of the Tolins IPO looks as follows:

Notably, the 3,053,097 shares allocated to anchor investors were reduced from the original Qualified Institutional Buyers (QIB) quota. As a result, the QIB quota has been reduced from 50% before the anchor allocation to 20% after the allocation. This adjustment ensures that the overall allocation to QIBs, including the anchor portion, remains within regulatory limits.

The lock-in period for anchor investors is an important aspect of the allocation. For Tolins Tyres Limited IPO, the lock-in details are as follows:

• Lock-in Period (50% Shares): 14th October 2024
• Lock-in Period (Remaining Shares): 13th December 2024

This lock-in period ensures that anchor investors maintain their investments for a specified duration, stabilising the stock price after listing.

Anchor Investors in Tolins Tyres IPO

Anchor investors are typically large institutional investors allotted shares in an IPO before it opens to the public. The anchor allocation process is a crucial part of the IPO, as it helps in price discovery and builds confidence among retail investors. The strong response from anchor investors often sets a positive tone for the public issue and can influence the overall subscription levels.

On 6th September 2024, Tolins Tyres IPO completed the bidding for its anchor allocation. There was a robust response as the anchor investors participated in the book-building process. A total of 3,053,097 shares were allotted to 8 anchor investors. The allocation was done at the upper IPO price band of ₹226 per share, resulting in an overall anchor allocation of ₹69.00 crore. The anchors have already absorbed 30.00% of the total issue size of ₹230.00 crore, indicating strong institutional demand.

The entire anchor allocation of ₹69.00 crore was spread across the 8 major anchor investors. The detailed and comprehensive report on the anchor allocation can be accessed on the BSE website.

Key IPO Details:

• IPO Size: ₹230.00 crores
• Shares Allocated to Anchors: 3,053,097
• Anchor Subscription Percentage: 30%
• Listing Date: 16th September 2024
• IPO Opening Date: 9th September 2024

About Tolins Tyres IPO and How to Apply for Tolins Tyres IPO

Tolins Tyres Limited, incorporated in 2003, is a prominent tyre manufacturing company with a strong presence in India and exports to 40 countries. The company operates in two main verticals: tyre and tread rubber. It offers a diverse range of products including light commercial vehicle tyres, off-road/agriculture tyres, two-wheeler & three-wheeler tyres, tyre tubes & flaps, and various rubber products.

The company has three manufacturing facilities: two in Kerala, India, and one in Ras Al Khaimah, UAE. As of 31st March 2024, it boasts a network of 8 depots and 3,737 dealers nationwide. Tolins Tyres has obtained quality certifications ISO 9001:2015 and IATF 16949:2016 and has developed 163 new designs and products.
 

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