Tolins Tyres IPO
IPO Listing Details
- Listing Date
16 Sep 2024
- Listing Price
₹227.00
- Listing Change
0.44%
- Last Traded Price
₹172.43
IPO Details
- Open Date
09 Sep 2024
- Close Date
11 Sep 2024
- IPO
Price Range
₹ 215 to ₹ 226
- IPO
Size
₹ 230.00 Cr
- Listing Exchange
BSE, NSE
- Listing Date
16 Sep 2024
IPO Timeline
Tolins Tyres IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 09-Sep-24 | 0.13 | 0.88 | 3.39 | 1.92 |
| 10-Sep-24 | 0.48 | 4.31 | 8.93 | 5.53 |
| 11-Sep-24 | 26.72 | 28.80 | 22.38 | 25.00 |
Last Updated: 11 September 2024 6:19 PM by 5Paisa
Last Updated: 11th September 2024, 06:19 PM by 5paisa
Tolins Tyres IPO is set to open on 09 September 2024 and will close 11 on September 2024. Tolins Tyres Limited is a company that manufactures tyres.
The IPO includes a fresh issue of 0.88 crore shares aggregating ₹200 Cr and an offer for sale of 0.13 crore shares aggregating ₹30.00 Cr. The price range is set between ₹215 to ₹226 per share and the lot size is 66 shares.
The allotment is scheduled to be finalized on 12 September 2024. It will go public on BSE & NSE, with a tentative listing date of 16 September 2024.
Saffron Capital Advisors Private Limited is the book-running lead manager, while Cameo Corporate Services Limited is the registrar.
Tolins IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO Size | ₹230.00 |
| Offer for sale | ₹30.00Cr |
| Fresh issue | ₹200.00 Cr |
Tolins IPO Lot Size
| 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 IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 26.72 | 20,35,398 | 5,43,83,274 | 1,229.06 |
| NII (HNI) | 28.80 | 15,26,549 | 4,39,63,458 | 993.57 |
| Retail | 22.38 | 35,61,947 | 7,97,32,554 | 1,801.96 |
| Total | 25.00 | 71,23,894 | 17,80,79,286 | 4,024.59 |
Tolins IPO Anchor Allocation
| Anchor Bid Date | 6 September, 2024 |
| Shares Offered | 3,053,097 |
| Anchor Portion Size (In Cr.) | 69.00 |
| Lock in Period for 50% shares (30 days) | 12 October, 2024 |
| Lock in Period for rest of shares (90 days) | 11 December, 2024 |
1. Full repayment or prepayment of certain loans.
2. Increase in the company's long-term working capital.
3. Investment in subsidiaries.
4. General corporate purposes
Tolins Tyres Limited, founded in 2003, is a tyre manufacturing company that offers tyre retreading solutions across India and exports to 40 countries, including regions like the Middle East, East Africa, Jordan, Kenya, and Egypt.
The company's business is divided into two main areas:
1. Tyre Manufacturing
2. Tread Rubber Manufacturing
As of 31 March 2024, their product range includes tyres for light commercial vehicles, off-road and agricultural vehicles, two-wheelers, three-wheelers, along with tyre tubes, flaps, and other related products like bonding gum and vulcanising solutions.
Tolins operates three manufacturing facilities, two in Kerala, India and one in the UAE. They have 8 depots and a network of 3,737 dealers across the country.
The company offers a wide range of products with 163 different stock-keeping units (SKUs) for tyres and 1,003 SKUs for tread rubber. They hold certifications like ISO 9001:2015 and IATF 16949:2016 for quality assurance.
Their client list includes companies like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. By March 2024, they had developed 163 new designs and products and created the necessary molds for them.
The company's sales and marketing team consists of 55 employees, including contract workers, all of whom report directly to the Chairman and Managing Director.
Peers
● Indag Rubber Ltd.
● Vamshi Rubber Ltd.
● TVS Srichakra Ltd.
● GRP Ltd.
● Elgi Rubber Company Limited
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Standalone) | FY22(Standalone) |
|---|---|---|---|
| Revenue | 228.70 | 119.68 | 114.39 |
| EBITDA | 46.37 | 12.26 | 6.09 |
| PAT | 26.01 | 4.99 | 0.63 |
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Standalone) | FY22(Standalone) |
|---|---|---|---|
| Total Assets | 221.60 | 83.82 | 99.14 |
| Share Capital | 15.33 | 5.00 | 1.40 |
| Total Borrowings | 78.77 | 47.02 | 48.87 |
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Standalone) | FY22(Standalone) |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | -3.59 | 1.82 | 2.53 |
| Net Cash Generated From / (used in) investing activities | -54.13 | 0.03 | -2.57 |
| Net Cash Generated From / (used in) financing activities | 57.71 | -1.94 | 0.10 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -0.01 | -0.09 | -0.07 |
Strengths
1. The company offers a diverse selection of products and can customize them to meet specific needs.
2. They have long-standing partnerships with major manufacturers and dealers, backed by high-quality products.
3. Their integrated facilities and in-house R&D give them the ability to scale, innovate, and offer flexible solutions, all while benefiting from strategic locations.
Risks
1. Tyre industry is highly competitive and rapid technological advancements could impact their market position if they fail to keep up.
2. The cost of raw materials especially rubber can be volatile affecting their profit margins.
3. Changes in regulations or standards related to manufacturing, quality control or environmental issues could increase operational costs or affect their ability to sell products in certain markets.
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FAQs
Tolins Tyres IPO opens from 9 September to 11 September 2024.
The size of Tolins Tyres IPO is ₹230.00 crores.
The price of Tolins Tyres IPO is fixed at ₹215 to ₹226 per share.
To apply for Tolins Tyres IPO, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for the Tolins Tyres IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Tolins Tyres IPO is 66 shares and the investment required is ₹14,190.
The share allotment date of Tolins Tyres IPO is 12 September 2024
The Tolins Tyres IPO will be listed on 16 September 2024.
Saffron Capital Advisors Private Limited is the book-running lead manager for Tolins Tyres IPO.
Tolins Tyres plans to utilize the raised capital from the IPO for:
● Full repayment or prepayment of certain loans.
● Increase in the company's long-term working capital.
● Investment in subsidiaries.
● General corporate purposes.
Contact Information
Tolins Tyres
Tolins Tyres Limited
No. 1/47, M C Road
Kalady, Ernakulam
Aluva - 683574
Phone: +917259287215
Email: cs@tolins.com
Website: https://www.tolinstyres.com/
Tolins Tyres IPO Register
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Tolins Tyres IPO Lead Manager
Saffron Capital Advisors Private Limited
