The Tolins Tyres IPO, amounting to Rs 230.00 crores, is being issued as a book built issue. The issue comprises a fresh issue of 0.88 crore shares, aggregating to Rs 200.00 crores, and an offer for sale of 0.13 crore shares, aggregating to Rs 30.00 crores.
The Tolins Tyres IPO was opened for subscription on September 9, 2024, and is scheduled to close on September 11, 2024. The allotment for the Tolins Tyres IPO is expected to be finalized by Thursday, September 12, 2024. The IPO is expected to be listed on BSE and NSE, with a tentative listing date set for Monday, September 16, 2024.
The price band for the Tolins Tyres IPO has been set at ₹215 to ₹226 per share. A minimum lot size of 66 shares has been required for an application. The minimum amount of investment required by retail investors has been set at ₹14,916. For sNII, the minimum lot size investment is set at 14 lots (924 shares), amounting to ₹208,824, and for bNII, it is set at 68 lots (4,488 shares), amounting to ₹1,014,288.
Refer to Tolins Tyres IPO RHP for brief information.
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Face Value | ₹ 5 / Share |
| Price Band | ₹ 215 to ₹ 226 / Share |
| Lot Size | 66 Shares |
| Total Issue Size | 10,176,992 share (Aggregating up to ₹230.00 Cr) |
| Fresh Issue | 8,849,558 (Aggregating up to ₹200.00 Cr) |
| Offer for Sale | 1,327,434 shares (Aggregating up to ₹30.00 Cr) |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 30,659,272 |
| Share holding post issue | 39,508,830 |
| Market Maker portion |
Tolins Tyres Limited IPO opens on September 9, 2024, and closes on September 11, 2024.
| IPO Open Date | September 9, 2024 |
| IPO Close Date | September 11, 2024 |
| Basis of Allotment | September 12, 2024 |
| Initiation of Refunds | September 13, 2024 |
| Credit of Shares to Demat | September 13, 2024 |
| Listing Date | September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM, September 11, 2024 |
A minimum of 66 shares and multiples thereof can be bid for by investors. The table below depicts the minimum and maximum investments by retail investors and HNIs, in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 66 | Rs.14,916 |
| Retail (Max) | 13 | 858 | Rs.193,908 |
| S-HNI (Min) | 14 | 924 | Rs.208,824 |
| S-HNI (Max) | 67 | 4,422 | Rs.999,372 |
| B-HNI (Min) | 68 | 4,488 | Rs.1,014,288 |
| HNI (Min) |
| Share Holding Pre Issue | 92.64% |
| Share Holding Post Issue | 68.53% |
A total of 1,01,76,991 shares are being offered in the Tolins Tyres IPO. Of these, 20,35,398 shares (20%) are allocated to QIBs, 15,26,549 shares (15%) to NIIs, 35,61,947 shares (35%) to RIIs, and 30,53,097 shares (30%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 30,53,097 30% |
NA |
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 20,35,398 (20%) |
NA |
| NII (HNI) Shares Offered | 15,26,549 (15%) |
|
| bNII > ₹10L | 10,17,699 (10%) |
1,101 |
| sNII < ₹10L | 5,08,850 (5%) |
550 |
| Retail Shares Offered | 35,61,947 35% |
53,968 |
| Employee Shares Offered | |
|
| Total Shares Offered | 1,01,76,991 100% |
Rs 69.00 crore has been raised from anchor investors by the Tolins Tyres IPO. The anchor bid date for the Tolins Tyres IPO has been set as September 6, 2024.
| Bid Date | |
| Shares Offered | 30,53,097 |
| Anchor Portion Size (In Cr.) | 69.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 11, 2024 |
In July 2003, TolinsTyres Limited was established. The company has a vast range of products and is one of the top players in the market, with a presence throughout India. It is a company that operates in the tread rubber and new tire manufacturing areas. The business has made a name for itself as one of India's leading suppliers of tire reading solutions, and it exports to 40 nations, including Egypt, Kenya, Jordan, and East Africa.
Two- and three-wheeler tires, light commercial vehicle and agricultural tires, pre-vulcanized tread rubbers, and additional accessories like adhesive tape, tire tabs, vulcanization solutions, etc. are among the company's main offerings.
The company produces bias-ply tires for a variety of vehicles, including light trucks, SUVs, and two- and three-wheelers, in addition to pre-vulcanized tread rubbers. Ancillary products like adhesive tape, vulcanization solutions, tyre flaps, and tubes are also produced by the company.
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 |
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
The Net Proceeds from the Fresh Issue are proposed to be utilized by the Company towards funding the following objects:
- Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company is proposed to be funded.
- The augmentation of long-term working capital requirements of the company is proposed to be funded.
- Investment in the wholly owned subsidiary, Tolin Rubbers Private Limited, for the repayment and/or prepayment, in full, of certain of its short-term and long-term borrowings, as well as for the augmentation of its working capital requirements, is proposed to be funded.
- General corporate purposes are proposed to be funded.
Tolins Tyres Limited No. 1/47, M C Road |
Cameo Corporate Services Limited Phone: +91-44-28460390 |
Lamfindia specializes in offering innovative financial solutions, including stock broker services, mutual fund investments, and IPO guidance.