Tolins Tyres IPO: Most Awaited IPO

• Tolins Tyres IPO is a book-built issue of Rs 230 crores.
• This upcoming IPO bidding opens on September 9 and closes on September 11, 2024.
• Tolins Tyres's IPO price is set at Rs 215 – Rs 226 per share.
• The minimum investment amount required for retail investors is Rs 14,916.

Tolins Tyres IPO: Synopsis

Tolins Tyres is open for subscription from Monday, September 9, 2024, and closing on Wednesday, September 11, 2024. The price band for this IPO is set to Rs 215 – Rs 226 per share.

The company is offering a fresh issue of 88.49 lakh equity shares amounting up to Rs 200 crore and an offer for sale of 13.27 lakh equity shares amounting up to Rs 30 crore; this aggregates to a total size of 1.02 crore equity shares amounting up to Rs 230 crore.

The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024. This IPO will be listed on the NSE and BSE exchanges on Monday, September 16, 2024.

The IPO is managed by Saffron Capital Advisors Private Limited, which is book running as the lead manager of this IPO. The company has appointed Cameo Corporate Services Limited as the registrar for the issue.

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Tolins Tyres Limited: About the Company

Tolin Tyres, incorporated in 2003, is one of the leading players in the Tyre & Treads industry with an India presence and a diverse product range. They are one of the companies that are present in both verticals, manufacturing new tyres and tread rubber. The company has established itself as a major tyre retreading solutions provider across India and has exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt. The major products of the Company include two-wheeler, three-wheelers, light commercial vehicles and agricultural tyres, procured tread rubber and other accessories, including bonding gum, tyre flap, vulcanising solutions, etc. They are primarily engaged in the manufacturing bias tyres for a comprehensive array of vehicles (including light commercial, agricultural and two/three-wheeler vehicles) and procured tread rubber and are also involved in the manufacturing of ancillary products like bonding gum, vulcanising solution, tyre flaps and tubes. The company commenced operations in 1982 as a proprietorship concern for the manufacture of tread rubber.

Tolins Tyres IPO: Objectives

The company proposes to utilise the Net Proceeds towards Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by our Company, next augmentation of long-term working capital requirements of our Company, investment in our 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 in general corporate purposes, however the amount utilised for general corporate purposes shall not exceed 25% of the Gross Proceed.

Tolins Tyres IPO: Other Important Details

Time-Table of Tolins Tyres IPO

Tolins Tyres Ltd Financial Metrics (Amt in Rs Crore)

Lot Size Details of Tolins Tyres IPO

Promoters of Tolins Tyres Limited and Their Holdings

Kalamparambil Varkey Tolin and Jerin Tolin Limited are the promoter(s) of the company. They collectively held 92.64% of the company's shares. However, post-IPO, the change in his shareholding has not yet been disclosed.

FAQs

1.  What are the core details available for Tolins Tyres’s IPO?

Tolins Tyres IPO is a book-built issue of Rs 230 crore. This upcoming IPO offers a fresh issue of 88.49 lakh equity shares and an offer for sale of 13.27 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024.

2.  How can I apply for the Tolins Tyres IPO?

The public subscription of this new IPO opens on Monday, September 9, 2024 and closes on Wednesday, September 11, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Tolins Tyres IPO?

Saffron Capital Advisors Private Limited were appointed as the book-running lead managers for this IPO.

4.  Who is appointed as the registrar for this IPO?

Cameo Corporate Services has been appointed as the registrar for this public issue.

5.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Tolins Tyres Limited by visiting here, for further updates, follow Bigul.

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