TOLINS TYRES LIMITED

09 Sep 2024 - 11 Sep 2024 Individual Category Main Board BSE NSE

Min Investment

₹14916

Price Band

₹215-₹226

Issue Size

74.88 lakhs
Equity Shares

Lot Size

66

IPO Dates
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09 Sep 2024

Open Date

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11 Sep 2024

Close Date

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12 Sep 2024

Allotment Date

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16 Sep 2024

Listing Date

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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About Tolins Tyres Limited

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.

Founded

2003

Managing Director

Kalamparambil Varkey Tolin and Jerin Tolin Limited

Parent Organization

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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