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20 Nov 2024
Tolins Tyres Limited IPO And Its GMP
Tolins Tyres Limited is a leading player in the Tyre & Treads industry with an India presence with a diverse product range. They are one of the companies that are present in both verticals – manufacturing of new tyres and tread rubber. The Company has established itself as a major tyre retreading solutions provider across India and exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya and Egypt.
The major products of the Company include two-wheelers, three-wheelers, light commercial vehicles and agricultural tyres, procured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc.
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IPO OVERVIEW
- ● Issue Size: ₹230.00 crores
- ○ Fresh Issue: 0.88 crore shares, aggregating to ₹200.00 crores
- ○ Offer for Sale: 0.13 crore shares, aggregating to ₹30.00 crores
- ● Subscription Dates: September 9, 2024, to September 11, 2024
- ● Price Band: ₹215 to ₹226 per share
- ● Minimum Lot Size: 66 shares
- Book Running Lead Manager: ● Saffron Capital Advisors Private Limited
- Registrar: ● Cameo Corporate Services Limited
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Tolins Tyres Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 16-09-2024 | 226 | 30.0 (13%) | 16-Sep-2024 13:40 |
| 13-09-2024 | 226 | 30.0 (13%) | 13-Sep-2024 12:40 |
| 12-09-2024 | 226 | 30.0 (13%) | 12-Sep-2024 12:59 |
| 11-09-2024 | 226 | 39.0 (17%) | 11-Sep-2024 12:15 |
| 10-09-2024 | 226 | 39.0 (17%) | 10-Sep-2024 12:10 |
| 09-09-2024 | 226 | 39.0 (17%) | 09-Sep-2024 12:30 |
| 06-09-2024 | 226 | 25.0 (11%) | 06-Sep-2024 12:15 |
| 05-09-2024 | 226 | 25.0 (11%) | 05-Sep-2024 13:15 |
| 04-09-2024 | 226 | 25.0 (11%) | 04-Sep-2024 11:20 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Tolins Tyres IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹215 to ₹226 per share |
| Lot Size | 66 Shares |
| Total Issue Size | 10,176,992 shares (aggregating up to ₹230.00 Cr) |
| Fresh Issue | 8,849,558 shares (aggregating up to ₹200.00 Cr) |
| Offer for Sale | 1,327,434 shares of ₹5 (aggregating up to ₹30.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 30,659,272 |
| Share holding post issue | 39,508,830 |
Tolins Tyres IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Tolins Tyres Limited 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 Tyres Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Tolins Tyres IPO Promoter Holding
| Share Holding Pre Issue | 92.64% |
| Share Holding Post Issue |
Company & Financials
Incorporated in 2003, Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya and Egypt.
The company's business can be divided into two verticals:
As of March 31, 2024, the company's products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others. The company manufactures a range of products, including two-wheelers, three-wheelers, light commercial vehicles, agricultural tyres, tread rubber and various accessories such as bonding gum, tyre flaps and vulcanizing solutions. The company operates three manufacturing facilities, with two located at Mattoor in Kalady, Kerala and the third in Al Hamra Industrial Zone in Ras Al Khaimah, UAE. The company has 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category.
Tolins Tyres Limited Financial Information
| Period Ended | 31 Mar 2024 | |||||||||||||||||||||||||||||||||||||||
| Assets | 221.6 | |||||||||||||||||||||||||||||||||||||||
| Revenue | 228.69 | |||||||||||||||||||||||||||||||||||||||
| Profit After Tax | 26.01 | |||||||||||||||||||||||||||||||||||||||
| Net Worth | 100.53 | |||||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 85.07 | |||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 78.77 | |||||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 |
Objectives of Tolins Tyres IPO
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objectives:
- 1. Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company.
- 2. Augmentation of long-term working capital requirements of the company.
- 3. Investment in the 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.
- 4. General corporate purposes.
Tolins Tyres IPO Review
The company is in the business of tyres and tread rubber manufacturing and marketing along with a supply of related products. It marked a setback for FY23 following market conditions and volatile crude oil and natural rubber prices. It marked improved performance for FY24 following consolidation of activities with added capacities. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for the medium to long term.
FAQs for Tolins Tyres IPO
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What is Tolins Tyres IPO?
Tolins Tyres IPO is a main-board IPO. The company is going to raise ₹230 Crores via IPO. The issue is priced at ₹215 to ₹226 per equity share. The IPO is to be listed on BSE & NSE.
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When will Tolins Tyres IPO open for subscription?
The IPO will open on September 9, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 11, 2024.
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What is Tolins Tyres IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Tolins Tyres Issue Size?
Tolins Tyres' issue size is ₹230 crores.
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What is Tolins Tyres IPO Price Band?
Tolins Tyres IPO Price Band is ₹215 to ₹226.
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What is Tolins Tyres IPO Lot Size?
The minimum bid is 66 Shares with ₹ ₹14,916.
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What is the Tolins Tyres IPO Allotment Date?
Tolins Tyres IPO allotment date is September 12, 2024.
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What is the Tolins Tyres IPO Listing Date?
Tolins Tyres IPO listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of the Tolins Tyres IPO?
The current GMP of Tolins Tyres IPO is 30.0 (13%).
RHP:
RHP of Tolins Tyres Limited IPO.
DRHP:
DRHP of Tolins Tyres Limited IPO.
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What is Tolins Tyres IPO?
Tolins Tyres IPO is a main-board IPO. The company is going to raise ₹230 Crores via IPO. The issue is priced at ₹215 to ₹226 per equity share. The IPO is to be listed on BSE & NSE.
-
When will Tolins Tyres IPO open for subscription?
The IPO will open on September 9, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 11, 2024.
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What is Tolins Tyres IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is Tolins Tyres Issue Size?
Tolins Tyres' issue size is ₹230 crores.
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What is Tolins Tyres IPO Price Band?
Tolins Tyres IPO Price Band is ₹215 to ₹226.
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What is Tolins Tyres IPO Lot Size?
The minimum bid is 66 Shares with ₹ ₹14,916.
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What is the Tolins Tyres IPO Allotment Date?
Tolins Tyres IPO allotment date is September 12, 2024.
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What is the Tolins Tyres IPO Listing Date?
Tolins Tyres IPO listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of the Tolins Tyres IPO?
The current GMP of Tolins Tyres IPO is 30.0 (13%).
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