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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.
Book Running Lead Manager:
- â Saffron Capital Advisors Private Limited
Registrar:
- â Cameo Corporate Services Limited
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 |
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:
- 1. Tyre manufacturing.
- 2. Tread Rubber manufacturing.
- 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.
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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Tolins Tyres Limited IPO And Its GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-16 | 226 | 30.0 (13%) | 2024-09-16 |
**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 Limited IPO And Its GMP Details
| 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 Limited IPO And Its GMP Timeline
| 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 And Its GMP 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 And Its GMP Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 92.64% | - |
Competitive Strength:
- -
Tolins Tyres Limited IPO And Its GMP Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 221.6 | 228.69 | 26.01 | 100.53 | 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) | 11.45 | 6.58 |
| P/E (x) | 26.64 | 34.33 |
RHP:
DRHP:
Frequently asked Questions (FAQs )
-
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.
-
What is Tolins Tyres IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Tolins Tyres Issue Size?
Tolins Tyres' issue size is ₹230 crores.
-
What is the Tolins Tyres IPO Allotment Date?
Tolins Tyres IPO allotment date is September 12, 2024.
-
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.
