Bookbuilding IPO | ₹230 Cr | Listed at BSE, NSE | Mon, Sep 9, 2024 - Wed, Sep 11, 2024
Tolins Tyres IPO is a book build issue of ₹230.00 crores. The issue is a combination of fresh issue of 0.88 crore shares aggregating to ₹200.00 crores and offer for sale of 0.13 crore shares aggregating to ₹30.00 crores.
Tolins Tyres IPO bidding started from Sep 9, 2024 and ended on Sep 11, 2024. The allotment for Tolins Tyres IPO was finalized on Sep 12, 2024. The shares got listed on BSE, NSE on Sep 16, 2024.
Tolins Tyres IPO price band is set at ₹226 per share. The lot size for an application is 66. The minimum amount of investment required by an retail is ₹14,916 (66 shares) (based on upper price). The lot size investment for sNII is 14 lots (924 shares), amounting to ₹2,08,824, and for bNII, it is 68 lots (4,488 shares), amounting to ₹10,14,288.
Saffron Capital Advisors Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue.
Refer to Tolins Tyres IPO RHP for detailed Information.
IPO Open
Mon, Sep 9, 2024
IPO Close
Wed, Sep 11, 2024
Issue Price
₹226 per share
Market Cap (Pre-IPO)
₹892.90 Cr
| IPO Date | 9 to 11 Sep, 2024 |
| Listed on | Mon, Sep 16, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹215 to ₹226 |
| Issue Price | ₹226 per share |
| Lot Size | 66 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,01,76,991 shares (agg. up to ₹230 Cr) |
| Fresh Issue | 88,49,559 shares (agg. up to ₹200 Cr) |
| Offer for Sale | 13,27,432 shares of ₹5 (agg. up to ₹30 Cr) |
| Share Holding Pre Issue | 3,06,59,272 shares |
| Share Holding Post Issue | 3,95,08,830 shares |
| BSE Script Code / NSE Symbol | 544254 / TOLINS |
| ISIN | INE0RWQ01014 |
Tolins Tyres IPO offers total 1,01,76,991 shares. Out of which 50,88,495 (50.00%) allocated to QIB, 20,35,398 (20.00%) allocated to QIB (Ex- Anchor), 15,26,549 (15.00%) allocated to NII 35,61,947 (35.00%) allocated to RII and 30,53,097 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 50,88,495 (50.00%) | NA |
| − Anchor Investor Shares Offered | 30,53,097 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 20,35,398 (20.00%) | NA |
| NII (HNI) Shares Offered | 15,26,549 (15.00%) | NA |
| − bNII > ₹10L | 10,17,699 (10.00%) | 1,101 |
| − sNII < ₹10L | 5,08,850 (5.00%) | 550 |
| Retail Shares Offered | 35,61,947 (35.00%) | 53,968 |
| Total Shares Offered | 1,01,76,991 (100.00%) |
Investors can bid for a minimum of 66 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 66 | ₹14,916 |
| Retail (Max) | 13 | 858 | ₹1,93,908 |
| S-HNI (Min) | 14 | 924 | ₹2,08,824 |
| S-HNI (Max) | 67 | 4,422 | ₹9,99,372 |
| B-HNI (Min) | 68 | 4,488 | ₹10,14,288 |
Tolins Tyres IPO raises ₹69.00 crore from anchor investors. Tolins Tyres IPO Anchor bid date is September 6, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 6, 2024 |
| Shares Offered | 30,53,097 |
| Anchor Portion (₹ Cr.) | 69.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 12, 2024 |
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.
As of March 31, 2024, the company operated 8 depots and had 3,737 dealers nationwide.
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.
The company has obtained various quality certifications such as ISO 9001:2015, IATF 16949:2016 issued by UK Certifications.
The company's clientele includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. etc. for products.
As of March 31, 2024, the company has developed 163 new designs and products and has also created moulds for them.
As of March 31, 2024, the company's sales and marketing team comprised 55 employees, including contract workers who reported to the Chairman and Managing Director.
| Period Ended | 31 Mar 2024 |
|---|---|
| Assets | 221.60 |
| Total Income | 228.69 |
| Profit After Tax | 26.01 |
| NET Worth | 100.53 |
| Reserves and Surplus | 85.07 |
| Total Borrowing | 78.77 |
| Amount in ₹ Crore | |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and / or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company; | 69.97 |
| 2 | Augmentation of long-term working capital requirements of the Company; | 75.00 |
| 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; and | 23.15 |
| 4 | General corporate purposes | 15.68 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 25.87% |
| ROCE | 36.08% |
| Debt/Equity | 0.78 |
| RoNW | 25.87% |
| PAT Margin | 11.45% |
| Price to Book Value | 6.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.48 | 6.58 |
| P/E (x) | 26.64 | 34.33 |
| Promoter Holding | 92.64% | 68.53% |
| Market Cap | ₹892.90 Cr. |
The Tolins Tyres IPO is subscribed 25.03 times on September 11, 2024 6:19:09 PM (Day 3). The public issue subscribed 22.45 times in the retail category, 26.72 times in the QIB category, and 28.8 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 26.72 | 20,35,398 | 5,43,83,274 |
| NII | 28.8 | 15,26,549 | 4,39,71,774 |
| bNII (bids above ₹10L) | 26.39 | 10,17,699 | 2,68,58,634 |
| sNII (bids below ₹10L) | 33.63 | 5,08,850 | 1,71,13,140 |
| Retail | 22.45 | 35,61,947 | 7,99,83,420 |
| Total | 25.03 | 71,23,894 | 17,83,38,468 |
Total Application : 13,59,828
Note: Restated Standalone Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 83.82 | 99.14 |
| Revenue | 119.68 | 114.39 |
| Profit After Tax | 4.99 | 0.63 |
| Net Worth | 8.25 | 6.98 |
| Reserves and Surplus | 14.41 | 9.42 |
| Total Borrowing | 47.03 | 48.87 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees and commissions (including underwriting commission, brokerage and selling commission) | 11.25 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Banker to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Syndicate member, Registered Brokers, RTAs and CDPs(1)(2)(3)(4) | 2.32 |
| 3 | Fees payable to the Registrar to the Offer | 0.02 |
| 4 | Fees payable to the other advisors to the Offer | 0.73 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses. | 1.22 |
| 6 | Printing and stationery expenses | 0.35 |
| 7 | Advertising and marketing expenses | 0.99 |
| 8 | Fees payable to legal counsels | 0.40 |
| 9 | Miscellaneous | 1.36 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹226.00 | ₹226.00 |
| Open | ₹227.00 | ₹228.00 |
| Low | ₹226.50 | ₹227.50 |
| High | ₹238.30 | ₹239.40 |
| Last Trade | ₹238.30 | ₹239.40 |
Lead Manager Reports
Tolins Tyres IPO is a main-board IPO of 1,01,76,991 equity shares of the face value of ₹5 aggregating up to ₹230 Crores. The issue is priced at ₹226 per share. The minimum order quantity is 66.
The IPO opens on Mon, Sep 9, 2024, and closes on Wed, Sep 11, 2024.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Tolins Tyres IPO using UPI as a payment gateway. Zerodha customers can apply in Tolins Tyres IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tolins Tyres IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tolins Tyres IPO opens on Mon, Sep 9, 2024 and closes on Wed, Sep 11, 2024.
Tolins Tyres IPO lot size is 66, and the minimum amount required for application is ₹14,916.
You can apply in Tolins Tyres IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tolins Tyres IPO will be done on Thursday, September 12, 2024, and the allotted shares will be credited to your demat account by Fri, Sep 13, 2024. Check the Tolins Tyres IPO allotment status.
The Tolins Tyres IPO listing date is on Mon, Sep 16, 2024.
