Tolins Tyres
Mainboard₹14,916 / 66 Shares
IPO Details
Tolins Tyres IPO is priced between ₹215-226 per equity share, with a face value of ₹5 per share. The company's equity shares will be listed on the Mainboard, and Cameo Corporate Services Limited is managing the issue as the registrar.
The IPO bidding period opened on 9 Sep, 2024, and closed on 11 Sep, 2024. The allotment results will be announced on 12 Sep, 2024, with a tentative listing date set for 16 Sep, 2024.
The total issue comprises Total ₹230.0 Cr :#Fresh Issue : 8,849,558 shares, amounting to ₹200.0 Cr.
Tolins Tyres IPO Highlights
| IPO Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
|---|---|---|---|---|---|---|---|
| Sep 9, 2024 - Sep 11, 2024 | 16 Sep, 2024 | ₹5 Per Equity Share | ₹215-226 per equity share | 66 Shares | 8,849,558 Shares | 1,327,434 shares of ₹5 | BSE, NSE |
Tolins Tyres IPO Timeline
Issue Price
₹215-226 per equity shareFace Value
₹5 Per Equity ShareListing at Group
BSE, NSERegistrar
Cameo Corporate Services LimitedMarket Lot
Retail: 66 Shares (₹14,916/-)S-HNI: 924 Shares (₹2,08,824/-)
B-HNI: 4,488 Shares (₹10,14,288/-)
Lead Manager
Saffron Capital Advisors Private LimitedIssue Size
Total ₹230.0 Cr :#Fresh Issue : 8,849,558 shares(aggregating up to ₹200.0 Cr) +
#OFS : 1,327,434 shares of ₹5(aggregating up to ₹30.0 Cr)
Retail Portion
35% (Number of Retail Applications: 53,969 Approx),(Number of S-HNI Applications : 551 Approx),(Number of B-HNI Applications : 1,101 Approx)Subscription
23.49 timesTolins Tyres IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 24 | 221.6 | 228.69 | 26.01 | 100.53 | 85.07 | 78.77 |
| 31 Mar 23 | 83.82 | 119.68 | 4.99 | N/A | N/A | N/A |
| 31 Mar 22 | 99.14 | 114.39 | 0.6 | N/A | N/A | N/A |
All values are in ₹ Cr.
Tolins Tyres IPO Valuations
EPS PRE IPO ₹8.48/- | EPS POST IPO ₹6.58/- | PE PRE IPO 26.64 | PE POST IPO 34.33 | ROE 25.87% |
ROCE 36.08% | DEBT EQUITY 0.78 | RONW 25.87% | PAT MARGIN 11.45 | PRICE TO BOOK VALUE 6.14 |
About Company
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:
Tyre manufacturing and
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.
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.
Tolins Tyres IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 2,035,398 | 1,526,549 1,017,699 508,850 | 3,561,947 | 7,123,894 |
| Day 1 - 09-09-24 05:00 PM | 0.12 x | 0.83 0.44 x 1.60 x | 3.15 x | 1.79 x |
| Day 2 - 10-09-24 05:00 PM | 0.45 x | 4.07 2.90 x 6.41 x | 8.39 x | 5.19 x |
| Day 3 - 11-09-24 05:00 PM | 25.42 x | 27.32 25.11 x 31.74 x | 20.74 x | 23.49 x |
Retail:24.48x
BHNI:5.36x
SHNI:31.96x times
Tolins Tyres IPO - Issue Objectives
- Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company
- Augmentation of long-term working capital requirements of the company
- 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
- General corporate purposes.
Tolins Tyres
No. 1/47, M C Road, Kalady, Ernakulam, Aluva - 683574Cameo Corporate Services Limited