Tolins Tyres’ IPO will open for subscription on 09 September 2024. The company aims for an issue size of ₹230 Cr through this IPO.
Company Overview
| Full name | Tolins Tyres Limited |
| Sector | Automobile & Ancillaries |
| Industry | Tyres & Allied |
| Company Website | https://www.tolinstyres.com/ |
About Company
Tolins Tyres specializes in producing a wide range of bias tyres tailored for various vehicles, including light commercial, agricultural, and two/three-wheeler types. Alongside these, they also manufacture pre-cured tread rubber and additional products like bonding gum, vulcanizing solution, tyre flaps, and tubes. Tolins Tyres is a thriving and profitable company in the retreading and tyre manufacturing industry. Between Fiscal 2022 (standalone) and Fiscal 2024 (consolidated), the company’s Profit after Tax has impressively grown at a compound annual growth rate (CAGR) of 541.98%. The company has solidified its position as a leading tyre retreading solutions provider across India and exports its products to 40 foreign countries, including markets in the Middle East, East Africa, Jordan, Kenya, and Egypt.
As of 31 March 2024, the company operates a network of 8 depots and 3,737 dealers across India. Tolins Tyres runs its operations from three manufacturing facilities, with two located in Mattoor, Kalady, Kerala, and the third situated in the Al Hamra Industrial Zone in Ras Al Khaimah, UAE.
The Objectives of the Issue
- 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; and
- General corporate purposes.
Tolins Tyres IPO Timetable
| IPO Opening date | 09 September 2024 |
| IPO Closing | 11 September 2024 |
| Basis of Allotment | 12 September 2024 |
| Initiation Refund | 13 September 2024 |
| Credit to Demat Account | 13 September 2024 |
| Listing Date | 16 September 2024 |
Tolins Tyres IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹230 Cr – 10,176,992 shares |
| Fresh Issue | ₹200 Cr – 8,849,558 shares |
| Offer for sale | ₹30 Cr – 1,327,434 shares |
| Face value | ₹05 per share |
| Price Band | ₹215 to ₹226 per share |
| Lot size | 66 Shares |
| Shareholding pre-issue | 30,659,272 |
| Shareholding post-issue | 39,508,830 |
| Listing Exchange | BSE & NSE |
Tolins Tyres 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 Offer Documents
Tolins Tyres IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Tolins Tyres Financial Performance
| FY 2022* | FY 2023* | FY 2024 | |
| Revenue | 113.37 | 118.25 | 227.22 |
| Expenses | 113.53 | 112.65 | 195.80 |
| Net income | 0.63 | 4.99 | 26.01 |
| Margin (%) | 0.56 | 4.22 | 11.45 |
Tolins Tyres Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 0.35 | 2.55 | 9.52 | 6.58 |
| PE Ratio | – | – | 22.58 – 23.74 | 32.66 – 34.33 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 5.83 | 25.70 | 25.87 |
| NAV | 5.98 | 9.92 | 36.80 |
| ROCE (%) | 14.80 | 31.49 | 36.08 |
| EBITDA (%) | 5.37 | 10.37 | 20.41 |
| Debt/Equity | 4.51 | 2.42 | 0.78 |
Tolins Tyres – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Tolins Tyres | 34.33 | 9.52 | 28.87 | 36.80 | 227.22 |
| Indag Rubber | 39.94 | 6.15 | 6.79 | 87.46 | 251.19 |
| Vamshi Rubber | 27.94 | 1.87 | 4.46 | 32.54 | 77.42 |
| TVS Srichakra | 33.76 | 140.98 | 9.70 | 1,451.55 | 2,926.00 |
| GRP Ltd | 24.07 | 169.78 | 13.58 | 1,250.57 | 461.38 |
| Elgi Rubber Company | 45.12 | 2.33 | 6.15 | 37.91 | 386.45 |
Company Promoters
- Kalamparambil Varkey Tolin
- Jerin Tolin
Promoter Holding
| Pre Issue Share Holding | 92.64% |
| Post Issue Share Holding |
Tolins Tyres Offer GMP Update
Coming Soon
Tolins Tyres IPO Subscription Update
Coming Soon
Tolins Tyres IPO Allotment Status
Tolins Tyres IPO allotment status will be available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Tolins Tyres IPO Listing Details
| Listing Date | 16 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | BSE & NSE |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
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| Last Trade |
Tolins Tyres IPO Lead Manager(s)
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, SiXlh Floor, Centre Pont, Andheri-Kura Road,
J. B. Nagar, Andheri (East), Mumbai – 4 00 059, Maharashtra
Phone: +91 22 49730394
Email: ipos@saffronadvisor.com
Website: www.saffronadvisor.com
Tolins Tyres Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91 44 4002 0700
Email: ipo@cameoindia.com
Website: www.cameoindia.com
Tolins Tyres Contact Details
TOLINS TYRES LIMITED
No. 1/47, M C Road, Kalady,
Ernakulam, Aluva – 683 574, Kerala, India
Phone: +91 72592 87215
Email: cs@tolins.com
Website: www.tolinstyres.com
Tolins Tyres IPO FAQs
How many shares in Tolins Tyres IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Tolins Tyres Public Offer?
The best way to apply for Tolins Tyres public offer is through Internet banking ASBA . You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Tolins Tyres Offer GMP today?
Tolins Tyres IPO GMP today is ₹ 25 per share.
What is Tolins Tyres kostak rate today?
Tolins Tyres kostak rate today is ₹ NA per application.
What is Tolins Tyres Subject to Sauda rate today?
Tolins Tyres Subject to Sauda rate today is ₹ 1,300 per application.
Final thoughts
Tolins Tyres IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
