Tolins Tyres Ltd IPO subscription starts on Monday, September 9 and ends on Wednesday, September 11, 2024. Anchor Investor bid will be held on Friday, September 6. The IPO is book built issue of Rs. 230 Crores. The issue is combination of fresh issue of 0.88 crore equity share and offer for sale of 0.13 crore equity shares.
Tolins Tyres Ltd IPO price band set to Rs. 215 to Rs.140 per equity shares. The equity shares have a face value of Rs. 5 each. The minimum order quantity of the issue is 66 equity shares. The minimum amount of investment required ₹ 14,916 (1lot) and maximum amount of investment required ₹ 1,93,908 (13 lots) for retail investors. The minimum bid size of investment required ₹ 2,08,824 (14 lots) and maximum bid size of investment required ₹ 9,99,372 (67 lots) for sHNI investors.
The allotment for the Tolins Tyres Ltd IPO is expected to be finalized on Thursday, September 12, 2024. Tolins Tyres Ltd IPO will list on both NSE & BSE with tempting listing date fixed as Monday, September 16, 2024.
The company has reserved 50% shares of the issue for QIB’s (Qualified Institutional Buyers), 15% for NII’s (Non-institutional Investors) and 35% for Retail.
Saffron Advisors Private Limited is book running lead manager. Axis Bank Limited is sponsor bank to the IPO. Samco Corporate Services Limited is registrar to the issue.
Tolins Tyres Limited Financial Information –
| Particulars | March 31, 2024 |
| Net Worth | 100.53 |
| Revenue | 228.6 |
| Net Profit | 26 |
| EBITDA Margin | 20.41% |
| Total Borrowing | 78.72 |
Risk Factor –
- Company’s Subsidiaries has reported negative cash flow in the past.
- There are certain outstanding legal proceedings involving on Promoters.
Objects of the issue –
Objects of the Fresh Issue towards funding the following objects:
- Repayment and / or prepayment, in full, of certain outstanding loans
availed by our Company; - Augmentation of long-term working capital requirements of our Company;
- Investment in our 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.
About Tolins Tyres Limited –
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:
- Tyre manufacturing and
- Tread Rubber manufacturing.
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