Last updated on September 16, 2024
Tolins Tyres IPO Description – 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.
Promoters of Tolins Tyres – Dr. Kalamparambil Varkey Tolin, and Jerin Tolin
Table of Contents
Tolins Tyres IPO Details
| Tolins Tyres IPO Dates | 9 – 11 September 2024 |
| Tolins Tyres Issue Price | INR 215 – 226 per share |
| Fresh issue | INR 200 crore |
| Offer For Sale | INR 30 crore |
| Total IPO size | INR 230 crore |
| Minimum bid (lot size) | 66 shares (INR 14,916) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
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 |
* All Standalone Data
Tolins Tyres Offer News
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 IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 14 September 2024 | 30 | – | 2,100 |
| 13 September 2024 | 30 | – | 2,100 |
| 12 September 2024 | 40 | – | 2,200 |
| 11 September 2024 | 40 | – | 2,200 |
| 10 September 2024 | 35 | – | 2,000 |
| 9 September 2024 | 30 | – | 1,500 |
| 7 September 2024 | 25 | – | 1,300 |
| 6 September 2024 | 27 | – | 1,400 |
| 5 September 2024 | 27 | – | 1,400 |
| 4 September 2024 | 30 | – | 1,500 |
Tolins Tyres IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the company – INR 69.97 crore
- Augmentation of long-term working capital requirements of the company – INR 75 crore
- Investment in its 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 – INR 23.15 crore
- General corporate purposes
Tolins Tyres IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 21,39,534 | 16,04,652 | 37,44,186 | 74,88,372 |
| 11 Sep 2024 | 25.42 | 27.30 | 20.66 | 23.45 |
| 10 Sep 2024 | 0.46 | 4.10 | 8.41 | 5.22 |
| 9 Sep 2024 | 0.12 | 0.83 | 3.17 | 1.80 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
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 |
Tolins Tyres IPO Allotment Status
Tolins Tyres IPO allotment status is now available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Tolins Tyres IPO Dates & Listing Performance
| IPO Opening Date | 9 September 2024 |
| IPO Closing Date | 11 September 2024 |
| Finalization of Basis of Allotment | 12 September 2024 |
| Initiation of refunds | 13 September 2024 |
| Transfer of shares to demat accounts | 13 September 2024 |
| Tolins Tyres IPO Listing Date | 16 September 2024 |
| Opening Price on NSE | INR 228 per share (up 0.88%) |
| Closing Price on NSE | INR 239.40 per share (up 5.93%) |
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Tolins Tyres Offer Lead Manager
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: [email protected]
Website: www.saffronadvisor.com
Tolins Tyres Offer 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: [email protected]
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: [email protected]
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 (know all about ASBA here). 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 IPO GMP today?
Tolins Tyres IPO GMP today is INR 30 per share.
What is Tolins Tyres kostak rate today?
Tolins Tyres kostak rate today is INR NA per application.
What is Tolins Tyres Subject to Sauda rate today?
Tolins Tyres Subject to Sauda rate today is INR 2,100 per application.
