Tolins Tyres IPO listing date today; GMP, experts signal a positive debut of shares on BSE, NSE

Tolins Tyres IPO Listing: The initial public offering (IPO) of Tolins Tyres Ltd received decent response from investors. After being heavily subscribed, Tolins Tyres IPO listing date is fixed for today.

The public issue was opened from September 9 to 11 and Tolins Tyres IPO listing date is today, September 16.

“Trading Members of the Exchange are hereby informed that effective from Monday, September 16, 2024, the equity shares of Tolins Tyres Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities,” said a BSE notice.

Tolins Tyres shares will be a part of Special Pre-open Session (SPOS) and will be available for trading from 10:00 am.

Ahead of the Tolins Tyres share listing today, investors watch out for the latest trends in the Tolins Tyres IPO GMP today, or grey market premium today.

Tolins Tyres IPO GMP today signals a positive listing for Tolins Tyres shares. Analysts also expect Tolins Tyres share price to open with decent gains on the stock market debut.

Tolins Tyres IPO GMP Today

Tolins Tyres IPO GMP today ahead of the listing is ₹30 per share, according to stock market observers. This indicates that Tolins Tyres shares are trading higher by ₹30 in the grey market than their issue price.

Tolins Tyres IPO Listing Price

Considering the Tolins Tyres IPO GMP today and the issue price, the estimated Tolins Tyres IPO listing price is ₹256 per share, a premium of 13.27% to the IPO price of ₹226 per share.

Analysts also expect Tolins Tyres IPO listing gains in the range of 15% to 18%.

“Tolins Tyres Ltd attracted healthy investor interest during the subscription period, with the issue being oversubscribed by 25 times. The company is all set to make its debut in the market on 16th September. We expect a listing gain of 18% on the back of a healthy subscription rate,” said Sagar Shetty, Research Analyst, StoxBox.

On account of favorable macro trends, the company is expected to ride on the sectoral tailwinds and capitalize on market opportunities, Shetty added.

“Thus, we advise the participants who have been allocated with the shares to hold it from a medium to long term perspective,” Shetty said.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities Ltd expects Tolins Tyres IPO listing at a premium of around 15% to the issue price.

“Tolins Tyres will debut on the exchanges on Monday, September 16, following a robust IPO response, which closed on September 11. The IPO was subscribed 23.89 times, with retail investors subscribing 21.52 times, NIIs 27.41 times, and QIBs 25.42 times. This strong demand has pushed the grey market premium (GMP) to ₹35, suggesting a listing price around ₹260. Investors are keenly watching for significant listing gains,” Jain said.

Tolins Tyres IPO Details

The bidding for Tolins Tyres IPO began on Monday, September 9, and ended on Wednesday, September 11. The IPO allotment was finalized on September 12 and the Tolins Tyres IPO listing date is today, September 16.

Tolins Tyres IPO price band is set at ₹215 to ₹226 per share and the company raised ₹230 crore from the issue which comprised of a combination of fresh issue of 88.49 lakh equity shares worth ₹200 crore and an offer-for-sale (OFS) component of 13.27 lakh shares aggregating to ₹30 crore.

Tolins Tyres IPO was subscribed 23.89 times in total. The retail investors category was subscribed 21.52 times, Non-Institutional Investors (NII) category by 27.41 times, and Qualified Institutional Buyers (QIBs) portion was booked 25.42 times.

Saffron Capital Advisors is the book running lead manager of the Tolins Tyres IPO, while Cameo Corporate Services is the IPO registrar.

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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.