Tolins Tyres IPO: From financials to GMP, here are 10 things to know before subscribing to the issue that opens soon

Tolins Tyres IPO: From financials to GMP, here are 10 things to know before subscribing to the issue that opens soon

Tolins Tyres IPO- 10 key things

1.Tolins Tyres IPO key details

The subscription period for Tolins Tyres IPO begins on September 9, 2024, and ends on September 11, 2024.

The IPO price band for Tolins Tyres had been set at ₹215 to ₹226 per share.

2. Tolins Tyres IPO subscription details

Tolins Tyres 66 Shares is the minimum lot size required for an application. Retail investors are needed to invest a minimum of ₹14,916.

The total issue size is10,176,992 shares of face value of ₹5, out pf which 8,849,558 shares are being issued fresh and may garner ₹200 crore. Another 1,327,434 shares of ₹5 face value being offered for sale and aggregate up to ₹30.00 Crore.

3. Tolins Tyres IPO lising details

On Thursday, September 12, 2024, the allotment for the Tolins Tyres IPO is anticipated to be completed. The BSE and NSE will list Tolins Tyres IPO, with a tentative listing date of Monday.

4. Tolins Tyres IPO- Objectives of the issue

The Tolins Tyres IPO, which is a ₹230.00 crore book constructed issue. The issue consists of an offer to sell 0.13 crore shares, valued at ₹30.00 crores, and a new issuance of 0.88 crore shares, valued at ₹200.00 crores.

The following objectives are to be funded from the Net Proceeds of the New Issue, according to the Company:

Repayment of the company's current debt, which it obtained from scheduled commercial banks.

Investment in Tolin Rubbers Private Limited, a wholly owned subsidiary, for general corporate objectives and to repay and/or redeem, in full, some of its short- and long-term borrowings and for meeting its working capital requirements.

Financing and supporting the company's general corporate objectives as well as its working capital needs.

5. About Tolins Tyres Limited

Tolins Tyres Limited is a tyre manufacturer that was incorporated in 2003. The company sells to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt, and offers tire retreading services in India.

Two verticals can be used to categorize the company's operations:

Tyre production is one while the other is tread rubber production

6. Tolins Tyres Limited Financials

Tolins Tyres revenues stood at ₹228.69 crore during FY25 while its net profit stood at ₹100.53 crore

The Return on Equity (RoE) stood at 25.87% while debt equity ratio was at 0.78 times at the end of FY24.

7. Tolins Tyres Limited peers

Indag Rubber Ltd. Vamshi Rubber Ltd, Tvs Srichakra Ltd, GRP Ltd. Elgi Rubber Company Limited are some of the listed peers of Tolins Tyres

8.Tolins Tyres IPO: Registars of the issue

The registrant of the Tolins Tyres IPO is Cameo Corporate Services Limited, and the book running lead manager is Saffron Capital Advisors Private Limited.

9. Tolins Tyres IPO promoters

Jerin Tolin and Kalamparambil Varkey Tolin are the promoters of the Tolins Tyres limited

10 Tolins Tyres IPO -GMP or Grey Market premium

Tolins Tires' portion of the grey market premium was +25. Put differently, according to investorgain.com, the Tolins Tyres share was trading for ₹25 higher than the issue price.

The market therefore expects Tolins Tyres to list at ₹251, 11.06% or ₹25 more than the issue price's upper band of ₹226.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.