Get the latest updates on Tolins Tyres IPO, including date, price, allotment details, and more
Tolins Tyres has published that its IPO is going to be open on 9th September and will end on 11th September. It is an India-based manufacturer specializing in high-quality tires for various vehicles, including trucks, buses, and off-road applications. It aims to gather INR 230.00 crores consisting of fresh issues of INR 200.00 crores and offer for sale up to 1,327,434 equity shares with the price band of INR 215 to INR 226 per share.
Table of Contents
- Company Overview
- Company Strategy
- Details on IPO Date and Price Band
- IPO Objective
- Market Lot Information on Tolins Tyres IPO
- Allotment Dates for Tolins Tyres IPO
- Application Process of IPO
- Financial Analysis of Company
- IPO Valuation
- Competitor Analysis
- Registrar for Tolins Tyres IPO
- Offer Lead Manager
- Company Address
Company Overview
Tolins Tyres is an Indian-based company that produces tires for automobiles and is especially popular due to its high-quality tire production line for commercial vehicles, cars, SUVs, and Jeeps. Launched in 1982, the company has expanded and is now recognized as one of the players in the automotive market, providing long-lasting and high-quality tires that meet various market demands. Recognizing the importance of innovation, Tolins Tyres also uses modern technology in its production lines for reliability, durability, and safety. It operates in the domestic and export markets and focuses on the transport, construction, and agricultural sectors about environmental concerns and customer needs.
Company Strategy
Tolins Tyres targets the provision of high-quality tires targeting the commercial and off-road vehicle sectors with the application of modern production technologies. It specifies product development, quality assurance, and cost-reduction strategies to address consumer demands. The organizational development plan is to strengthen its corporate presence in all the necessary world markets, improve distribution channels, and focus on environmentally friendly steps. Tolins Tyres expects to foster its suppliers and customers to achieve increased sales both regionally and globally contributing to the company’s sustained profitability and customer loyalty.
Details on IPO Date and Price Band
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Face Value: | INR 5 Per Equity Share |
| IPO Price Band: | INR 215 to INR 226 Per Share |
| Issue Size: | Approx INR 230 Crores |
| Fresh Issue: | Approx INR 200 Crores |
| Offer for Sale: | Approx 1,327,434 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
IPO Objective:
The IPO aims to repay or prepay specific outstanding loans, and foreclosure charges and also plans to meet incremental long-term working capital needs along with investing in its wholly-owned subsidiary Tolin Rubbers Private Limited to redeem/ prepay short-term as well as long-term borrowings. The company also aims to support the working capital of its subsidiary and other incidental corporate requirements to improve the overall financial health and growth of the business.
Market Lot Information on Tolins Tyres IPO
The lot size and corresponding amounts are as follows:
- Retail Minimum: 1 lot (66 shares) for INR 14,916
- Retail Maximum: 13 lots (858 shares) for INR 193,908
- S-HNI Minimum: 14 lots (924 shares) for INR 208,824
- B-HNI Minimum: 68 lots (4,488 shares) for INR 1,014, 288
Allotment Dates for Tolins Tyres IPO
Tolins Tyres IPO open date is September 9 and the IPO close date is September 911. The IPO allotment date is September 12 and the listing date is September 16.
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Basis of Allotment: | September 12, 2024 |
| Refunds: | September 13, 2024 |
| Credit to Demat Account: | September 13, 2024 |
| IPO Listing Date: | September 16, 2024 |
Application Process of IPO
The IPO can be accessed by submitting an application through the online ASBA (Application Supported by Blocked Amount) facility from the bank through ‘Internet banking’, going to ‘Invest’, and applying for the Tolins Tyres. On the other hand, the IPO forms are also available for download on the NSE websites which the candidates can fill and submit.
Financial Analysis of the Company
Financials in INR Crores.
| Year | Revenue | Expense | Profit After Tax | Assets |
| 2024 | 228.69 | 195.80 | 26.01 | 221.60 |
In 2024, the company generated INR 228.69 crores in revenue, with expenses of INR 195.80 crores, resulting in a profit after tax of INR 26.01 crores. Its total assets stood at INR 221.60 crores, indicating strong financial health with profitability driven by controlled expenses and efficient asset management.
IPO Valuation (FY 2024)
The company’s EPS stands at a value of INR 9.52 with a Return on Net Worth (RoNW) of 25.87% and a Net Asset Value (NAV) per share of INR 36.80 in the financial year 2024. The IPO price band ranges from INR 215 to INR 226 per share to raise INR 230.00 crores to repay outstanding loans, enhance working capital, invest in its subsidiary Tolin Rubbers, and address general corporate purposes for financial stability and growth.
| Earnings Per Share (EPS): | INR 9.52 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 25.87% |
| Net Asset Value (NAV): | INR 36.80 |
Competitor Analysis
Here is the competitor of Tolins Tyres:
ndag Eibber Limited
Indag Rubber Limited was founded in 1978, and it is based in India to produce retreading materials, improve the quality of commercial vehicle tires, and reduce overall costs significantly. Thus, the firm focuses on tread rubber, bonding gum, and other necessary products for tire retreading that decrease operating expenses and boost sustainability. It mainly operates in the domestic market, but it has also constructed a successful brand in the global market by providing innovative solutions and excellent customer satisfaction. The company applies various innovative technologies in the manufacturing of its products to serve the transportation and logistics industry for improved tire performance and durability.
TVS Srichakra Limited
TVS Srichakra Limited is an Indian tire manufacturer company and a subsidiary of TVS group, manufacturing motorcycle, scooter, and commercial vehicle tires and tubes. It was founded in 1982 and has been famous for its extensive variety of high-quality and long-lasting home appliance products that can be either exported or sold domestically. TVS Srichakra has a strategic roadmap based on innovation, technology, and sustainability for improving performance along with safety. To support its goals, the company has a strong distribution system that will address different customer demands and foster expansion in the automotive tire industry.
Vamshi Rubber Limited
Vamshi Rubber Limited is a leading rubber manufacturing company in India that is committed to the production and supply of high-quality tread rubber for commercial vehicles. Set in 1993, the company majors in offering economical and high-quality products for the prolonged service of tires & reduction of expenses. The company deals with a broad base of customers both locally as well as overseas with their business slogan ‘Innovate to Deliver, Ensure Quality, and Embrace Environment’. Thus, being equipped with a robust distribution network, the retreading company focuses on the transportation and logistics industries.
GRP Ltd
GRP Ltd is engaged in the manufacturing of quality rubber products such as tires and industrial rubber products. Founded in 1974, the company has main specialization in manufacturing long-lasting and unique products for different industries including automotive, construction, and agriculture industries. The company targets and caters to clients from both domestic and international markets focusing on technology, quality, and the environment. The strategic commitment of GRP Ltd is to improve product performance and satisfy varying customers’ demands pertains to the establishment of the corporation offering diversified rubber products and services.
Elgi Rubber Company Limited
ERCL, Elgi Rubber Company Limited was founded in the year 1950 and involved in rubber manufacturing originating from India, specializing in offering quality rubber products such as tires, tubes, and retreading chemicals. A well-recognized company focused on innovations and applying advanced technologies, the company offers software for autos, industries, and farming. As a leading company in the manufacturing and supply of rubber products, Elgi Rubber targets durability, performance, and sustainability in their products, across domestic and global markets. Having fulfilled its mission of focusing on quality and customers, it has become one of the leading companies operating in the rubber industry.
Tolins Tyres IPO Registrar
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Offer Lead Manager
Saffron Capital Advisors Private
Saffron Capital Advisors Pvt. Ltd is an Indian financial advisory firm providing investment banking, mergers and acquisitions (M&A), and corporate finance services in India. Focused on providing strategic advisory and financial solutions, the company specializes in capital-raising business valuations as well as financial restructuring for its clients. Saffron Capital Advisors is a standalone investment bank with business lines that cut across different financial institutions and high-net-worth individuals to offer customized solutions created for specific growth opportunities and value creation. The company has experience in many different industries to create a complete and efficient financial plan.
Conclusion
Tolins Tyres’ upcoming IPO, scheduled from September 9 to 11, 2024, presents a compelling opportunity for investors. With a price band of INR 215 to INR 226 per share, the company aims to raise approximately INR 230 crores to enhance its financial stability and growth. Investors can participate in this book-built issue to support Tolins Tyres’ strategic goals, including debt repayment and expansion of its subsidiary. For detailed information on the allotment, application process, and market lot, stay updated through reliable financial news sources and the official IPO website.
