September 16, 2024
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Tolin Tyres IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com,
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What is the latest news relating to Tolin Tyres IPO?
On 16th September 2024, the scrip is listed at Rs. 228, premium of 0.88% over the issue price. The listing is quite disappointment to the grey market players, who anticipated listing at Rs. 256.
What is the latest GMP of Tolin Tyres IPO?
GMP Rs. 30
Tolin Tyres IPO Subscription Status
Tolins Tyres IPO Subscriptions (Day 2)Price Rs. 226 Lot 66 shares, Rs. 230 Crore |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 26.72 | 26.39 | 33.63 | 28.80 | 22.45 | 25.03 |
| Applications: 13,59,828 / (25.20x) Amount wise Bids recd. Rs. ? Crore |
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The Promoters of the company are Kalamparambil Varkey Tolin and Jerin Tolin
What are the Objects of Tolin Tyres IPO?
The Offer comprises of the Fresh Issue and the Offer for Sale.
The Company proposes to utilise 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;
Augmentation of long-term working capital requirements of the company;
Investment in the 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
What is the business of Tolin Tyres?
Tolin Tyres is one of the leading players in the industry with all India presence with a diverse product range. It is one of the companies that are present in both verticals – manufacturing of new tyres and tread rubber. The Company has established itself as a major tyre retreading solutions provider across India and exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya and Egypt. The major products of the Company include two wheeler, three- wheelers, light commercial vehicle and agricultural tyres, precured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc. It is primarily engaged in manufacturing of bias tyres for comprehensive array of vehicles (including light commercial, agricultural and two/three-wheeler vehicles) and precured tread rubber and is also involved in manufacturing of ancillary products like bonding gum, vulcanizing solution, tyre flaps and tubes.
Under the “Tolins Tyres” brand, it markets and sells tyres for use in light commercial vehicles, agricultural vehicles and two/three-wheeler vehicles, primarily in India and export to the Middle East, the ASEAN region, and Africa. The Company has established itself as a major tyre retreading solutions provider across India and exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya and Egypt.
For more information, click https://www.tolinstyres.com/
Tolin Tyres IPO GMP grey market premium, review, Subscription, allotment, listing
Tolin Tyres IPO Details |
|
| IPO opens on | 9 September 2024 |
| IPO closes on | 11 September 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 10176991 Shares / Rs 230 Crore |
| * Fresh Issue | 8849558 Shares / Rs 200 Crore |
| * Offer for Sale | 1327433 Shares / Rs 30 Crore |
| Face Value per share: | Rs. 5 |
| Price Band | Rs. 215-226 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 66 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Tolin Tyres? | Shares | Rs. in Cr |
| QIB (50 %) | ? | ? |
| NII (15 %) | ? | ? |
| RII (35 %) | ? | ? |
| Bajaj Shareholders 10% | – | – |
| Total Shares | ? | ? |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in Tolin Tyres IPO? | Amount Rs. |
|
| Min Retail Application | 66 Shares | 14916 |
| Max Retail Application | 858 Shares | 193908 |
| Small HNI (Min) application | 924 Shares | 208824 |
| Small HNI (Max) application | 4422 Shares | 999372 |
| Big HNI Application | 4488 Shars | 1014288 |
What is the timetable of Tolin Tyres IPO? |
|
| IPO opens on | 9 September 2024 |
| IPO Closes on | 11 September 2024 |
| IPO Allotment on | 12 September 2024 |
| Unblocking of ASBA | 13 September 2024 |
| Credit of Shares | 13 September 2024 |
| Listing on | 16 September 2024 |
| Registered Office of the company | |
| Tolins Tyres Limited No. 1/47, M C Road Kalady, Ernakulam Aluva – 683574 |
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| Lead Managers of the IPO Saffron Capital Advisors Private Limited |
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| Registrar to IPO | |
| Cameo Corporate Services Limited |
Tolin Tyres IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | – | |||
| 2022-23 | – | |||
| 2023-24 | 229 | 26.01 | 9.52 | 25.87 |
| Book Value of the Share on 31.03.2024 |
Rs. | 36.80 | ||
| BV of the Share after the IPO |
Rs. | 84.52 | ||
| Offer Price at Cap | Rs. | 226 | ||
Tolin Tyres IPO
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|
| Price /EPS | 23.73 |
| Price/Book Value Ratio | 6.14 |
| Price/BV after IPO | 2.67 |
How Tolin Tyres IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Tolin Rubber | 5 | 227 | 23.73 |
| Indag Rubber | 2 | 251 | 39.94 |
| Vamsi Rubber | 10 | 77 | 27.94 |
| TVS shrichakra | 10 | 2926 | 33.76 |
| GRP ltd | 10 | 461 | 24.07 |
| Elgi rubber | 1 | 386 | 45.12 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Tolin Tyres IPO Review
This is the much-awaited IPO. Once the price band is finalized, we will provide our guidance.
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