Tolins Tyres was incorporated on July 10, 2003. The company manufactures bias tyres for a wide range of vehicles, including light commercial, agricultural, and two/three-wheelers. It also produces precured tread rubber and ancillary products like bonding gum, vulcanizing solutions, tyre flaps, and tubes.
| Bidding Dates |
|---|
| 09 Sep 2024 - 11 Sep 2024 |
| Subscription |
|---|
| 23.9x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,190 | 1 | 13 | 66 | 10.2 M | ₹215 - ₹226 | 68.53 % | ₹2188.1 M - ₹2300.0 M | RHP DOC |
Tolins Tyres Ltd. IPO SUBSCRIPTION STATUS
11 Sep '24Tolins Tyres Ltd. IPO overall subscription rate was 23.9 times the total available shares
Tolins Tyres Ltd. IPO retail subscription rate was 21.53 times in the retail segment
Tolins Tyres Ltd. IPO non-institutional investor subscription rate was 27.41 times in the non-institutional investor category
Tolins Tyres Ltd. IPO Qualified Institutional Bidder subscription rate was 25.42 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
11 Sep 2024 (Day 3) | 21.53x | 27.41x | 25.42x |
10 Sep 2024 (Day 2) | 8.41x | 4.1x | 0.46x |
09 Sep 2024 (Day 1) | 3.16x | 0.83x | 0.12x |
Tolins Tyres Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 260.1 | 2,272.2 | -35.9 | -69.3 | 20.4% |
| FY23 | 49.9 | 1,182.5 | 18.2 | -67.4 | 10.4% |
| FY22 | 6.3 | 1,133.7 | 25.3 | 17.3 | 5.4% |
Note: In the above table, FY24 data is on a consolidated basis, while FY23 and FY22 data are on a standalone basis
Tolins Tyres Ltd. IPO SUBSCRIPTION STATUS DETAILS
Tolins Tyres Ltd. had 10.2 M shares on offer
Tolins Tyres Ltd. IPO offer price was in the range ₹215 - ₹226
Tolins Tyres Ltd. IPO minimum Investment was ₹14190
Tolins Tyres Ltd. IPO issue size was ₹ 2188.1 M - ₹ 2300.0 M
Tolins Tyres Ltd. had a minimum lot size of 66 Shares per application
Tolins Tyres Ltd. NUMBER OF SHARES ON OFFER
Tolins Tyres Ltd. IPO IMPORTANT DATES
| Issue Open Date | 09 Sep 2024 |
| Issue close Date | 11 Sep 2024 |
| Allotment Date | 12 Sep 2024 |
| Refund Date | 13 Sep 2024 |
| Demat Account Credit Date | 13 Sep 2024 |
| Listing Date | 16 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Tolins Tyres Ltd. Allotment Status | Exchange |
Tolins Tyres Ltd. IPO subscription opened on 09 Sep 2024, and closed on 11 Sep 2024
IPO allotment for Tolins Tyres Ltd. was finalized on Thursday, 12 Sep 2024
IPO listing for Tolins Tyres Ltd. was on NSE and BSE on Monday, 16 Sep 2024
Tolins Tyres Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 226.0 |
| Listing Open Price | 228.0 |
| Listing Close Price | 239.4 |
| Listing Gain% | 0.9% |
| Current Gain% | -54.8% |
Tolins Tyres Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tolins Tyres Ltd. | 102.1 | 403.5 | 11.3 | -1.5 | 1.2 | 9.9 | 9.1 | 329.9 | 11.8 | 35.7 | -7.7 | 9 | -7.7 |
| MRF Ltd. | 134190 | 56911.3 | 23.5 | 0.8 | 1.8 | 11.6 | 7.6 | 31653.6 | 10.8 | 2426.1 | 29.8 | 5706.5 | 29.5 |
| Balkrishna Industries Ltd. | 2466.3 | 47677.8 | 33.9 | -10.3 | 4.1 | 11.3 | 7 | 11074.9 | 0.8 | 1243.1 | -24.9 | 72.7 | -3.3 |
| Apollo Tyres Ltd. | 445 | 28262 | 16.5 | 0.2 | 1 | 8.2 | 4.7 | 28604 | 9.1 | 1372.4 | 22.4 | 26.9 | 105.3 |
| Ceat Ltd. | 3723.1 | 15060 | 25.5 | 0.7 | 0.9 | 13.8 | 5 | 15718.4 | 18.8 | 698 | 47.7 | 145.7 | 36.8 |
| JK Tyre & Industries Ltd. | 394.9 | 11384.6 | 17.5 | 0.4 | 0.7 | 12.8 | 4.8 | 16384.3 | 10.9 | 776.1 | 56.8 | 22.6 | 45 |
Tolins Tyres Ltd. IPO Reports
Tolins Tyres Ltd. INFORMATION ON IPO ISSUE
About Tolins Tyres Ltd.
Tolins Tyres was incorporated on July 10, 2003. The company manufactures bias tyres for a wide range of vehicles, including light commercial, agricultural, and two/three-wheelers. It also produces precured tread rubber and ancillary products like bonding gum, vulcanizing solutions, tyre flaps, and tubes.
Object of the Issue
- 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 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.
- General corporate purposes.
Tolins Tyres Ltd. - PROMOTERS
| Name |
|---|
| Dr. Kalamparambil Varkey Tolin |
| Jerin Tolin |
Tolins Tyres Ltd. Book Running Lead manager
Saffron Capital Advisors Private Limited
ipos@saffronadvisor.com
Tolins Tyres Ltd. Registrar to the offer
Cameo Corporate Services Limited
priya@cameoindia.com
Tolins Tyres Ltd. Strengths
Diversified Product Range
The company is divided into two business verticals based on the two product categories. Its manufactures tyres and tread rubber. It has a total of 154 stock-keeping units (SKU) in the tyre category and 993 SKUs in tread rubber, this catalogue has been built over the decades to fit in with market requirements and to fulfil customer requirements
Locational Advantage
The inland container depot and sea port is approximately 40 kms from manufacturing facilities in Kalady, Cochin Airport, which is an international airport connected to worldwide destinations. It is merely 6 km from its manufacturing facilities in Kalady. Besides this the manufacturing facilities are also well connected with Indian railways
R&D Capabilities
The company's R&D activities are aimed at growing its market share by seeking to continually offer technologically backed products to its customers while improving operational efficiencies to derive better margins
Tolins Tyres Ltd. Risks
Dependent on Few Suppliers
The tyre manufacturing industry has a limited number of suppliers of raw materials. Volatility in the prices and availability of raw materials or any failure by its suppliers to make timely delivery of raw materials or breakdown of relationship with such suppliers could hurt the business, financial condition, and results of operations
Outstanding Legal Proceedings
There are outstanding legal proceedings involving the company, directors, promoters, and its subsidiaries. Any adverse outcome in such proceedings may hurt the reputation, business, financial condition and results of operations
Dependent on Contract Labour
The company is dependent on contract labour and any disruption to the supply of such labour for its manufacturing facilities or its inability to control the composition and cost of contract labour could adversely affect the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 30.0 crore, of 1,327,434 shares. It also consists of a fresh issue of Rs 200.0 crore.
The promoters of the company are Dr. Kalamparambil Varkey Tolin and Jerin Tolin.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 215.0 - 226.0.
The IPO application opens on Sep 09, 2024 and closes on Sep 11, 2024.
The minimum lot size for the IPO is 66. The maximum lot size for the IPO is 858.
For all category investors, the minimum application amount for this IPO is Rs. 14,190.0, the maximum value for this IPO is Rs 193,908.0.
This IPO will be allotted on Sep 12, 2024.
The refund will be credited to your account on Sep 13, 2024.
The allotted shares will be credited to your demat on Sep 13, 2024.
Tolins Tyres Ltd.’s shares listed on the stock exchanges on Sep 16, 2024.