Tolins Tyres Limited IPO

Mainboard

Tyres & Rubber Products

Listed On: Sep 16, 2024 at ₹ 228.0(NSE)

₹ 14916 /66 Shares

Check Allotment

Price Summary

Last Closing

217.00 (-3.98%)

52 Week High

239.40

52 Week Low

216.05

Last Update

18-Sep-2024 3:30 PM

Tolins Tyres IPO Details

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date

Issue Price

₹215-226 per equity share

Face Value

₹5 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Cameo Corporate Services Limited

List Price

228.0(NSE)

Listing Date

2024-09-16

Market Lot

Retail : 66 Shares (₹14,916/-)
S-HNI : 924 Shares (₹2,08,824/-)
B-HNI : 4,488 Shares (₹10,14,288/-)

Lead Manager

Saffron Capital Advisors Private Limited

Issue Size

Total ₹230.0 Cr :
#Fresh Issue : 8,849,558 shares(aggregating up to ₹200.0 Cr) +
#OFS : 1,327,434 shares of ₹5(aggregating up to ₹30.0 Cr)

Retail Portion

35% (Number of Retail Applications: 53,969 Approx),
(Number of S-HNI Applications : 551 Approx),
(Number of B-HNI Applications : 1,101 Approx)

Subscription

23.49 times

IPO Docs

DRHP RHP ANCHOR

Tolins Tyres IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	2,035,398	1,526,549 1,017,699 508,850	3,561,947	7,123,894
Day 1 - 09-09-24 05:00 PM	0.12 x	0.83 0.44 x 1.60 x	3.15 x	1.79 x
Day 2 - 10-09-24 05:00 PM	0.45 x	4.07 2.90 x 6.41 x	8.39 x	5.19 x
Day 3 - 11-09-24 05:00 PM	25.42 x	27.32 25.11 x 31.74 x	20.74 x	23.49 x

Total No. of Applications: 13,32,797 (Approx)

Retail Subscription on the basis of Applications: Retail:24.48x BHNI:5.36x SHNI:31.96x times

Tolins Tyres Valuations

EPS Pre IPO

₹8.48/-

EPS Post IPO

₹6.58/-

P/E Pre IPO

26.64

P/E Post IPO

34.33

RoNW

25.87%

Tolins Tyres Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	221.6	N/A	N/A
Revenue	228.69	112.65	113.53
Profit After Tax	26.01	4.9	0.6

About The Company

Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.

The company's business can be divided into two verticals:
Tyre manufacturing and
Tread Rubber manufacturing.

As of March 31, 2024, the company's products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others.The company manufactures a range of products, including two-wheelers, three-wheelers, light commercial vehicles, agricultural tyres, tread rubber, and various accessories such as bonding gum, tyre flaps, and vulcanizing solutions.

As of March 31, 2024, the company operated 8 depots and had 3,737 dealers nationwide.The company operates three manufacturing facilities, with two located at Mattoor in Kalady, Kerala, and the third in Al Hamra Industrial Zone in Ras Al Khaimah, UAE.

The company has 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category. The company has obtained various quality certifications such as ISO 9001:2015, IATF 16949:2016 issued by UK Certifications.

The company's clientele includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. etc. for products.As of March 31, 2024, the company has developed 163 new designs and products and has also created moulds for them.As of March 31, 2024, the company's sales and marketing team comprised 55 employees, including contract workers who reported to the Chairman and Managing Director.

Tolins Tyres - Strength and Weakness

Strength

Diversified product range with 1,166 SKUs across tyre and rubber categories.

Strong quality assurance with ISO 9001:2015 and IATF 16949:2016 certifications with Extensive dealer network with 3,737 dealers and 8 depots nationwide.

In-house R&D center, developing 163 new designs in FY 2024.

Weakness

Dependence on 261 suppliers, with top 10 contributing 98%.

Manufacturing facilities operating at low utilisation rates, below 50%.

Volatile raw material prices impacting profit margins and costs.

Tolins Tyres - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Tolins Tyres	6.14	34.3	25.87%	229
Indag Rubber	2.75	52.6	%	243
Vamshi Rubber	1.55	32.1	4.59%	81
TVS Srichakra	3.11	35.0	10.6%	3,015
GRP Limited	11.1	69.6	15.6%	488
Elgi Rubber	2.88	144	0.97%	388

Tolins Tyres - Promoter(s)

Pre Issue Share Holding: 92.64%

Post Issue Share Holding: N/A%

Company Promoter(s)

Kalamparambil Varkey Tolin
Jerin Tolin

Tolins Tyres IPO - Issue Objectives

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
General corporate purposes.

Tolins Tyres IPO - Anchor Investors

Tolins Tyres garners Rs 69 Crores from anchor investors ahead of IPO.

BofA Securities Europe SA, NAV Capital VCC, Chhatisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I Fund, Invicta Continuum Fund I and Steptrade Revolution Fund are the anchor investors that have been allotted shares.

Other Details

Company Contact Details

Tolins Tyres

No. 1/47, M C Road, Kalady, Ernakulam, Aluva - 683574

Phone: +917259287215

Email: cs@tolins.com

Website: https://www.tolinstyres.com/

Registrar Contact Details

Cameo Corporate Services Limited

Phone: +91-44-28460390

Email: priya@cameoindia.com

Website: https://ipo.cameoindia.com/

Tolins Tyres IPO - FAQs

Ans. Tolins Tyres Limited IPO is a Mainboard IPO. The issue is priced at ₹215-226 per equity share. The minimum order quantity is 66 Shares. The IPO opens on Sep 9, 2024, and closes on Sep 11, 2024. Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Tolins Tyres Limited IPO opens on Sep 9, 2024 and closes on Sep 11, 2024.

Ans. The size of Tolins Tyres Limited IPO is Total ₹230.0 Cr : #Fresh Issue : 8,849,558 shares(aggregating up to ₹200.0 Cr) + #OFS : 1,327,434 shares of ₹5(aggregating up to ₹30.0 Cr).

Ans. The IPO price band is set between ₹215-226 per equity share.

Ans. To apply for Tolins Tyres Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Tolins Tyres Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Tolins Tyres Limited IPO is Sep 12, 2024.

Ans. The Tolins Tyres Limited IPO will be listed on Sep 16, 2024.

Ans. Follow the steps to check the allotment status for Tolins Tyres Limited IPO here.