In this article you get to know insight about Tolins Tyres Limited IPO Details. Incorporated in 2003, Tolins Tyres Limited is a prominent tyre manufacturing company that provides tyre retreading solutions within India and exports its products to 40 countries, including key markets in the Middle East, East Africa, Jordan, Kenya, and Egypt. The company’s operations are divided into two main verticals: tyre manufacturing and tread rubber manufacturing.
As of March 31, 2024, Tolins Tyres offers a diverse product range that includes tyres for light commercial vehicles, off-road and agricultural tyres (OTR), as well as tyres for two-wheelers and three-wheelers. Additionally, the company produces tyre tubes, tyre flaps, precured tread rubber (PCTR), conventional tread rubber, bonding gum, vulcanizing solutions, rope rubber, and other related products.
Tolins Tyres operates three manufacturing facilities—two in Mattoor, Kalady, Kerala, and one in the Al Hamra Industrial Zone in Ras Al Khaimah, UAE. The company’s extensive distribution network includes 8 depots and 3,737 dealers across India. With 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category, the company has developed 163 new designs and products, complete with custom moulds.
Tolins Tyres is certified with ISO 9001:2015 and IATF 16949:2016 by UK Certifications, underscoring its commitment to quality. Its clientele includes notable names like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. The company’s sales and marketing team, consisting of 55 employees including contract workers, directly reports to the Chairman and Managing Director.
The Tolins Tyres IPO is a book-built issue with a total value of ₹230 crores. This includes a fresh issue of ₹200 crores and an offer for sale amounting to ₹30 crores. The IPO will open for subscription on September 9, 2024, and will close on September 11, 2024. Investors can expect the allotment to be finalized by September 12, 2024. The shares are tentatively scheduled to list on the BSE and NSE on September 16, 2024.
Tolins Tyres Limited IPO Objectives
Tolins Tyres Limited plans to utilize the net proceeds from the fresh issue of its IPO for several key objectives. These include the repayment and/or prepayment, in full, of certain outstanding loans, including any foreclosure charges, as well as the augmentation of the company’s long-term working capital requirements. Additionally, a portion of the proceeds will be invested in the company’s wholly-owned subsidiary, Tolin Rubbers Private Limited, to repay and/or prepay certain short-term and long-term borrowings and to enhance its working capital. Lastly, funds will also be allocated for general corporate purposes.
Tolins Tyres Limited IPO Details
| IPO Date | September 9, 2024 to September 11, 2024 |
| Face Value | |
| Price | ₹5 per share |
| Lot Size | |
| Total Issue Size | |
| Fresh Issue | |
| Issue Type | Book Built Issue IPO |
| Listing | BSE, NSE |
| Share holding pre issue | 30,659,272 |
| Share holding post issue | |
| Market Maker portion |
Tolins Tyres Limited IPO Reservation
The Tolins Tyres IPO has a well-structured reservation plan to cater to different investor categories. Up to 50% of the net offer is reserved for Qualified Institutional Buyers (QIBs), ensuring significant institutional participation. Retail investors are allocated no less than 35% of the net offer, making a substantial portion available to individual investors. Additionally, High-Net-Worth Individuals (HNIs), classified as Non-Institutional Investors (NII), are allocated at least 15% of the net offer. This distribution strategy is designed to encourage diverse investor engagement in the IPO.
Tolins Tyres Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | |||
| Retail (Max) | |||
| HNI (Min) |
Tolins Tyres Limited IPO Promoter Holding
The promoters of Tolins Tyres Limited are Kalamparambil Varkey Tolin and Jerin Tolin. Before the IPO, they hold a significant 92.64% shareholding in the company. However, this percentage will decrease after the IPO, though the exact post-issue shareholding is yet to be disclosed.
Tolins Tyres Limited IPO Tentative Dates
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Tolins Tyres Limited IPO Registrar
The Tolins Tyres IPO will be managed by Cameo Corporate Services Limited as the official registrar. Investors can contact Cameo Corporate Services at +91-44-28460390 or via email at priya@cameoindia.com. To check the status of the IPO or for additional information, you can visit their website at Cameo Corporate Services IPO Status.
FAQs
What is Tolins Tyres Limited?
Tolins Tyres Limited, incorporated in 2003, is a leading tyre manufacturing company in India. The company specializes in tyre retreading solutions and exports its products to over 40 countries, including key markets in the Middle East, East Africa, Jordan, Kenya, and Egypt. Tolins Tyres operates in two primary verticals: tyre manufacturing and tread rubber manufacturing.
What products does Tolins Tyres Limited offer?
Tolins Tyres Limited offers a wide range of products, including:
- Tyres for light commercial vehicles
- Off-road and agricultural tyres (OTR)
- Tyres for two-wheelers and three-wheelers
- Tyre tubes, flaps, and related products
- Precured tread rubber (PCTR) and conventional tread rubber
- Bonding gum, vulcanizing solutions, and rope rubber
When will the Tolins Tyres Limited IPO open and close?
The Tolins Tyres Limited IPO will open for subscription on September 9, 2024, and will close on September 11, 2024.
What is the total issue size of the Tolins Tyres Limited IPO?
The Tolins Tyres Limited IPO is a book-built issue with a total value of ₹230 crores, which includes a fresh issue of ₹200 crores and an offer for sale amounting to ₹30 crores.
What is the purpose of the Tolins Tyres Limited IPO?
The proceeds from the IPO will be used for several key objectives, including:
- Repayment and/or prepayment of certain outstanding loans
- Augmenting long-term working capital requirements
- Investment in the company’s wholly-owned subsidiary, Tolin Rubbers Private Limited
- General corporate purposes
What is the reservation structure for the Tolins Tyres Limited IPO?
The IPO has a well-structured reservation plan:
- 50% of the net offer is reserved for Qualified Institutional Buyers (QIBs).
- At least 35% is allocated to retail investors.
- At least 15% is allocated to High-Net-Worth Individuals (HNIs), classified as Non-Institutional Investors (NII).
Who are the promoters of Tolins Tyres Limited?
The promoters of Tolins Tyres Limited are Kalamparambil Varkey Tolin and Jerin Tolin, who hold a significant 92.64% shareholding in the company before the IPO.
What is the tentative schedule for the Tolins Tyres Limited IPO?
- IPO Open Date: September 9, 2024
- IPO Close Date: September 11, 2024
- Basis of Allotment: September 12, 2024
- Initiation of Refunds: September 13, 2024
- Credit of Shares to Demat: September 13, 2024
- Listing Date: September 16, 2024
Who is the registrar for the Tolins Tyres Limited IPO?
The registrar for the Tolins Tyres Limited IPO is Cameo Corporate Services Limited. Investors can contact them at +91-44-28460390 or via email at priya@cameoindia.com. You can also visit their website to check the status of the IPO.
Where will the Tolins Tyres Limited shares be listed?
The shares of Tolins Tyres Limited are expected to be listed on the BSE and NSE on September 16, 2024.
How can I apply for the Tolins Tyres Limited IPO?
You can apply for the Tolins Tyres Limited IPO through your bank or brokerage’s online IPO application process, using your demat account and UPI ID.
What is the face value of the Tolins Tyres Limited shares?
The face value of the Tolins Tyres Limited shares is ₹5 per share.
Who should invest in the Tolins Tyres Limited IPO?
Investors looking for exposure to the tyre manufacturing and retreading industry, especially with a company that has a strong export presence and a diverse product range, might consider investing in this IPO. However, it’s important to assess your risk tolerance and consult with a financial advisor before making investment decisions.