• Initial Public Offering (IPO)

  tolins tyres ipo

  Posted by madhav on September 3, 2024 at 5:11 am

  Founded in 2003, Tolins Tyres Limited is a tyre manufacturing company that offers tyre retreading solutions within India and exports to 40 countries, including regions such as the Middle East, East Africa, Jordan, Kenya, and Egypt.

  The company operates in two main business verticals:

  1. Tyre Manufacturing
  2. Tread Rubber Manufacturing

  As of March 31, 2024, Tolins Tyres’ product range includes Light Commercial Vehicle Tyres, Off-Road/Agricultural Tyres (OTR), Two-wheeler and Three-wheeler Tyres, Tyre Tubes, Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing Solution, Rope Rubber, and other related products.

  The company manufactures a variety of products, catering to two-wheelers, three-wheelers, light commercial vehicles, and agricultural applications. It also produces tread rubber and various accessories like bonding gum, tyre flaps, and vulcanizing solutions.

  As of March 31, 2024, Tolins Tyres operated 8 depots and had a network of 3,737 dealers across India.

  Tolins Tyres operates three manufacturing facilities: two are located in Mattoor, Kalady, Kerala, and one is in the Al Hamra Industrial Zone in Ras Al Khaimah, UAE.

  The company offers a diverse product lineup with 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category.

  Tolins Tyres has obtained several quality certifications, including ISO 9001:2015 and IATF 16949:2016, certified by UK Certifications.

  The company’s client base includes notable names such as Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip, among others.

  As of March 31, 2024, Tolins Tyres had developed 163 new designs and products, creating moulds for these innovations.

  The sales and marketing team, as of March 31, 2024, consisted of 55 employees, including contract workers, who reported directly to the Chairman and Managing Director.

  The Tolins Tyres IPO is a book-built issue, totaling ₹203.00 crores. This offering consists of a fresh issue of 0.88 crore shares, amounting to ₹200.00 crores, and an offer for sale of 0.01 crore shares, amounting to ₹3.00 crores.

  The IPO opens for subscription on September 9, 2024, and closes on September 11, 2024. The share allotment is expected to be finalized on Thursday, September 12, 2024. Tolins Tyres is scheduled to list on both the BSE and NSE, with a tentative listing date of Monday, September 16, 2024.

  The price band for the Tolins Tyres IPO is set between ₹215 and ₹226 per share. The minimum application lot size is 66 shares, requiring a minimum investment of ₹14,916 for retail investors. For small Non-Institutional Investors (sNII), the minimum investment is 14 lots (924 shares), totaling ₹208,824. For big Non-Institutional Investors (bNII), the minimum investment is 68 lots (4,488 shares), amounting to ₹1,014,288.

  Saffron Capital Advisors Private Limited is the book running lead manager for the Tolins Tyres IPO, with Cameo Corporate Services Limited acting as the registrar.

  For more detailed information, please refer to the Tolins Tyres IPO RHP (Red Herring Prospectus).

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