Tolins Tyres, a prominent name in the tire industry since its establishment in 1982, is set to launch its Initial Public Offering (IPO) to raise ₹230.00 Crores. The company has grown from a small-scale industry unit to a leading producer specializing in a diverse range of products, including two and three-wheeler tyres, Light Commercial Vehicle (LCV) tyres, and Agriculture tyres.

The Tolins Tyres IPO comprises a fresh issue of 8.84 lakh shares worth ₹200.00 Crores and an offer for sale of 1.32 lakh shares totaling ₹30.00 Crores. The subscription period for the IPO opens on September 09, 2024, and closes on September 11, 2024. The shares will be listed on the BSE and NSE, with a tentative listing date set for September 16, 2024.

The IPO’s share price band is set between ₹215 to ₹226 per equity share, with a minimum lot size of 66 shares. Retail investors need to invest a minimum of ₹14,916, while High-Net-Worth Individuals (HNIs) are required to invest in 14 lots (924 shares), amounting to ₹208,824.

Saffron Capital Advisors Private Limited is the book-running lead manager, and Cameo Corporate Services Limited is the registrar for the issue.

Tolins Tyres Limited IPO GMP Today: The Grey Market Premium (GMP) for Tolins Tyres Limited IPO is expected to be in the range of ₹ to ₹. The GMP reflects the market's speculative view and is based on demand and supply dynamics. It is important to note that GMP is not a reliable indicator of actual listing gains, as it is not regulated.

Tolins Tyres Limited IPO Live Subscription Status Today: The IPO will be open for subscription starting September 09, 2024. Live subscription status updates will be available from the opening date.

Tolins Tyres Limited IPO Allotment Status: The allotment for Tolins Tyres IPO is expected to be finalized on September 13, 2024. Investors can check their allotment status by visiting the registrar’s website and entering their application number, PAN, or DP Client ID.

Objectives of Tolins Tyres Limited IPO: The proceeds from the fresh issue will be allocated to:

₹699.69 Crores for repayment or prepayment of outstanding loans, including any foreclosure charges.

₹750.00 Crores for augmenting long-term working capital requirements.

₹231.54 Crores for investment in the wholly owned subsidiary, Tolin Rubbers Private Limited, to repay or prepay its borrowings and augment its working capital.

Also Read : Allied Blenders to Acquire Majority Stake in New Spirits Venture with Ranveer Singh

General corporate purposes.

Tolins Tyres IPO Review: Founded in 1982, Tolins Tyres has grown to become a significant player in the tire industry. The company's financial performance shows stability and growth, with revenue increasing from ₹1,143.86 Crores in FY22 to ₹2,286.93 Crores in FY24. EBITDA and PAT also reflect strong growth, indicating a robust financial position.

The IPO is priced with a pre-issue EPS of ₹9.52 and a post-issue EPS of ₹6.58. The pre-issue P/E ratio is 23.74x, and the post-issue P/E ratio is 34.34x compared to the industry P/E ratio of 34.17x. The company’s ROCE for FY24 is 36.08%, and ROE is 25.87%, suggesting a fair pricing of the IPO.

Considering the company's steady financial performance and growth prospects, the Tolins Tyres IPO is recommended for investors looking for potential listing gains and long-term investment opportunities.

For more information on this and other IPOs, visit Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi and explore Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.