Tolins Tyres IPO

Tolins Tyres IPO

Tolins Tyres Ltd

₹14,916 / 66 shares

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Tolins Tyres IPO Details

RHP/DRHP

Issue Date

--

Price Band

₹215 - ₹226

Lot Size

66 Shares

IPO Size

₹230.00 Cr

Listing At

nse

Overall Subscription

23.14xx

Tolins Tyres IPO Listing Details

Listing On

16 Sep'24

Issue Price

₹226

Listed Price

₹ 228

Retail Gain/Listing Gain

0.88%Increase

Schedule of Tolins Tyres IPO

IPO Open Date

IPO Close Date

Basis of Allotment

Refund Initiation

Credit of Shares

Listing on exchange

16/09/2024

Tolins Tyres Company Background

Tolins Tyres Limited is a major tyre re-treading solutions provider across India. The company exports its products to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.

The company produces tyres for two-wheelers, three-wheelers, light commercial vehicles and agricultural equipment, pre-cured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc.(Source: Company Commissioned CRISIL Report).

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Diversified Product Range and Customised Product Offering

The company has a competitive advantage in both tyre manufacturing and in tread rubber manufacturing. They have 163 stock keeping units (SKU) in the tyre category and 1,003 SKUs in the tread rubber category. This catalogue has been built over decades to fit in with market requirements and to fulfil customer requirements.

Products that adhere to various quality standards

Their products undergo quality checks at various levels of production to ensure that any quality defects or product errors are rectified on a real time basis. Hence, the percentage of product recalls/ claims was 0.20%, 0.19% and 1% of the total sales during FY 2024, 2023 and 2022, respectively.

Long standing relationship with large OEMs, dealer networks and Depots

Since the last three decades, they have established long-standing relationships with several well-established Indian and global customers like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, Tyre Grip. etc. This has been possible due to their ability to customise solutions and consistently deliver high quality and cost effective products.

Risk Factors

  • They do not have any long-term contracts with their suppliers
  • They depend on OEM customers for the sale of a significant portion of agricultural tyres. If the company is unable to maintain their relationship with OEM customers, it will hurt their business.
  • All facilities and operations are currently concentrated in Kalady, Kerala and Ras Al Khaimah, UAE. Any disruption in manufacturing at, or temporary or permanent shutdown of, their manufacturing facilities can hurt their business.

Key Strategies

  • Optimally utilise their production capacity of 1.51 million per annum tyre capacity, 12,486 tons per annum tread rubber and 17,160 tons per annum of rubber compounds
  • Expand reach of domestic markets through collaboration with OEMs in India, and by tapping the untapped regions in the domestic market
  • Expand product range by introducing new products and product range

Here are the key financials for Tolins Tyres Limited:

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How To Apply for Tolins Tyres Ltd IPO?

Here are the steps to apply for Tolins Tyres Ltd IPO:

Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Tolins Tyres IPO FAQs

The Tolins Tyres IPO opens for subscription from [-] to [-], with a total issue size of ₹230.00 Cr. The IPO price band is ₹215 to ₹226 per share with a lot size of 66. The company aims to list the shares on BSE & NSE on 16-09-2024.

The Tolins Tyres IPO will open for subscription on [-] and will close on [-] for investors.

The minimum lot size for the Tolins Tyres IPO is 66 equity shares, requiring a minimum investment of ₹14916 for retail investors applying in the IPO.

The price band of the Tolins Tyres IPO has been fixed at ₹215 to ₹226 per equity share.

You can apply for the Tolins Tyres IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Tolins Tyres IPO allotment will take place on [-].

You can check the Tolins Tyres IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Tolins Tyres shares will list on the stock exchanges on 16-09-2024.

You can find detailed information about the Tolins Tyres IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

The Tolins Tyres Limited IPO has an issue size of ₹230 crores. The IPO opens for subscription on 9/9/2024 and closes on 11/9/2024.

Cameo Corporate Services Limited is the registrar for this IPO.

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.