IPO Details

Bidding Dates

09 Sep '24 - 11 Sep '24

Minimum Investment

₹14,916 / 1 Lot (66 Shares)

Price Range

₹215 - ₹226

Maximum Investment

₹193,908 / 13 Lot (858 Shares)

Retail Discount

To be announced

Issue Size

₹230.00 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Sep 9, 2024

Closing Date

Sep 11, 2024

Basis of Allotment

Sep 12, 2024

Initiation of Refunds

Sep 13, 2024

Listing Date

Sep 16, 2024

Cut-off time for UPI mandate confirmation

Sep 11, 2024

About Tolins Tyres Limited

Tolins Tyres Limited, incorporated in 2003, is a prominent tyre manufacturing company based in India. It specialises in tyre retreading solutions and exports its products to over 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt. Tolins Tyres operates through two primary verticals: tyre manufacturing and tread rubber manufacturing.

As of March 31, 2024, the company's diverse product portfolio includes light commercial vehicle tyres, off-road/Agriculture tyres, two-wheeler and three-wheeler tyres, tyre tubes, tyre flaps, precured tread rubber, conventional tread rubber, bonding gum, vulcanising solutions, rope rubber, and more. These products are manufactured across three facilities, two of which are located in Mattoor, Kalady, Kerala, and one in the Al Hamra Industrial Zone, Ras Al Khaimah, UAE.

Tolins Tyres boasts an extensive distribution network with 8 depots and 3,737 dealers across India. The company offers 163 SKUs in the tyre category and 1,003 SKUs in the tread rubber category, all backed by quality certifications like ISO 9001:2015 and IATF 16949:2016.

The company's client base includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. With a sales and marketing team of 55 employees, Tolins Tyres continues to innovate, developing 163 new designs and products by March 31, 2024.

Industry Outlook:

  1. The India tyre market is projected to grow from 196.3 million units in 2023 to 253.9 million units by 2032, with a CAGR of 3%.
  2. Rising automobile production and increasing income levels are key drivers for the tyre market, which is expected to reach 253.9 million units by 2032.

Tolins Tyres Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the company.
  2. Augmentation of long-term working capital requirements of the company.
  3. Investment in our 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.
  4. General corporate purposes

Peer Details

The companies considered by Tolins Tyres as its peers include:

  1. Indag Rubber Limited
  2. Vamshi Rubber Limited
  3. TVS Srichakra Limited
  4. GRP Limited
  5. Elgi Rubber Company Limited

How to Check the Allotment Status of the Tolins Tyres Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Tolins Tyres Limited IPO

  • Registered office: No. 1/47, M C Road, Kalady, Ernakulam, Aluva-683574, Kerala, India.
  • Phone: +9172592 87215
  • E-mail:cs@tolins.com

IPO Financials

Particulars As of November 30, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ million) 2,272.18 1,182.46 1,133.65
Profit After Tax (PAT) (in ₹ million) 260.06 49.92 6.31
Current Ratio (x) 1.43 1.25 1.07
Net Worth (in ₹ million) 1,005.33 194.23 108.25
Total Borrowings (in ₹ million) 787.72 470.29 488.72
Return on Equity (%) 25.87% 25.70% 5.83%
Return on Capital Employed (RoCE) (%) 36.08% 31.49% 14.80%
Earnings Per Share (in ₹) 9.52 2.55 0.35

Know before investing

Strengths

6

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

  2. Strong quality assurance with ISO 9001:2015 and IATF 16949:2016 certifications.

  3. Extensive dealer network with 3,737 dealers and 8 depots nationwide.

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

  5. Integrated manufacturing with three facilities in India and UAE.

  6. Long-standing relationships with major OEMs and global customers.

Risks

6

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

  2. Volatile raw material prices impacting profit margins and costs.

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

  4. Reliance on OEM sales, contributing 5.06% of total revenue.

  5. Exposure to product liability risks with 311 claims in 2024.

  6. High working capital requirements with finance costs of ₹115.80 million.

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Tolins Tyres IPO FAQs

What is the Tolins Tyres IPO?

Tolins Tyres IPO is a book built IPO. The IPO will be open from September 9, 2024, to September 11, 2024.

When will Tolins Tyres IPO be allotted?

The Basis of Allotment will happen on Thursday, September 12, 2024.

When will Tolins Tyres IPO open for subscription?

The IPO subscription window will open on September 9, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 66 shares.

When will Tolins Tyres Limited list on exchanges?

The listing date for Tolins Tyres is Monday, September 16, 2024.

What would be the listing gains on the Tolins Tyres IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to apply for Tolins Tyres IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
  3. Select IPO: Find and select the Tolins Tyres IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How to increase your chances of getting a Tolins Tyres IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Tolins Tyres IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Tolins Tyres Limited using one PAN?

You can submit only one application using your PAN card.

How to read Tolins Tyres Limited's financial statements?

To read Tolins Tyres’ financial statements, download the IPO’s  RHP document.