Tolins Tyres IPO Day 2: Issue subscribed 2.94 times so far on high retail demand; check details

Tolins Tyres Limited IPO saw strong demand across categories on Tuesday, September 10, the second day of bidding, as the initial public offering was booked nearly three times.

Retail investors applied for over 1.91 crore shares against 37.44 lakh shares set aside for the category, booking the portion by 5.11 times.

The issue was subscribed 1.65 times in the non-institutional investors' (NIIs) category, with applications for 26.41 lakh shares against 16.04 lakh shares set aside for the segment.

The qualified institutional buyers' (QIBs) portion was booked 12%, with applications for 2.6 lakh shares compared to 21.39 lakh shares set aside for this category.

Tolins Tyres IPO offer size, price band and minimum investment

Tolins Tyres IPO is a book-building issue worth ₹230 crore. The mainboard public offer is a combination of a fresh issue of 88 lakh shares, aggregating to ₹200 crore, and an offers-for-sale (OFS) of 13 lakh shares worth ₹30 crore.

The company's IPO price band has been fixed at ₹215 to ₹226 per share.

The minimum lot size for an application is 66 shares. Retail investors can invest a minimum amount of ₹14,916.

For small Non-Institutional Investors (sNII), the minimum investment is 14 lots, totalling 924 shares, which amounts to ₹208,824. For big non-institutional investors (bNII), the minimum investment is 68 lots, or 4,488 shares, amounting to ₹10,14,288.

Tolins Tyres IPO date

The IPO subscription window is open from September 9 to September 11. The IPO allotment status is likely to be finalised on September 12. Shares will be credited into the demat accounts of successful bidders on September 13, and refunds for non-allottees will also be made on the same day.

Shares of the company are likely to be listed on the NSE and BSE on September 16.

Tolins Tyres IPO registrar

The registrar of the Tolins Tyres initial public offering is Bigshare Cameo Corporate Services Limited, while the book-running lead manager is Saffron Capital Advisors Private Limited.

Tolins Tyres IPO objective

Tolins Tyres Limited plans to utilise the IPO proceeds for full repayment or prepayment of certain outstanding loans, long-term working capital needs and investments in its wholly-owned subsidiary, Tolin Rubbers Private Limited. A portion of the funds will be allocated for general corporate purposes.

About Tolins Tyres Limited

Tolins Tyres Limited, incorporated in 2003, is a tyre manufacturing company that provides retreading solutions in India and exports to over 40 countries.

It operates in two verticals: tyre manufacturing and tread rubber manufacturing. As of March 31, 2024, the company offers many products, including light commercial, off-road, two-wheeler, and three-wheeler tyres and retreading materials like pre-cured tread rubber and bonding gum.

With eight depots and 3,737 dealers across India, Tolins has a strong domestic presence.