Tolins Tyres Share Price Highlights: Stock settles at 5% upper circuit after listing at 0.8% premium on NSE

• Current price: ₹239.4 (+5%)
• Open: ₹228
• Issue price: ₹226
• High: ₹239.4
• Low: ₹227.5

Between FY22 and FY24, Tolins Tyres saw a CAGR (Compound annual growth rate) rise of 26% in its revenue from operations and 245% in its profit. The Indian tyre industry is expected to grow by 4-6% in FY25, mainly due to improved replacement demand, which could benefit the company.

Tolins Tyres produces tyres for light commercial, agricultural, and two/three-wheeler vehicles. It also manufactures tread rubber and ancillary products like vulcanizing solution, bonding gum, tyre flaps, and tubes.

Some of its customers include Kerala Agro Machinery Corporation, Marangoni GRP, Redlands Motors, and Tyre Grip. It also exports to 40 nations in the Middle East, the ASEAN region, and Africa.

Of the ₹200 crore fresh issue proceeds, ₹75 crore will be utilised to augment the company's long-term working capital requirements and ₹62.55 crore for debt repayment.

Further, ₹24.36 crore will be invested in a subsidiary, Tolin Rubbers, to repay its debt and support its working capital requirements.

Shares of Tolins Tyres Ltd made a flat market debut on Monday, listing with a marginal gain of nearly 1%, against the issue price of Rs 226.

The company's stock began the trade at ₹227, up 0.44% from the issue price on the BSE. It later jumped 5.44% to ₹238.30, the upper circuit limit.

At the NSE, shares of the firm listed at Rs 228, up 0.88%. Later, the stock hit the highest trading permissible limit for the day at ₹239.40, up 5.9%.

• Current price: ₹239.4 (+5%)
• Open: ₹228
• Issue price: ₹226
• High: ₹239.4
• Low: ₹227.5

• Traded volume (Lakhs): 13.73
• Traded value: ₹31.76 crore
• Total market capitalisation: ₹945.84 crore

Tolins Tyres IPO Listing LIVE: Shares of Kerala-based Tolins Tyres will be listed on the NSE and the BSE on Monday, September 16.

The quota for non-institutional investors (NIIs) received 27.41 times the subscription, while the qualified institutional buyers (QIBs) category received 25.42 times the subscription. The retail investors category attracted 21.47 times the subscription.

The company has fixed a price band of ₹215-₹226 per share for its initial public offering (IPO).

The public offer was a mix of a fresh issuance of shares worth ₹200 crore and an offer-for-sale (OFS) component of shares to the tune of ₹30 crore.

Tolins Tyres IPO Share Price: About the company

Tolins Tyres is a leading tyre and tread industry player and exports its products to 40 nations, including the Middle East, Jordan, East Africa, Kenya and Egypt.