Tolins Tyres IPO subscribed 1.90 times on Day 1

The tyre manufacturing company Tolins Tyres Limited opened its IPO for bidding on September 9, 2024, and will close on September 11, 2024. Tolins Tyres IPO is a book built issue of ₹230.00 crores. The issue is a combination of fresh issue of 0.88 crore shares aggregating to ₹200.00 crores and offer for sale of 0.13 crore shares aggregating to ₹30.00 crores. Tolins Tyres IPO price band is set at ₹215 to ₹226 per share. The minimum lot size for an application is 66 Shares. The minimum amount of investment required by retail investors is ₹14,916.

Day Wise Subscription

On 1st day, Tolins Tyres IPO subscribed 1.89 times. The public issue subscribed 3.34 times in the retail category, 0.13 times in QIB, and 0.88 times in the NII category.

Tolins Tyres GMP

Tolins Tyres IPO last GMP is ₹39. With a price band of ₹226.00, Tolins Tyres IPO’s estimated listing price is ₹265 (cap price + today’s GMP). The expected percentage gain/loss per share is 17.26%

About Tolins Tyres  Limited

Incorporated in 2003, Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.

The company’s business can be divided into two verticals:

• Tyre manufacturing and
• Tread Rubber manufacturing.

As of March 31, 2024, the company’s products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.