Tolins Tyres IPO to hit Dalal Street on Sept 9

Tolins Tyres Limited, a well-established tyre manufacturing company, is set to launch its Initial Public Offering (IPO) on September 9, 2024. The IPO is expected to raise Rs 203.00 crores through a combination of fresh issues and offers for sale. With a strong presence in both domestic and international markets, Tolins Tyres is poised to capture investor interest with its diverse product offerings and strategic growth plans.

IPO Details: Structure and Timelines

The Tolins Tyres IPO is structured as a book-built issue, with a total size of Rs 203.00 crores. The fresh issue comprises 0.88 crore shares, aggregating to Rs 200.00 crores, while the offer for sale includes 0.01 crore shares worth Rs 3.00 crores. The subscription period for the IPO opens on September 9, 2024, and closes on September 11, 2024. Investors can expect the allotment to be finalized on September 12, 2024, with the shares likely to list on the BSE and NSE on September 16, 2024. Saffron Capital Advisors Private Limited is the book-running lead manager for the issue, and Cameo Corporate Services Limited is the registrar.

About Tolins Tyres

Incorporated in 2003, Tolins Tyres Limited has built a reputation as a reliable manufacturer of high-quality tyres and related products. The company’s business is divided into two primary verticals: tyre manufacturing and tread rubber manufacturing. Tolins Tyres serves a wide range of markets, offering products such as Light Commercial Vehicle Tyres, Off-Road/Agriculture Tyres, Two-wheeler & Three-wheeler Tyres, and tyre accessories like tubes, flaps, and vulcanizing solutions. With exports to over 40 countries, including the Middle East, East Africa, and parts of Asia, Tolins Tyres is well-positioned for further growth.

Objectives of the Issue

Tolins Tyres plans to utilize the net proceeds from the fresh issue for several key objectives. These include the repayment or prepayment of certain outstanding loans, augmentation of long-term working capital, and investment in its wholly-owned subsidiary, Tolin Rubbers Private Limited. The funds will also support general corporate purposes, further strengthening the company’s financial position and operational capabilities.

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Conclusion: Tolins Tyres IPO represents a significant opportunity for investors looking to capitalize on a growing player in the tyre manufacturing industry. With a strong market presence, a diverse product portfolio, and clear growth strategies, Tolins Tyres is well-positioned for a successful market debut.