Tolins Tyres IPO subscribed 5.46 times on Day 2

The retail investor showcased an increased subscription for Tolins Tyres  IPO on day 2.  Tolins Tyres IPO is a book-built issue of ₹230.00 crores. The issue is a combination of a fresh issue of 0.88 crore shares aggregating to ₹200.00 crores and an 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.

On 2nd day of bidding, Tolins Tyres IPO subscribed 5.46 times. The public issue subscribed 8.82 times in the retail category, 0.47 times in QIB, and 4.28 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.

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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.