Tolins Tires IPO: Fresh Issue of ₹200 Crores and Offer for Sale of ₹30 Crores
Tolins Tyres Limited, a leading manufacturer of tyres for commercial vehicles, has opened its initial public offering (IPO) for subscription on September 9, 2024. The IPO, which aims to raise ₹230 crores, will remain open until September 11, 2024.
Main Points
Tolins Tyres IPO Details
The IPO consists of a fresh issue of up to ₹200 crores and an offer for sale of up to ₹30 crores by the selling shareholders. The company may also consider a pre-IPO placement of up to ₹25 crores, which will reduce the fresh issue size accordingly.The price band and minimum bid lot for the IPO are yet to be announced. The shares will be listed on both the BSE and NSE.
Tolins Tyres’ Business Overview
Tolins Tyres Limited was incorporated in 2003 and operates in the rubber industry. The company manufactures a wide range of tyres for commercial vehicles, including trucks, buses, and trailers. Tolins Tyres has a strong presence in the domestic market and also exports its products to various countries.
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Financial Performance
As of March 31, 2024, Tolins Tyres had assets worth ₹221.6 crores, revenue of ₹228.69 crores, and a profit after tax of ₹26.01 crores. The company’s net worth stood at ₹100.53 crores, with reserves and surplus of ₹85.07 crores and total borrowings of ₹78.77 crores.
How to Apply for Tolins Tyres IPO
Investors can apply for the Tolins Tyres IPO through various methods, including:
- Online Application: Using a 3-in-1 or 2-in-1 trading account, or applying through ASBA (Application Supported by Blocked Amount).
- Offline Application: By submitting a physical application form.
The minimum lot size and investment required for the IPO are yet to be announced.
IPO Timeline
The tentative timeline for the Tolins Tyres IPO is as follows:
- Issue Opening Date: September 9, 2024
- Issue Closing Date: September 11, 2024
- Basis of Allotment Date: September 12, 2024 (tentative)
- Refunds Initiation: September 13, 2024 (tentative)
- Credit of Shares to Demat: September 13, 2024 (tentative)
- IPO Listing Date: September 16, 2024 (tentative)
Tolins Tyres IPO Review and Important Updates
Investors should carefully review the company’s financial statements, business model, and growth prospects before making an investment decision. It is also essential to stay updated with any important developments related to the IPO, such as the price band, allotment, and listing dates.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
