Tollins Tyres Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

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Tollins Tyres Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

September 09, 2024
Tollins Tyres Ltd  IPO Opens On September 09. Check IPO Details Issue Date Price

Tollins Tyres Limited is coming out with an initial public offer to raise Rs. 230 crores from the market.

Below are the details of the Tollins Tyres Limited IPO:

  • Issue opens – September 09 (Monday)
  • Issue closes – September 11 (Wednesday)
  • Issue size – Rs. 230 crores
  • Price band – Rs. 215 to 226 per equity share
  • Bid lot – 66 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Tolins Tyres Limited are one of the leading players in the industry with all India presence with a diverse product range. They are one of the companies that are present in both verticals – manufacturing of new tyres and tread rubber. Company has established itself as a major tyre retreading solutions provider across India and exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya and Egypt. The major products of the Company include twowheeler, three- wheelers, light commercial vehicle and agricultural tyres, precured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc. (Source: Company Commissioned CRISIL Report).
  • They are primarily engaged in manufacturing of bias tyres for comprehensive array of vehicles (including light commercial, agricultural and two/three-wheeler vehicles) and precured tread rubber and are also involved in manufacturing of ancillary products like bonding gum, vulcanizing solution, tyre flaps and tubes. They commenced operations in 1982 as a proprietorship concern for manufacture of tread rubber. They incorporated this Company in the year 2003 and commenced production and sales in the year 2005 and since then have been one of the players for retreading products manufacturing owing to their excellence and innovation in the industry.
  • Currently, Company caters to all three segments of market viz. exports, domestic sales and Original Equipment Manufacturers (“OEMs”) like, Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, Tyre Grip etc. Further, they sell their products through dealership network and their depots. They have a widespread customer base with their domestic customer base situated in most of the regions of the country and their international customers situated across varied countries covering Middle East, the ASEAN region and Africa. They have been recognized by their customers for the high-quality of the products supplied by them, which is one of the factors that has helped them establish long term relationships with them.

Issue Size : Rs. 230 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 115.00 Cr.
NIB – 15 % of the offer – Rs. 34.50 Cr.
RET – 35 % of the offer – Rs. 80.50 Cr.

Listing : BSE & NSE

Registrar : Cameo Corporate Services Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Wednesday, September 11th, 2024.

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