Tolins Tyres stock listing on this day. GMP rises to 16%

Tolins Tyres stock will be listed on the exchanges on Monday, September 16. Its three-day initial public offering (IPO) which ended on September 11 got a strong response from all categories of investors. This has led to an increase in its grey market premium (GMP) to 16%.

The issue was subscribed 23.89 times with the retail category getting booked 21.52 times. The non-institutional investors (NIIs) and qualified institutional buyers (QIBs) booked the issue 27.41 and 25.42 times, respectively.

Tolins Tyres shares are commanding a premium of Rs 35 per share in the unlisted market which is up from Rs 30 on Wednesday after the issue ended.

The allotment of shares and credit to the demat accounts is expected to have been over while the process of refund to those bidders who did not get allotment is also likely done by now.

Investors get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Firstly, here's how you can know the status on BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Tolin Tyres IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.

Step 1: Visit the Cameo Corporate Services website (https://ipo.cameoindia.com/)

Step 2: Select Tolin Tyres IPO

Step 3: Enter the PAN details and click search to know the status

Tolins Tyres Proceeds

Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements, Rs 62 crore for repayment of debut. Further, about Rs 24 crore will be used for investment in the company's subsidiary Tolin Rubbers for repaying its debt and supporting its working capital requirements.

Tolins Tyres is present in both verticals – manufacturing of new tyres and tread rubber. It is primarily engaged in manufacturing of bias tyres for vehicles (including LCV, agricultural and two/three-wheeler vehicles) and precured tread rubber.

Its competitive strengths lie in its operational efficiency, ensuring timely delivery, stringent quality control, and product innovations.

The company has delivered robust growth in Revenue, EBITDA and PAT at a CAGR of 42%, 176% and 542% from FY22 to FY24, driven by capacity expansion and vertical integration.

Its revenue from operations in the fiscal year 2024 came in at Rs 227 crore and profit was at Rs 26 crore. For FY24, the company generated revenues of Rs 51 crore from sales of new tyres, which accounted for 24% of the total sales. Meanwhile, revenue from tread rubber made up for the rest 76% of the total sales.

Saffron Capital Advisor is acting as the sole book running lead manager to the issue, while cameo corporate services is the registrar.

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