Tolins Tyres IPO was released on Monday 9 September 2024. The company is receiving a good response from the investors. It seems the majority of the investors are willing to pay more than the issue price. Tolins Tyres IPO opened its IPO on 9 September 2024 and closed on 11 September 2024. Raising Rs. 230 Crores, the company will invest the money in several use cases. We will share details about Tolins Tyres IPO below.
Tolins Tyres IPO To Open Successfully On Monday
Tolins Tyres IPO has both fresh equity shares and an offer for sale. There were 0.88 crores of fresh issues and 0.13 crores of offer for sale. Tolins Tyres will be listed on both NSE and BSE, with a price range between Rs. 215 and Rs. 226 per share. It had a lot size of 66 shares with a face value of Rs. 5 per share. The company allotted the shares on 12 September 2024 with listing on 16 September 2024.
Tolins Tyres GMP Price
- 03-09-2024: Rs. 25
- 04-09-2024: Rs. 25
- 05-09-2024: Rs. 25
- 06-09-2024: Rs. 30
- 07-09-2024: Rs. 30
- 08-09-2024: Rs. 30
- 09-09-2024: Rs. 39
- 10-09-2024: Rs. 39
- 11-09-2024: Rs. 30
- 12-09-2024: Rs. 30
- 13-09-2024: Rs. 30
Tolins Tyres IPO amount will have different use cases. A portion will be for fulfilling the capital needs. While another portion will be required to support one of its subsidiary companies, Tolin Rubbers Private Limited. It will help in clearing out the debts of the company. It will also help in fulfilling the capital needs. Tolin Tyres is one of the top tyre manufacturing companies. It delivers its products throughout the country and also in 40+ countries outside.
Tolins have expertise in the commercial and agricultural segment with three-wheeler vehicles. The products have a diverse range. It is also planning to expand further. Apart from that, Tolins has a presence in more than 40 countries. It includes countries like the Middle East, East Africa, Jordan and Egypt. Tolins Tyres IPO is going to be fruitful for its investors according to the projections.
The company has around 28 times subscriptions from non-institutional buyers, and QIB has 26 times subscriptions. Followed by Retail investors subscribing 22.45 times. The expectations for the listed prices go to Rs. 256 per share. It will be 13.2 % higher than the issue price. The GMP also showed an upward movement on the day of the opening of the share. Tolins Tyres has established its position in the market successfully. There are a lot of ups and downs in the company’s journey. However, it is successful in raising its funds through IPO. Tolins Tyres expect to work further on its quality and supply by fulfilling its capital needs. Stay tuned for more information.