Tolins Tyres Limited will launch its ₹230 crore initial public offering on September 09, 2024. The IPO includes a fresh issue of ₹200 crore and an offer for sale of ₹30 crore. The price band is set between ₹215 to ₹226 per share, with listing planned on BSE and NSE.
03 Sep 2024 | 2645 Views | By Autocar Pro News Desk
Tolins Tyres Limited ("TTL" or "The Company") will open its initial public offering (IPO) of equity shares on Monday, September 09, 2024. The IPO includes a total offer size of equity shares aggregating up to ₹230 crore, comprising a fresh issue of up to ₹200 crore and an offer for ...
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Tolins Tyres Limited ("TTL" or "The Company") will open its initial public offering (IPO) of equity shares on Monday, September 09, 2024. The IPO includes a total offer size of equity shares aggregating up to ₹230 crore, comprising a fresh issue of up to ₹200 crore and an offer for sale of up to ₹30 crore.
The Anchor Investor Bidding date is set for Friday, September 06, 2024, and the Bid Offer will close on Wednesday, September 11, 2024. The price band for the offer is fixed between ₹215 to ₹226 per equity share, with bids required for a minimum of 66 shares and in multiples of 66 thereafter.
Tolins Tyres Limited operates across India, manufacturing bias tyres for various vehicles, including light commercial, agricultural, and two/three-wheeler vehicles, along with ancillary products such as bonding gum and tyre flaps. The company has three manufacturing facilities, two located in Kerala and one in Ras Al Khaimah, UAE.
The net proceeds from the fresh issue will be used for repaying certain loans, augmenting long-term working capital, and investing in its subsidiary, Tolin Rubbers Private Limited. The offer for sale includes equity shares aggregating up to ₹30 crore from the promoter selling shareholders.
The equity shares will be listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). Saffron Capital Advisors Private Limited is the sole Book Running Lead Manager, and Cameo Corporate Service Limited is the Registrar to the Offer. The IPO will be conducted through the Book Building Process as per SEBI regulations.