Tolins Tyres Limited is a tyre manufacturing company. The company provides tyre retreading solutions in India and exports to 40 countries, including the Middle East, East Africa, Jordan, Kenya, and Egypt.
The company’s business can be divided into two verticals:
- Tyre manufacturing; and
- Tread Rubber manufacturing.
As of March 31, 2024, the company’s products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others.
The company manufactures a range of products, including two-wheelers, three-wheelers, light commercial vehicles, agricultural tyres, tread rubber, and various accessories such as bonding gum, tyre flaps, and vulcanizing solutions.
As of March 31, 2024, the company operated 8 depots and had 3,737 dealers nationwide.
The company operates three manufacturing facilities, with two located at Mattoor in Kalady, Kerala, and the third in Al Hamra Industrial Zone in Ras Al Khaimah, UAE. The company has 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category.
The company has obtained various quality certifications such as ISO 9001:2015, IATF 16949:2016 issued by UK Certifications.
The company’s clientele includes Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip. etc. for products. As of March 31, 2024, the company has developed 163 new designs and products and has also created moulds for them.
As of March 31, 2024, the company’s sales and marketing team comprised 55 employees, including contract workers who reported to the Chairman and Managing Director.
Tolins Tyres IPO – Details
| IPO Opening Date | 09 September 2024 |
| IPO Closing Date | 11 September 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,01,76,992 Shares Worth ₹230.00 Crore Fresh Issue: 88,49,558 Shares Worth ₹200.00 Crore Offer For Sale: 13,27,434 Shares Worth ₹30.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹215 – ₹226 per share |
| Market Lot | 66 Shares |
| Min Order | 66 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Cameo Corporate Services Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Tolins Tyres IPO – Date Schedule
| IPO Open Date | 09 September 2024 |
| IPO Close Date | 11 September 2024 |
| Basis of Allotment | 12 September 2024 |
| Initiation of Refund | 13 September 2024 |
| Credit of Shares to Demat Account | 13 September 2024 |
| IPO Listing Date | 16 September 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Tolins Tyres IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 66 | ₹14,916 |
| Retail (Max) | 13 | 858 | ₹1,93,908 |
| S-HNI (Min) | 14 | 924 | ₹2,08,824 |
| S-HNI (Max) | 67 | 4,422 | ₹9,99,372 |
| B-HNI (Min) | 68 | 4,488 | ₹10,14,288 |
Competitive Strengths
- Diversified Product Range and Customized Product Offering.
- Quality of Products.
- Long standing relationship with large OEMs and dealer network in India and company’s Depots.
- Integrated manufacturing operations coupled with in-house products and process design capabilities which offer scale, flexibility and comprehensive solutions.
- Locational Advantage.
- Research and development and product development capabilities.
- Experienced and Dedicated Management Team.
- Track record of growth and financial performance.
Company Promoters
- Kalamparambil Varkey Tolin
- Jerin Tolin
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 (Standalone) | 114.38 | 113.53 | 0.63 | 48.87 |
| 31 March 2023 (Standalone) | 119.67 | 112.65 | 4.99 | 47.02 |
| 31 March 2024 (Consolidated) | 228.69 | 195.79 | 26.00 | 78.77 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 25.87% |
| ROCE | 36.08% |
| Debt/Equity | 0.78 |
| RoNW | 25.87% |
| P/BV | 6.14 |
| PAT Margin (%) | 11.45 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 8.48 | 6.58 |
| P/E (x) | 26.64 | 34.33 |
Object Of The Issue
- Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company;
- Augmentation of long-term working capital requirements of the company;
- Investment in the wholly owned subsidiary, Tolin Rubbers Private Limited, to repay and/ or prepay, in full, certain of its short-term and long-term borrowings and augmentation of its working capital requirements; and
- General corporate purposes.
Tolins Tyres IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Indag Rubber Limited | 39.94 |
| 2 | 10 | Vamshi Rubber Limited | 27.94 |
| 3 | 10 | TVS Srichakra Limited | 33.76 |
| 4 | 10 | GRP Ltd | 24.07 |
| 5 | 1 | Elgi Rubber Company Limited | 45.12 |
Tolins Tyres IPO Promoter Holding
| Pre Issue Share Holding | 92.63% |
| Post Issue Share Holding | 68.53% |
Tolins Tyres IPO Prospectus
Company Contact Information
| Tolins Tyres Limited No. 1/47, M C Road Kalady, Ernakulam Aluva – 683574 Phone: +917259287215 Email: cs@tolins.com Website: https://www.tolinstyres.com/ |
Tolins Tyres IPO Registrar
| Cameo Corporate Services Limited Phone: +91-44-28460390 Email: priya@cameoindia.com Website: https://ipo.cameoindia.com/ |
Tolins Tyres IPO Lead Manager(s)
| 1. Saffron Capital Advisors Private Limited |
Tolins Tyres IPO FAQs
| What is Tolins Tyres IPO? Tolins Tyres IPO is a main-board IPO. The issue is priced at ₹215 to ₹226 per equity share. The IPO is to be listed on BSE & NSE. |
| When Tolins Tyres IPO will open? The IPO is to open on 09 September 2024 for QIB, NII, and Retail Investors. |
| What is Tolins Tyres IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Tolins Tyres IPO? You can apply Tolins Tyres IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Tolins Tyres IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Tolins Tyres IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Tolins Tyres IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Tolins Tyres IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Tolins Tyres IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Tolins Tyres IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Tolins Tyres IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Tolins Tyres IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Tolins Tyres IPO Size? Tolins Tyres IPO size is ₹230.00 Crore. |
| What is Tolins Tyres IPO Price Band? Tolins Tyres IPO Price Band is ₹215 to ₹226. |
| What is Tolins Tyres IPO Minimum and Maximum Lot Size for retail? The minimum bid is 66 Shares with ₹14,916 amount while the maximum bid is 858 Shares with ₹1,93,908. |
| What is the Tolins Tyres IPO Allotment Date? Tolins Tyres IPO allotment date is 12 September 2024. |
| What is the Tolins Tyres IPO Listing Date? Tolins Tyres IPO listing date is 16 September 2024. The IPO is to be listed on BSE and NSE. |
