Being a fast-growing share market product, the recent Tolins Tyres IPO has taken society by storm. The incredible thing is, people grab a good deal if they are correct shareholders of a big company in the Indian tire industry.
This article is going to tell you what the Tolins Tyres IPO is in the best way. This will be in the categories of where they have been before, present the IPO specifics, view the market reactions, financial performance, and the way to check the IPO allotment status.
Tolins Tyres Company Overview
Tolins Tyres Ltd is a top name in the India tire business. The firm was established in 2003. With their well-established roots in the country and the products being sold in more than 40 countries around the world.
Tolins Tyres makes a wide variety of products such as motorcycles, tricycles, light commercial vehicles, and also agricultural machinery. In addition, the company offers the citrus synthesis method, which is a process of reusing worn-out tires by repairing them.
The company manages three manufacturing facilities—two in Kerala, India, and one in the UAE. Moreover, Tolins Corp maintains its presence through a complex mechanics network which consists of the 3,737 dealers and eight depots in 80 Indian cities and 16 countries.
Tolins Tyres IPO Details
The issue of Tolins Tyres IPO took place from 9th to 11th of September 2024. For the shares of the company, prices were set at ₹215-226. This made it affordable for everyone to buy its shares. The total funds raised in the IPO were ₹230 crores. This amount comprised ₹200 crores for new shares issued and ₹30 crores that were sold by existing shareholders.
Investors were allowed to purchase stocks in packages of 66. This means that the least they could invest was ₹14,916 for one package. A retail investor might have requested a maximum of 13 shares, which would cost nearly ₹1,93,908.
The shares were allocated on the 12th of September, 2024, and the demat accounts of the investors were switched into the shares by September 13, 2024. The shares will be publicly traded on September 16, 2024 on BSE and NSE.
Investor Response and Subscription Figures
Investor response to the Tolins Tyres IPO was very positive and exciting. The IPO had been oversubscribed 24.68 times by the time its period of subscription came to an end on September 11.
A report on the subscription figures is here:
- Qualified Institutional Buyers (QIBs) subscribed 26.72 times.
- Non-Institutional Investors (NIIs) subscribed 28.71 times.
- Retail Individual Investors (RIIs) subscribed 21.78 times.
Retail investors were obviously excited, which is generally a positive indication. The high subscription numbers are indicative of a great demand in the shares of Tolins Tyres. The company has a promising future.
Grey Market Premium (GMP) and Market Sentiment
The grey market is where a stock has been bought and sold before it is officially listed on an exchange. Grey Market Premium (GMP) is a good way to tell if the stock might perform well on the day it is listed. For the case of Tolins Tyres, the GMP was about ₹29 to ₹40 higher than the issue price during the period immediately prior to listing.
A healthy grey market premium (GMP) would indicate that the stock is going to list at a premium, thereby allowing investors a good chance to cash in on the listing day.
Financial Performance and Valuation
Wealth structure of Tolins Tyres Limited is quite solid. The company has shown splendid growth for a number of years mainly in the top and bottom lines. Below is a brief report on the company’s financial performance in the last few years:
- As high as ₹105.89 crore net sales were published by the company back in 2021.
- The following year, the company witnessed a ₹113.37 crore increase in sales.
- The organisation, on its side, reached the number of ₹157.47 crore in 2024 as net sales.
The busineÂss has also noted a significant rise in earnings. In 2024, Tolins TyreÂs achieved a reveÂnue profit of ₹0.77 crore, reveÂrsing a ₹13.64 crore deficit. This high rise in income and gain indicates the business can grow while keeping expeÂnses to a minimum.
Tolins Tyres price to earnings (P/E) ratio is almost 23.73x, which is far lower than the industry’s average of 34.17x. This confirms that the company is undervalued when compared with the industry and therefore, the IPO is another motive for the attraction of investors.
Expected Listing Gains and Risks
Many think Tolins Tyres will do well. They got a lot of people to join up. They may make quick money when they start selling shares.
But stocks can go up and down. Things like new laws or price changes can hurt the company. Tolins has big rivals in tyres. Their numbers look good. They have many kinds of tires. But still, it’s risky to invest in smaller firms.
How to Check Allotment Status
If you had applied for shares at the Tolins Tyres IPO, you may be wondering how to check your Allotment status and this article is going to answer you. The process for the same is simple and thus, can be carried out both online ways:
Through the BSE Website:
- Reach the BSE website and click on the IPO allotment status link.
- In the ‘Equity’ dropdown, choose ‘Tolins Tyres IPO’ as the issue type.
- Input either your application number or PAN number and hit ‘Search’ to see your allotment status.
- Press the ‘Search’ button to check your application status.
Via Registrar’s Website (Cameo Corporate Services):
- First, go to the Cameo Corporate Services website.
- From the dropdown toolbar, select the ‘Tolins Tyres Limited’.
- Now, type your application number, PAN, or DP ID. The process is the same as with entering your application number or PAN number for the first method.
- Click ‘Submit’ to view the allotment status.
If you were not allotted shares, you can wait for your refund to be processed. It is planned to release it to you in the next few working days.
Conclusion
The Tolins Tyres IPO is an IPO that has been discussed frequently of late, and with a very good reason. Tolins Tyres are likely to do well when they debut on the stock market with a business model in place, strong performance, and the massive amount of interest from investors.
Also Read: PN Gadgil Jewellers IPO 2024: Ek Promising Investment Opportunity?
FAQs
- What is the listing date for Tolins Tyres IPO?
The Tolins Tyres IPO will be listed on September 16, 2024.
- How much was the price band for the IPO?
The price band was set between ₹215 and ₹226 per share.
- How do I check the allotment status?
You can check your allotment status through the BSE website or the registrar’s website (Cameo Corporate Services).