Tolins Tyres IPO Launches on September 9, 2024- aims to raise ₹230 Crores

         Strong Financial Growth and Global Presence:

• Tolins Tyres has demonstrated impressive financial growth, with a remarkable compound annual growth rate (CAGR) of 541.98% in Profit after Tax between Fiscal 2022 and Fiscal 2024. The company has established a strong presence not only in India but also in 40 international markets, including the Middle East, East Africa, Jordan, Kenya, and Egypt.
• Strategic Use of IPO Proceeds:
• The proceeds from the IPO will be strategically utilized for repaying outstanding loans, augmenting long-term working capital, and supporting the company’s wholly-owned subsidiary, Tolin Rubbers Private Limited. These moves are aimed at strengthening the company’s financial position and expanding its operational capabilities.

BILKULONLINE

Ahmedabad, Sept 4: Kerala-based Tolins Tyres Limited, a key player in the tyre manufacturing and retreading industry, has announced the launch of its Initial Public Offering (IPO) on September 9, 2024. The IPO, valued at ₹230 crores, comprises a fresh issue of 0.88 crore equity shares aggregating to ₹200 crores and an offer for sale (OFS) of 0.13 crore shares worth ₹30 crores.

The IPO, which will be open for subscription until September 11, 2024, is expected to see its allotment finalized by September 12, with the listing of shares on BSE and NSE anticipated on September 16, 2024. The price band for the IPO has been set between ₹215 and ₹226 per share, with a minimum application size of 66 shares, translating to an investment of at least ₹14,916 for retail investors.

Tolins Tyres, incorporated in 2003, operates within two primary verticals: tyre manufacturing and tread rubber manufacturing. The company produces a diverse range of bias tyres for light commercial vehicles, agricultural machinery, and two- and three-wheelers. Additionally, it manufactures precured tread rubber, bonding gum, vulcanizing solutions, and other related products.

The company has demonstrated remarkable growth, with its Profit after Tax (PAT) surging at a compound annual growth rate (CAGR) of 541.98% between Fiscal 2022 and Fiscal 2024. Tolins Tyres has expanded its market presence not only across India—with a network of 3,737 dealers and 8 depots—but also internationally, exporting to 40 countries, including key markets in the Middle East and East Africa.

Proceeds from the fresh issue will be directed towards the repayment of certain outstanding loans, enhancing long-term working capital, and supporting its wholly-owned subsidiary, Tolin Rubbers Private Limited, in repaying debts and boosting its working capital. The company also aims to allocate funds for general corporate purposes.

Tolins Tyres’ robust growth trajectory and strategic investments position it as a formidable contender in the tyre manufacturing industry, attracting significant attention from investors ahead of its IPO launch.

 Dr. Kalamparambil Varkey Tolin and Jerin Tolin as the promoters  of The Tolins Tyres interacted with the media.  R.Sankarakrishnan, the Whole Time Director of Tolins Tyres, discussed the company’s performance, IPO details and the future plans fo the company. 

(Disclaimer: Investors must thoroughly study the company profile and details before investing)