Tolins Tyres IPO Overview

=> Tolins Tyres is set to launch its IPO from September 9 to September 11, 2024, with shares priced between ₹215 and ₹226 each. Retail investors can apply for a minimum lot of 66 shares, requiring an investment of ₹14,916. The IPO comprises a fresh issue of 8.85 million shares and an offer for sale of 1.33 million shares, aiming to raise ₹230 crore. => The company plans to use the proceeds for debt repayment, investment in its subsidiary Tolin Rubbers, and general corporate purposes. Tolins Tyres, established in 2003, manufactures tyres and tread rubber and serves 40 countries, including markets in the Middle East and East Africa. For FY25, the company reported revenues of ₹228.69 crore and a net profit of ₹100.53 crore, with a Return on Equity of 25.87% and a debt-to-equity ratio of 0.78. => Peers include Indag Rubber, Vamshi Rubber, TVS Srichakra, GRP Ltd., and Elgi Rubber. The grey market premium for Tolins Tyres is around ₹25, indicating a potential listing price of ₹251, approximately 11% higher than the issue price's upper band.